Nevada's unemployment rate fell in January to 8.7 percent. January also marked the 37th year-over-year job growth.
The Las Vegas area's unadjusted unemployment rate was 8.9 percent in January, the same as the previous month. The unadjusted jobless rates in Carson City climbed to 10.3 percent, compared to 9.2 percent in December. The Reno/Sparks unadjusted unemployment rate was 9.1 percent in January, which compares with 8.2 percent in December.
Comparisons of the state's adjusted rate to the metro areas' unadjusted rates are invalid; the statewide rate is adjusted for seasonality and the metro areas' rates reported today are not, said Bill Anderson, chief economist for Nevada's Department of Employment, Training and Rehabilitation.
For comparison purposes, Nevada's unadjusted rate was 8.9 percent in January, up from a December reading of 8.7 percent.
Anderson said while there are 92,000 fewer jobs on nonfarm payrolls in January than when the recession began, economic indicators point toward continued recovery in Nevada's economy.
"In past analysis of the Business Employment Dynamics series, we concluded that job losses had receded to pre-recessionary levels, and, more importantly, it had been a lack of job creation holding back Nevada's recovery," Anderson said.
"Times are changing, according to the most recent data corresponding to 2013:IIQ, which shows solid job growth has begun contributing to our economic prosperity. Job losses from business closures are historically low, and job gains from business openings are rebounding, advancing the net change between gross job gains at opening establishments and gross jobs losses at closing establishments to levels reminiscent of the pre-recessionary period."[[In-content Ad]]
