Revised 2016 unemployment rate shows Nevada added 41,000 jobs
Nevada’s annual unemployment rate for 2016 has been revised to 5.7 percent after initially reported as 5.8 percent. Additionally, during the revision process, the state added 41,000 jobs over the year, up from the previous estimate of 32,500, according to figures released Monday by the state's Department of Employment, Training and Rehabilitation.
Each year, the process of benchmarking takes place which involves recalculating labor market statistics using more complete information that becomes available, said Bill Anderson, chief economist for the Research and Analysis Bureau of the Nevada Department of Employment, Training and Rehabilitation.
“The revised numbers show Nevada is in better shape than previously estimated,” Anderson said. “This is good news as it confirms that the economy in the Silver State is continuing to move in a positive direction. More specifically, December’s unemployment rate came in at 5.1 percent. This compares to 13.7 percent at the height of the recession in the second half of 2010.On the jobs front, Nevada lost nearly 186,000 jobs during the recession, with the low point coming in September 2010. Since then, through December 2016, Nevada has gained almost 210,000 jobs, leaving employment at a record high at year-end.”