State’s unemployment raises slightly
Nevada’s unemployment rate jumped slightly in August to 4.9 percent, the highest it has been since February of this year. Despite the increase of 0.1 of a percentage point from July, the rate remains 0.6 of a percentage point below the August 2016 reading of 5.5 percent, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.
The state’s labor force has grown by over 16,000 so far in 2017, which might attribute to the slight uptick in the unemployment rate.
“The movement of the unemployment rate upward this month suggests more Nevadans are less discouraged and are now searching for work as they see the positive job prospects in the Silver State,” said Governor Brian Sandoval. “I am pleased at the progress that we are making in the Silver State in adding jobs and getting people back to work. “Nevada continues to show signs of positive progress including having the fastest growing economy in the nation and a record number of jobs including an all-time high number of small business opportunities.”
Unemployment also increased 0.1 percentage point nationally in August, reaching 4.4 percent. Thus, the gap between Nevada and the U.S. remains steady at 0.5 of a percentage point.
The unanimous approvals Wednesday came despite state leaders promising to tighten up requirements for Nevada’s tax abatements and incentives for future companies.