Nevada jobless rate below 5 percent for second month
Nevada’s unemployment rate dipped to 4.7 percent in March, 4.8 percent if the seasonally adjusted number is used.
Of the major reporting areas in the state, Carson City is the only one still above 5 percent, finishing March at 5.2 percent while Las Vegas reported 4.8 percent and Reno/Sparks just 4.2 percent unemployment.
But all those numbers are significantly better than in March 2016. In the past year, the Carson rate has fallen 1.7 percent; Reno 1.5 percent; and Las Vegas 1.3 percent.
In terms of jobs, that means Carson City has gained 700 jobs during the past year while Reno/Sparks added 6,800 jobs and Las Vegas 29,300 jobs.
Statewide, the growth rate was 3 percent since March 2016, a total of 38,300 additional jobs.
The industry with the biggest growth was construction, up by some 5,400 jobs followed by Leisure and Hospitality, which added 8,400 jobs.
Gov. Brian Sandoval said the state is currently ranked fourth in the nation in job growth. At the same time, economist Bill Anderson said initial claims for unemployment insurance are down 13 percent, the lowest claims volume since 1996.
Statewide, there were just 67,600 workers looking for a job in a labor force of 1.44 million. Churchill County has experienced an employment boom over the first three months of this year. In January, the rate was 5.5 percent with 555 out of work in a pool of 10,078. In March, it was down to 5.2 percent with 470 jobless in an 11,075 person labor pool.
Douglas County’s rate fell from 5.3 percent in January to 4.7 percent in March. as the county reduced unemployment numbers by about 100 to 1,087 out of 22,959 in the labor force. In Carson City, the labor force was 24,700 with only 1,300 jobless, in Reno/Sparks, 9,900 seeking work out of 232,900.
In Carson City, most of the numbers were unchanged. The exception was Leisure and Hospitality which added about 100 jobs — probably because the Legislature is once again in session.
In Reno/Sparks, the story was manufacturing which, over the past year, has added some 900 jobs in Washoe and Storey counties.
The growing number of jobs at the Tahoe Reno Industrial Center easily explains that number.
Lyon County as well reported a substantial reduction in unemployment for the first three months of 2017. The total fell from 7.2 percent and 1,505 jobless in January to 5.9 percent and 1,293 seeking work in March.