Nevada unemployment initial claims see moderate decline in January
CARSON CITY — Initial claims for unemployment insurance totaled just over 10,500 in January, down 860 claims, or 7.6 percent compared to last January. Compared to December of 2019, initial claims fell by 12.3 percent, or 1,480 fewer claims, according to figures released Thursday by the Nevada Department of Employment, Training and Rehabilitation.
“Initial claims for unemployment insurance saw moderate declines last month. Relative to last January, we are trending down by 7.6 percent. When we look at the over-the-month change, the Silver State is trending down by 12.3 percent," said Jeremey Hays, Economist at DETR. "Perhaps more important, the 12-month moving average of the series indicates that claims activity in aggregate is holding steady at 9,900."
This is the third consecutive month with the average claims total trending below 10,000, and the only time this has been the case since the first quarter of 1999, said Hays.
January Claims Highlights:
— Initial claims totaled just over 10,500 in January, down 860 claims, or 7.6 percent compared to last January.
— Initial claims also decreased 12.3 percent compared to December, with 1,480 fewer claims.
— The relative trend, expressed in the 12-month moving average of the series, held steady at 9,870.
— Average unemployment duration fell to 13.3 weeks in December, down from 13.4 weeks last year.
— The exhaustion rate (the rate at which claimants exhaust their UI benefits) held steady with a reading of
33 percent.