Unemployment up to 8.4 percent
September 28, 2014
While Douglas County’s labor force continued to grow in May, as did its total employment, the number of unemployed also grew, increasing the jobless rate.
The county posted an 8.4 percent unemployment rate, according to figures released Friday by the Department of Employment, Training and Rehabilitation.
The number of employed rose to 19,160, up 80 from April. However, the number of unemployed also rose 80 to 1,760.
Figures are based on employment records, and don’t count those people whose benefits have expired or those who’ve given up looking for work.
While the statewide seasonal unemployment rate dropped to 7.9 percent, only Storey County saw an actual decrease in its jobless rate.
By far the largest number of employed in the state live in Clark County where unemployment rose from 7.4 percent to 7.9 percent. That increase reflected both an increase in total employment and the number of jobless. In all, 914,910 people are reported employed in Clark.
Washoe County also saw an increase in the unemployment rate from 7.1 percent to 7.4 percent.
Nevada was expected to grow by 5,900 jobs in May (not seasonally adjusted). However, actual growth totaled 8,300 jobs, which resulted in a 2,400 seasonally adjusted gain, Nevada’s Department of Employment, Training and Rehabilitation chief economist Bill Anderson said.
“Preliminary estimates so far this year suggest that job levels are trending in excess of 40,000 higher than a year ago,” Anderson said. “The state’s job base is growing at a pace more than double the national average. All told, Nevada is home to a seasonally adjusted 1,215,000 jobs as of May, which is the highest employment level reading since December of 2008.”
The construction industry experienced the highest job growth rate of any super-sector in May, growing by 12.5 percent, an increase of 7,000 jobs relative to May 2013. At a seasonally adjusted 63,200, this is the highest employment reading for the construction sector since January of 2010.
“While Nevada’s unemployment rate is still among the highest in the country and higher than the nation’s 6.3 percent rate, all indications suggest the state’s economy is on the mend,” Anderson said. “After peaking at over 194,400 at the height of the recession in October 2010, the number of unemployed in Nevada has declined by over 84,400. Initial unemployment insurance claims are steadily decreasing and weekly wages are on the rise, though not as strong as we would like.”