Nevada jobless rate falls to lowest in history

CARSON CITY -- The booming Las Vegas economy helped push Nevada unemployment to an all-time low in December of 3.1 percent, one-half of a percentage point below the prior record of 3.6 percent set in 1962.

The state Employment, Training and Rehabilitation Department reported today there were an estimated 26,500 people out of work in December, or 5,000 less than November.

Department Director Carol Jackson also said U.S. Labor Department figures show Nevada led the nation in job growth in the fourth quarter of last year.

The 3.1 percent rate is 1.2 percentage points below the national average, which is at its lowest rate in years, Jackson said. And Nevada's rate is 2.8 percentage points lower than California.

She said the 3.1 percent is "impressive and reflects a very tight labor market in urban areas."

Total employment for December reached 909,200, up 5.4 percent from the same month of 1997. Jackson said new business activity does not appear to be waning.

In the Las Vegas Metropolitan Statistical Area, the jobless rate fell from 3.3 percent in November to 2.8 percent in December. There were an estimated 19,900 people out of work, down 4,100 in the area that includes Clark and Nye counties and Mohave County in Arizona.

The department said unemployment in Washoe County declined from 2.8 percent to 2.6 percent in December with 4,600 people out of work. The Carson City area, which includes Carson City, Douglas, Lyon and Storey counties, registered 3.9 percent, down from 4.2 percent in November. There were an estimated 2,110 jobless. In Elko and Eureka counties, unemployment dropped from 4.1 percent in November to 3.9 percent in December.

Jackson said despite the statewide growth in jobs, the number employed in mining declined by 800.

Statewide, the department reported the service industry, which includes gaming casinos, gained 19,600 jobs in the year-to-year comparison; trade was up 8,500 jobs; construction employment jumped 6,100; federal, state and local governments increased by 4,800 jobs; finance, insurance and real estate were up 2,800; transportation grew 1,500 and manufacturing was up 1,400 jobs.

The Las Vegas area reported total employment at 697,600, up 6.7 percent from a year ago. In the service industries, employment was up 18,100 for a total of 306,900 and construction increased by 4,500 jobs to 70,800 employed.

archive