Thread: LV Jobless # down to 12%

Nevada, Las Vegas jobless numbers down to almost 12 percent
Las Vegas Review-Journal File Photo

and....I just lost my job today

Unemployed workers look through job listings at Nevada Job Connect. Jobless numbers in Nevada and Las Vegas were down to almost 12 percent in April.

LAS VEGAS REVIEW-JOURNAL
Posted: May 20, 2011 | 6:18 a.m.
Updated: May 20, 2011 | 1:21 p.m.
A combination of new jobs and a smaller labor pool pushed down joblessness across Nevada in April to its lowest rate since late 2009.

Unemployment in Las Vegas fell from 13.1 percent in March to 12.1 percent in April, as workers either found new jobs or left the labor force, the state Department of Employment, Training and Rehabilitation reported Friday morning. Statewide, joblessness dropped from 13.2 percent to 12.5 percent.

It was the fourth straight monthly drop in unemployment, and the lowest statewide jobless rate since November 2009's 12.3 percent.

But Bill Anderson, chief economist for the employment department, called the recovery "tepid," noting that underlying data point to continued deterioration in Nevada's work force rather than a noticeable economic recovery.

The number of jobless workers in Nevada dropped by 9,800 people in April, with about two-thirds of those workers finding jobs. The remainder abandoned the state's labor pool, which has contracted by 44,000 people in the last year. Researchers can't say how many of those workers left the state, or how many stayed in Nevada but quit hunting for work.

The employment department gets its numbers from household and business surveys, rather than from counting people receiving unemployment benefits.

People who aren't actively seeking jobs aren't counted in official jobless numbers, though the Bureau of Labor Statistics keeps a rolling quarterly unemployment average that includes discouraged workers and underemployed part-timers who'd rather work full-time. That number came in at 23.7 percent in the first quarter, the bureau reported on April 22.

Still, the newest state report included hints that Nevada is sharing in some of the benefits of economic stabilization nationwide, Anderson said.

"Nevada's recent improvement is at last beginning to align with national trends. As expected, Nevada lags the recovery, but the gap, at least measured by the unemployment rate, is beginning to narrow," he said.

Nevada's employers added 3,600 jobs in April, well below March's gain, which the department revised upward from 10,000 to 11,000 in Friday morning's report.

The biggest job growth came in hotel-casinos, restaurants and bars, and retail.

"Consumers appear to be moving into a better financial position," Anderson said. "Lower household debt loads and waning job uncertainty are allowing consumers to burn off some pent-up demand."

Construction, financial services and the wholesale industry cut positions from March to April.

Unemployment in Nevada still easily outstrips nationwide joblessness, which came in at 9 percent in April.

Nevada has ranked No. 1 in joblessness among the states since May 2010. California was a close second in April, with joblessness of 11.9 percent.

Nevada's leaders weighed in on the numbers early Friday morning.

"Today's news of additional Nevadans getting back to work is welcome progress, and one more sign that the economic recovery continues to take hold," said Gov. Brian Sandoval. "The creation of 3,600 jobs on the heels of the 10,000 jobs created in March cannot be discounted. I remain committed to protecting our state's economy and fighting every day to get Nevada working again."

Added Senate Majority Leader Harry Reid, D-Nev.: "This is the fourth consecutive month that the unemployment figure has dropped in Nevada and is a clear sign that our state is on the road to recovery. While this is positive news, we still have much more work to do and must continue making job creation our No. 1 priority. Yesterday's announcement that the Crescent Dunes Solar Energy Project in Tonopah is about to create hundreds of good paying clean energy jobs thanks in part to our work in Congress needs to be repeated across the state until every Nevadan who wants to work has that opportunity."

Contact reporter Jennifer Robison at jrobison@reviewjournal.com or 702-380-4512.

Originally Posted by grandmasmad

and....I just lost my job today

So sorry grandmasmad.

Very sorry to hear you lost your job.