Nevada Jobless Rate Ticks Up To 12.1 Percent In August
Submitted by Nevada News Bureau on Fri, 09/21/2012 - 10:57am
CARSON CITY – Nevada’s unemployment rate ticked up one-tenth of a percentage point to 12.1 percent in August from July, the second month of increases in the jobless rate after hitting a three-year low in May, a state agency reported today.
The increase in the seasonally adjusted rate, coming after a jump of four-tenths of a percentage point in July, continues to make Nevada the state with the highest unemployment rate in the nation.
The rate is still well below the 13.8 percent jobless rate reported in August of 2011, the report from the state Department of Employment, Training and Rehabilitation (DETR) shows.
The Las Vegas area had an unadjusted jobless rate of 12.3 percent in August, while Reno-Sparks saw a 11.5 percent rate and Carson City stood at 11.6 percent.
Nevada’s economy is front and central in the presidential race, and will be a topic of comments in Mitt Romney’s visit to Las Vegas today. Both Romney and President Obama have made several trips to Nevada over the past few months. The frequent visits highlight Nevada’s importance as a battleground state in the race.
DETR Chief Economist Bill Anderson, in commenting on today’s August report, said that Nevada is mirroring the nation with its labor market having softened in recent months.
“Job growth has eased, and the unemployment rate has ticked up,” he said. “Still, year-over-year improvement is evident. Taken as a whole, labor market barometers point to the tenuous nature of the current economic environment, both nationally and here in Nevada.”
Based, at least in part, upon the results of a monthly survey of Nevada businesses, total nonfarm payrolls fell by 1,000 jobs in August, Anderson said. In every month this summer, employment fell on a month-over-month basis, resulting in a summer decline of 3,600 jobs. (The June to July change in non-farm payroll jobs was revised from a gain of 2,100 to a loss of 1,100.)
“As a result of falling job levels throughout the summer, Nevada’s over-the-year employment comparison appears less impressive,” he said. “Nonetheless, Nevada still has 5,200 more jobs than in August of last year, with a gain of 6,500 in the private sector partially offset by public sector losses.”
Gov. Brian Sandoval, who has made economic development and job creation a centerpiece of his administration and who is currently on a trade mission to the People’s Republic of China and South Korea, said: “While I am disappointed that Nevada experienced another slight uptick in the unemployment rate, I am encouraged by the fact that we continue to see signs of modest economic improvement, measured on a year-over-year basis, in these numbers.”
Sandoval acknowledged, however, that the slight improvement is not enough to sustain Nevada’s economy, “which is why we must continue to work to diversify our state’s economy and bring jobs to Nevada.”
As has been the case, throughout the 2012 election season, the candidates have weighed in on the latest jobless numbers.
Mason Harrison, a spokesman for the Romney campaign, said: “Today, we received more bad news from the Obama economy – more and more Nevadans are finding themselves unemployed. Nevada has seen unemployment continue to rise, despite President Obama’s promises to stop the bleeding of jobs.
“Mitt Romney will succeed where President Obama has failed by implementing a 5-point plan that will strengthen the middle class and create 12 million jobs across our country in his first term alone,” he said.
But U.S. Sen. Harry Reid, D-Nev., in a statement, said: “Today’s numbers highlight the critical importance of creating jobs. The best way to do that is to strengthen Nevada’s middle class and our small business community.
“I have been working with my Democratic colleagues to provide tax relief to middle class families, and to help small business owners expand and create jobs for hard working Nevadans. However, these commonsense measures have been met with unconditional obstruction by Senate and House Republicans, regardless of their potential to spur economic growth.”
DETR Chief Economist Bill Anderson says the national softening of the jobs market is affecting Nevada:
Anderson says Nevada’s rate of improvement is diminishing: