Initial August unemployment claims in Nevada see double digit percentage decrease
CARSON CITY — Initial claims for unemployment insurance benefits in Nevada decreased by 10.7 percent in August, when compared to the same month last year, at 9,580 claims, making it the largest year-over-year decrease in claims since March of 2017, according to figures released Tuesday from the Department of Employment, Training and Rehabilitation.
“Relative to last month, claims are down by 970, a decrease of 9.2 percent. Similar trends are evident in the computed measures of UI activity as well," said Jeremey Hays, Economist at the Department of Employment, Training & Rehabilitation. "The UI benefit exhaustion rate has fallen to 33.45 percent, down 2.9 percentage points from last August’s reading. Further, the average duration of UI claims has continued to moderate, standing at 13.26 weeks this month, down two percent compared to last year.”
August Claims Highlights:
— Initial claims totaled nearly 9,580 in August, down 9.2 percent compared to last month.
— Initial claims decreased 10.7 percent year-over-year, continuing the downward trend observed in each month of 2018 so far.
— The relative trend, expressed in the 12-month moving average of the series, has continued to trend down, with a reading of 10,730 this month.
— Average unemployment duration has fallen to 13.3 weeks, down from 13.5 weeks a year ago.
The exhaustion rate stands at 33.5 percent, 2.9 percentage points lower than last August; a record low since March 2007.