October unemployment rate lowest in seven years
Nevada’s unemployment rate hit its lowest point in seven years in October.
The raw unadjusted jobless rate was 6.2 percent with just 88,900 Nevadans listed as needing a job.
That is eight-tenths lower than October 2014 and, according to Bill Anderson of the Department of Employment, Training and Rehabilitation, the 56th straight month of declines from the peak during the recession.
He said total employment is up by 42,100 jobs compared to a year ago with construction — the industry that suffered the worst hit during the recession — leading the recovery. Construction is up 11.2 percent with 7,100 more jobs than a year ago.
Churchill County was down three-tenths in October to 6.4 percent. That translates to just 674 people seeking work out of a labor force of 10,474.
Carson City lags the state as a whole, in part because public sector employment is recovering a bit more slowly than private business. The jobless rate for the capital was 6.6 percent in October. Still, that’s two-tenths less than September’s 6.8 percent. In Carson, 1,638 people were reported job hunting in a labor force of 24,943.
Las Vegas reported 6.3 percent unemployment while Reno-Sparks came in at 5.6 percent.
Lyon County is still suffering compared to Nevada’s population centers, but the 8.5 percent unemployment rate there is significantly better than the 10.4 percent in January.
Mineral County has Nevada’s worst rate at 10 percent, but that’s down a full half percent from September. A few jobs added makes a significant difference in a county with just 1,587 in the labor pool.
Still riding the mining boom, Elko came in at just 4.7 percent jobless.
Anderson said the expanding job market also should be good news for those seeking seasonal employment this holiday season. Seasonal hires are expected to boost the number of workers by more than 10,000 this winter.