DETR news release
CARSON CITY — The Nevada Department of Employment, Training and Rehabilitation announced Thursday that with just over $1 billion in the Unemployment Insurance Trust Fund, unemployment benefit payment reserves are continuing to build toward recommended levels. This is being accomplished without raising employers tax rates, supported by overall low levels of claims being filed.
Unemployment insurance (UI) trust fund finances the costs of unemployment insurance programs and benefits. The money in the fund comes from UI contributions that employers pay every quarter.
DETR has sufficient funds to pay benefits at the current rate through November 2025.
“Reaching $1 billion is another milestone as we continue to prepare for the future without increasing the tax rates employers are paying into the unemployment system. Keeping rates predictable for employers is one way we can help them feel confident in hiring workers,” said Employment Security Division Administrator Lynda Parven.
You can find more information on the Trust Fund balance online.
The Department of Employment, Training & Rehabilitation is the state’s lead workforce development agency. It consists of divisions that offer workforce related services, job placement and training, services for people with disabilities, investigation of claims of discrimination, unemployment insurance benefits, labor market data and more. Many of these services are provided through EmployNV Career and Business Hubs and in cooperation with its community partners.
