Unemployment rate continues to decline as Nevada adds back jobs

Unemployment rate continues to decline as Nevada adds back jobs
Photo by David Vives on Unsplash

CARSON CITY—Nevada’s unemployment rates continue to improve according to the Department of Employment, Training and Rehabilitation’s (DETR) May 2021 economic report. The state’s overall, seasonally adjusted unemployment rate is 7.8%, down only slightly from April but 16 percentage points lower than one year prior.

DETR chief economist David Schmidt said the state’s full reopening and the addition of more than 10,000 jobs over the past month—and nearly 213,000 over the past year—has helped Nevada’s unemployment numbers continue to improve.

“This month’s data gives us our first look at the employment impacts from the state’s move back to being 100% open, and where that process stood in the middle of May,” Schmidt said. “While employment has not fully recovered and unemployment remains high, the trends consistently point to an ongoing recovery as we head into the summer.”

Schmidt noted strong growth in the food services and leisure and hospitality industries, which led the state in most jobs added in May. The food services industry added 5,400 jobs since April, growing employment in that sector by 4.5%. He adds that pent up demand for summer tourism is pushing job growth in Las Vegas’s leisure and hospitality sector, which added 6,800 of the total 9,500 jobs added statewide in that sector.

Las Vegas still leads the state in overall unemployment, at 8.9%. Eureka County has the lowest rate—just 2.2%.

Claims for weekly unemployment benefits also fell in May by 30,000. Schmidt said that decline continues a trend that began in March.

For a look at unemployment rates in each county visit DETR’s Area Profiles Page. To see additional labor market data view the department’s employment and unemployment dashboards located at www.nevadaworkforce.com.

Source: DETR