State jobless rate lowest since 2008
Nevada’s seasonally adjusted unemployment rate was 9.3 percent in September, the lowest rate since December 2008.
According to figures released today by the Nevada Department of Employment, Training and Rehabilitation, the statewide rate is down from 9.5 percent in August.
The specific rate for Douglas County won’t be available until at least Friday, due to the government shutdown.
“I am pleased to see the improvement Nevada’s labor market is making, with September’s unemployment rate hitting the lowest point in five years,” said Gov. Brian Sandoval. “We have made great strides in our economic development efforts, but recognize the need to continue the momentum so that all of Nevada’s unemployed have the opportunity to return to work.”
While the state lost 8,800 jobs in September, year over year, the number of jobs is up by 1.4 percent and up 1.9 percent over the first nine months of the year, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. Las Vegas employment fell by 7,600 jobs, but is up by 1.9 percent year over year. Reno-Sparks employment fell by 600 jobs, but has a total gain of .5 percent relative to last year. Carson City added 200 jobs, the largest increase since June.
Separate surveys are used to calculate job losses and the unemployment rate, which explains how the state could register a drop in the unemployment rate in September, while having lost jobs.
“A more accurate measure of the health of the economy comes from examining the annual trends rather than the month to month activity,” Anderson said. “Overall, the state is moving in a positive direction, with the unemployment rate continuing to fall and employers continuing to add jobs.”