Nevada’s jobless rate ticks up slightly to 12.6% for September
CARSON CITY, Nev. — Nevada’s unemployment rate improved slightly in September to a state-wide mark of 12.6%, down from 13.3% in August, according to the Nevada Department of Employment, Training & Rehabilitation.
“I’m encouraged to see that employment continues to pick up and that unemployment has gone down,” DETR Director Elisa Cafferata said in a statement. “DETR is committed to doing our part to get Nevadans back to work.”
While employment increased by 3,400 jobs in September compared to August, the state has seen a decrease of 127,600 jobs since September 2019, representing a 9% year-over-year decrease as the consequences stemming from business shutdowns ordered this spring and summer by Gov. Steve Sisolak continue.
DETR’s September jobs report, released Thursday, also notes that Nevada’s Unemployment Insurance (UI) claims decreased by 15,225, or 30.7%, over the month; they remain up 25,929, or 307%, over the year.
According to DETR, Nevada has regained roughly half of the more than 287,300 jobs lost from February to April due to Sisolak’s COVID-induced closures; as such, the unemployment rate has fallen sharply since its record high of nearly 30% in April.
The largest employment increases in September occurred in trade/transportation/utilities and in professional and business services.
“Employment gains slowed sharply for the second month in a row as the labor market continues to shift from a rapid policy-driven rebound to a more traditional recovery,” David Schmidt, Chief Economist for DETR, said in a statement. “While the pace of improvement is slower than in recent months, a 0.7 percentage point improvement in the unemployment rate remains very rapid by historical standards.
“After a strong initial recovery when a large number of businesses were simultaneously able to reopen, we have moved into a slower phase of recovery that depends largely on individual responses to COVID in the short term.”
Other September Economic Report highlights released Thursday by DETR are as follows:
- Nevada jobs are up 0.3%, compared to U.S. jobs being up 5%, from August to September.
- Jobs in leisure and hospitality (-16.1%) and wholesale trade (-15.5%) are down the most since the same time last year.
- The 12.6% unemployment rate in Nevada is significantly higher than the national rate of 7.9% in September.
Go to nevadaworkforce.com to view the full September report.
Northern Nevada’s smaller markets expect economic stability in 2021; issues could slow future growth
While much of the economic attention in Nevada has centered on Las Vegas and Reno, the Silver State’s smaller markets and rural communities are in varying degrees of rebounding from the COVID recession.