Nevada’s unemployment down to 6.8 percent in July
Nevada’s unemployment rate fell slightly to a seasonally adjusted 6.8 percent in July, the lowest since July 2008 and the 53rd consecutive month of year-over-year declines in the rate, according to figures released Wednesday by the state's Department of Employment, Training and Rehabilitation.
“I'm encouraged by another month of positive trends in the state's labor market,” said Gov. Brian Sandoval. “While much room remains for improvement, especially on the unemployment front, Nevada continues to perform well relative to the nation as a whole. For instance, over the course of the recovery, Nevada business openings are up 24 percent, according to the most recent information from the U.S. Bureau of Labor Statistics. That's the 13th-strongest gain in the nation, and well above the 18 percent gain for the U.S. as a whole.”
The number of unemployed persons in Nevada is also trending down, at 97,000 in July, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.
Nevada has added more than 45,000 jobs since last July, a growth rate of 3.7 percent. This is the second largest gain since mid-2006 and the 55th consecutive month of year-over-year employment gains in the state.
Construction continues to lead in terms of percentage growth rate, up 10.7 percent or 6,800 jobs. Leisure and hospitality saw the most nominal growth in July, with an addition of more than 20,000 jobs with a growth rate of 6 percent.
“All economic indicators continue to show the Silver State bouncing back from the brutal effects of the recession,” Anderson said. “Initial unemployment insurance claims are trending downward. In addition to the overall unemployment rate showing improvement, the long term unemployed are returning to work at a faster rate. Additionally, businesses continue to add jobs, while fewer establishments are closing.”