Nevada's 'Actual' Unemployment Rate Hit 22.3 Percent In Third Quarter
Submitted by admin on Fri, 10/29/2010 - 2:05pm
By Sean Whaley / Nevada News Bureau
CARSON CITY – Nevada’s “actual� unemployment rate in the third quarter of 2010 increased to 22.3 percent from 21.5 percent in the second quarter, the U.S. Bureau of Labor Statistics reported today.
The Bureau of Labor Statistics report shows a much worse unemployment situation in Nevada and nationally because it includes workers who are too discouraged to seek employment and have given up searching, and workers employed part time for economic reasons.
The number is generated as a three-month average every quarter.
The monthly unemployment report for Nevada for September, released a week ago, showed the state’s jobless rate at 14.4 percent, unchanged from August and still the highest in the nation. But the monthly jobless report underestimates the number of unemployed because it only estimates unemployed workers who are actively seeking employment.
In citing the Bureau of Labor Statistics data when the July Nevada jobless rate was reported, the Nevada Department of Employment, Training and Rehabilitation (DETR) said: “Despite the historic run up in the unemployment rate, the reality of the recession’s impacts on Nevada’s workforce is much worse than presented.
“Use of the alternative measure of unemployment for research purposes is limited since the information is only available for the past five years, so comparisons to past recessions is not possible,� DETR reported. “But, from a policy perspective, the actual unemployment rate presents a more complete picture of what is currently occurring in the economy.�
Stacey Standish, a press information officer for the Bureau of Labor Statistics, said the numbers for the quarterly report are generated from a survey of 60,000 households nationwide. The 22.3 percent rate for Nevada, which is 16.8 percent nationally, includes part-time workers who want to work full time, and discouraged workers who have not actively sought employment over the past year, she said.
Nevada is tops in the nation in the Labor Statistics report, followed by California at 22.1 percent and Michigan at 21.3 percent.
The grim data comes out just days before the Nov. 2 general election, where the economy and jobs have been the major focus of candidates.
The state’s record high unemployment rate, combined with Congressional approval last year of the $787 billion American Recovery and Reinvestment Act, which is aimed at reducing the national jobless rate, have become major campaign issues in the Nevada Senate race between Majority Leader Harry Reid, D-Nev., and GOP challenger Sharron Angle.
The effectiveness of the stimulus spending also came up in a recent debate between Rep. Dina Titus, D-Nev., and GOP challenger Joe Heck in the Congressional 3 race. Heck called the stimulus bill a failure at generating jobs. Titus said the state’s unemployment rate would be much worse without the jobs created through the stimulus legislation.
Both Reid and Titus are locked in dead-heat races with their opponents.
Some of the stimulus projects have also been criticized as being wasteful, including a tree planting project in Clark County first reported by the Nevada News Bureau that made a GOP list of the top 100 worst projects nationwide.
The majority of the nearly $2.5 billion stimulus funds received by the Nevada have not gone to job creating projects. The money has spent on Medicaid caseloads and jobless benefits as specified in the legislation. Three jobless related programs alone account for nearly $1.3 billion in total spending in Nevada.
The federal stimulus reporting website shows 9,300 jobs created in Nevada from the stimulus funding through June 30.
The September 2010 Nevada unemployment report showed a total of just over 1.1 million jobs in the state, nearly 24,000 fewer jobs than in September 2009.
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