State jobless rate down as thousands leave labor force

A small drop in unemployment across Nevada masked big gains in jobs in July. When part-timers who want to be full-time, as well as people who’ve quit looking for work are counted, the rate goes up to 12.4%.

The latest report Wednesday from the state’s Employment Security Department shows that the jobless rate for July was the same as the previous month, and that the private sector gained 5,900 jobs from June to July. It’s also exactly on par with the national average. It’s the second largest gain since mid-2006.

The NDETR release said Nevada has added more than 45,000 jobs since last July which is a growth of 3.7 percent. “Initial unemployment insurance claims are trending downward”.

All of which has shrunk statewide unemployment to about half of its rate at over 15 percent during the depths of the recession. “Additionally, businesses continue to add jobs, while fewer establishments are closing”.

It held at 7.1 percent between January and April, following its first month-over-month increase in more than four years as recorded between December 2014 and January 2015.

Leisure and hospitality, the state’s primary economic driver, saw the largest gain in sheer numbers, with more than 20,000 new positions.

Michigan added 9,000 jobs in July and saw its unemployment rate edge down two-tenths of a percentage point to 5.3% to once again match the level of the national unemployment rate. That’s a growth rate of 6 percent.

“The reduction in the state’s July jobless rate was primarily due to a minor decline in the number of individuals actively seeking work”, Jason Palmer, director of the Bureau of Labor Market Information and Strategic Initiatives, said in a statement.