LAS VEGAS (KTNV) — Nevada's unemployment rate fell in October of this year with more jobs being added, according to Nevada's unemployment office.
Nevada added 11,200 jobs over the month as the state continues to recover from the COVID pandemic, according to the Nevada Department of Employment, Training and Rehabilitation’s October 2021 economic report.
Employment is still below typical levels, but is up 96,700 since October 2020, an annual increase of 7.6%.
The large increase in employment over the year reflects the significant effects of the pandemic over the last year. The total employment level in the state is 1,363,900.
The state’s unemployment rate in October is 7.3 percent, decreased by 0.2 from 7.5 percent in September and decreased by 4.7 percentage points when compared to October 2020.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
—Las Vegas employment increased by 8,400 jobs (0.9%) since September, an increase of 76,700 jobs (8.5%) since October 2020.
—Reno employment had an increase of 1,300 jobs (0.5%) since September, an increase of 11,400 jobs (4.8%) since October 2020.
—Carson City employment had an increase of 200 jobs(0.7%)since September, an increase of 1,200 jobs (4.1%) since October 2020.
“This report shows rebounding employment growth in Nevada with the state adding 11,200 jobs in October, the second-strongest month of the past year. This growth was spread across many different industries with professional and business services growing the most. The state’s unemployment rate continued to drop, dipping from 7.5 percent in September to 7.3 percent in October, with the unadjusted unemployment rate falling from 6.4 percent to 5.8 percent. The state's labor market is continuing a rapid recovery as we emerge from the COVID recession,” said David Schmidt, chief economist.
Additional labor market data is available here.
