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Unemployment claims decline for 5th consecutive week in Nevada

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Posted at 8:13 AM, Jun 05, 2020
and last updated 2020-06-05 11:13:34-04

Finalized data from the Nevada Department of Employment, Training and Rehabilitation (DETR) show initial claims for unemployment insurance (UI) totaled 11,337 for the week ending May 30, down 4,270 claims, or 27.4 percent compared to last week’s total of 15,607. This is the fifth consecutive week of declines in regular initial claims. Through the week ending May 30, there have been 507,177 initial claims filed in 2020, 485,525 of which have come in the last twelve weeks.

Continued claims, which represent the current number of insured unemployed workers filing weekly for unemployment insurance benefits, fell to 335,043. This is a decline from the previous week of 7,987 claims, or 2.3 percent. The state’s insured unemployment rate, which is the ratio of continued claims in a week to the total number of jobs covered by the unemployment insurance system (also known as covered employment), was 24.3 percent in the week, a decline of 0.6 percentage points. It should be noted that the calculation of the insured unemployment rate is different from that of the state’s total unemployment rate.

The Pandemic Unemployment Assistance (PUA) program for the self-employed, 1099 contract workers, and gig workers saw 18,700 initial claims filed in the week, a decline from last week’s total of 37,566. A total of 405,111 PUA continued claims were filed in the week, though it should be noted that this figure includes multiple weeks of claims. Nevada’s Pandemic Emergency Unemployment Compensation (PEUC) program, which provides up to 13 weeks of benefits to individuals who have exhausted their regular unemployment benefits, saw 5,977 claims filed in the week.

Nationally, the advance figure for seasonally adjusted regular initial claims was 1,877,000 a decline of 249,000 claims from the previous week's revised level of 2,126,000. The national insured unemployment rate for the week ending May 23 was 14.8 percent, an increase of 0.5 percentage points from the previous week. The national rate is reported with a one-week lag.