Nevada’s 4.6% jobless rate lowest since August 2007 | nnbusinessview.com

Nevada’s 4.6% jobless rate lowest since August 2007

NNBV staff report

CARSON CITY, Nev. — Nevada added 9,500 jobs in July, and the unemployment rate dropped 0.1 percent to 4.6 percent across the state, data released on Aug. 15 showed.

The state’s unemployment rate is the lowest it’s been since August 2007. Overall, the state has added 46,000 jobs over the last year.

“This month’s record numbers in job growth, number of employers in the state’s Unemployment Insurance System and Nevada’s Trust Fund balance at nearly $1.3 billion, is encouraging for our state and continues to strengthen Nevada’s economic standing,” Gov. Brian Sandoval said in a statement. “Combined with a diminishing unemployment rate, the Silver State continues to build on our position for the future.”

The state’s unemployment rate fell for the third straight month. Total unemployment fell below 70,000 to 68,396 for the first time since January 2008.

“This month’s report continues to show a strong labor market in the state, with the largest employment increase in two years, and another decline in the state unemployment rate,” stated David Schmidt, chief economist for the state Department of Employment. “In addition, while the month to month numbers can be volatile and subject to revision, the fact that the employment change from June to July is currently the second-largest such increase since the end of the recession highlights the strong private sector job growth Nevada continues to experience.”

Manufacturing employment has also increased by 14 percent over the last year.

Go to nevadaworkforce.com to view full statistics and trends from July 2018.




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