Nevada’s Unemployment Rate Drops to 13.2%

Carson City, NV…In March, Nevada’s unemployment rate fell to 13.2 percent, and businesses reported an over-the-year employment increase for the first time in 38 months. Most of the monthly employment increase in March was concentrated in the Las Vegas-Paradise MSA. Total nonfarm employment in the Las Vegas area increased by 10,100, and is up 0.5 percent from the same month last year. Employment in the Reno-Sparks area increased by a modest 600 jobs, while employment in Carson City was essentially unchanged, adding just 100 jobs. Both areas have slightly more jobs now than they did a year ago.

Unemployment rates in the State’s major regional labor markets declined in March. In the Las Vegas area, the unemployment rate fell four-tenths of one-percent to 13.3 percent. It’s the lowest unemployment rate for the area since December 2009. The unemployment rate in the Reno-Sparks area declined by one-tenth to 13.1 percent, and the rate in Carson City fell three-tenths to 13.2 percent. (Unemployment rates for the State’s metropolitan areas are not adjusted for seasonality. For comparison purposes, the State’s unadjusted unemployment rate was 13.2 percent in March, down from 13.6 percent in February.) “Nevada’s labor markets showed signs of life in March, hinting at what may be the beginnings of an economic recovery,” said Bill Anderson, chief economist for the Nevada Department of Employment, Training, and Rehabilitation. “Employment