NEVADA (KTNV) — Employment in Nevada increased over the month by 9,200 jobs, according to a new report from the state's employment department.
Jobs remain below typical levels; Nevada has 109,500 fewer jobs than in Nov. 2019, for an annual job growth rate of -7.7% according to the November 2020 economic report from the Nevada Department of Employment, Training and Rehabilitation, known as DETR.
The agency reports the total employment level in the state is 1,317,800. The state’s unemployment rate in November is 10.1%, an improvement from 11.9 in October but 6.4 percentage points higher when compared to Nov. 2019.
DETR’s report also notes that Nevada’s Unemployment Insurance initial claims decreased by 5,278 or 13.9% over the month, to 32,613 claims. This is the fewest claims filed in a month since the beginning of the pandemic.
DETR Chief Economist David Schmidt wrote in a press release:
“This month Nevada continued to experience a rebound in employment and unemployment, on par with the trend since August. Employment rose by 9,200 jobs while the unemployment rate fell to just over 10 percent. Of particular note among industry employment figures are the nondurable goods manufacturing industry, which rose to its all-time high in November and the full-service restaurant industry, which returned to pre-COVID levels over the last two months. Retail and wholesale trade saw stronger increases in employment than normal seasonal patterns, while accommodation saw sharper declines than normal."
Additional November Economic Report Highlights:
- Nevada jobs are up by (+0.7%), US jobs are up by (+0.2%) from October to November.
- Trade, Transportation, & Utilities added the most jobs (+4,900) over the month.
- Management of companies and enterprises (-20.1%) and educational services (-16.2%) are down the most since the same time last year.
- The unemployment rate in Nevada is higher than the national rate in November and is at 10.1% on a seasonally adjusted basis and 9.9% on an unadjusted basis; the national rate was 6.7% adjusted and 6.4% unadjusted.