Nevada Unemployment Rises to 13.7%
Updated : June 7th, 2010
During these times of slow economic recovery, Nevada is absolutely not showing any signs of improvement. In fact, the unemployment rate of Nevada has risen to 13.7% in April from 13.4%. The financial experts have been attributing it the government’s austerity as about 5500 jobs were axed last month by the local governments.
The Department of Employment, Training, and Rehabilitation states that many local governments have been forced to cut off jobs in spite of the numerous salary concessions. Bill Anderson, chief economist of the Department, said that the coming months will see more job cuts as the municipalities adjust to lower budgets from July 1.
Refer to Nevada unemployment claims guide to learn more about unemployment claims in Nevada.
13.7 % is actually the seasonally adjusted unemployment rate of Nevada. With almost 193,000 people jobless, the raw rate actually is 14%. The unemployment rate of Las Vegas set a new record by registering 14.2%.
There could be numerous factors deciding the job cuts by the local governments. Construction sector seems to be the worst hit of all. There has been no major recovery since 1995. The employment in the construction sector has dropped from 148,800 to 62,700. There has been a rise in the statewide labor by 5000 may be due to financial reasons. Most of the jobs came in the form of seasonal hires in categories like outdoor recreation, sporting goods, garden and hardware stores.
You can refer to unemployment claims guide for more details on unemployment claims.