Unemployment insurance claims fall in Sept.
In Nevada, 9,068 initial claims for unemployment insurance benefits were filed in Nevada in September, according to report released by Nevada’s Department of Employment, Training and Rehabilitation.
Last month’s figure is down 15 percent from August.
This is the lowest total of any month since August 1998. Additionally, initial claims are down 3 percent from September 2016 when they were 9,358. September marks the seasonal low point of the year. The overall trend, best represented by the 12-month average, is at a post-recession low of 11,083 claims per month.
With September tending to be the seasonal low for claims, it is expected that over the course of the next several months, initial claims will seasonally rise, peaking in December or January.
“Despite indications of some leveling-off in initial claims over the last few months, through three quarters of 2017, initial claims are still down nearly 4 percent compared to the same period last year” said Alessandro Capello, an economist with DETR. “This, combined with the post-recession lows in the average duration of benefits at 13.4 weeks and the exhaustion rate at 36.2 percent, have led to decline in regular unemployment insurance benefit payments by 5.3 percent compared to the first three quarters of 2016.”
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