Steady trend continues for initial Nevada unemployment insurance claims
Initial claims for unemployment insurance in Nevada amounted to 11,144 in June, down more than 15 percent from June 2015, but up over the month, according to figures released Monday by the state's Department of Employment, Training and Rehabilitation.
“Initial claims rose slightly from last month, not surprising as May has historically tended to have some of the lowest average claims totals of any month in a year. Nevada has experienced a rise in initial claims from May to June in 17 of the last 20 years,” said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. “The overall trend in claims, represented by the 12-month average, continues to improve, falling below 12,000 for the first time since May of 2007.”
Through the first half of 2016, unemployment insurance activity has declined significantly when compared to the same time period last year, he said. The number of weeks claimed is down 11 percent year to date. The number of claimants using all of their available benefits is down 14 percent, which has had the collective effect of reducing the amount of benefits paid. Through June, benefit payments are down 9 percent, or nearly $16 million.
An initial claim represents the first stage of filing for unemployment benefits and is therefore most closely related to the number of people who have recently lost their jobs, not the overall level of unemployment. Initial claims levels tend to increase on a seasonal basis during the fall and winter months, and then fall during the spring and summer. Initial claims peaked during the recession at 36,414 in December 2008, and the low point for initial claims was 10,650 in May 2016.