According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) September 2019 economic report was very good. Employment in Nevada is up 6,000 over the month and 45,200 over the year. The state’s unemployment rate is unchanged from August, at 4.1 percent, and down 0.4 percentage point when compared to last September.“It is encouraging to see that this month’s economic report reflects steady growth in Nevada’s economy. Employment in the state continues to rise, exceeding the national job rate, while unemployment and initial claims remain low. Personal income also shows improvement, with growth approaching the national average.
While the state’s labor market remains encouraging, we must continue our efforts to ensure ongoing job opportunities for all Nevadans,” Governor Steve Sisolak said.DETR’s report also notes that Nevada initial claims for unemployment insurance totaled 8,441 and realized a year-over-year increase this month, up 1.8 percent in September, or 151 claims. “Although the national economic outlook remains uncertain, Nevada’s economy reflects a tight labor market and is holding positive trends.
The unemployment rate held steady once again this month (September) remaining relatively low. Additionally, the state’s share of people who have been unemployed for more than 26 weeks make up just 0.8 percent of our state labor force, a level consistent with a healthy labor market. Although the state’s economy realized positive measures in September, we will continue to monitor both Nevada and the nation’s labor markets for signs of a turning point.” said David Schmidt, Chief Economist for DETR. Additional September Report Highlights:
•Total employment rose by 3.2 percent over the year, more than double the current U.S. growth rate (1.4%).
•Professional and business services added the most jobs out of all sectors, for the 12 -month period ending in September 2019, increasing by an average of 12,800 jobs over the same year time the year prior.
•Information for the second quarter of 2019 shows per capita personal income in Nevada was up over the month at $50,675 and was 90% of the national level of $56,541.500 E. Third Street, Room 200 │ Carson City, Nevada 89713 | 2800 E. St. Louis Ave. | Las Vegas, NV 89104Phone: (775) 684-3911 │ (702) 486-7923 | www.detrnv.gov│ Fax: (775) 684-6426 | Fax: (702) 486-7924.
•This month’s national unemployment rate (3.5%) is the lowest it’s been since December of 1969, nearly fifty years ago.The gap between Nevada’s rate and the nation’s increased from 0.4 percent in August to half a percent in September.•Nevada’s long-term unemployment (those unemployed for 27 weeks or more) rate stands at 0.8 percent, unchanged over last August. •From January 2014 to August 2019, the unemployment rate for Asians, Blacks, and Whites have all been trending downward. •Year-to -date through September, 272,430 ads have been posted for jobs in Nevada, an increase of 47,503 (21.1 percent) from the same period last year.