Friday, December 20, 2002
Copyright © Las Vegas Review-Journal
NEVADA ECONOMY: State's unemployment rate rises
Small boost first increase in 2002
By ED VOGEL
REVIEW-JOURNAL CAPITAL BUREAU
CARSON CITY -- Unemployment in Nevada ticked up to 4.6 percent in November, but still remained far below the national average, the state announced Thursday.
The new unemployment rate is up slightly from a 4.5 percent rate in October, but far below the 6 percent national average.
Fifteen states have unemployment rates lower than Nevada, with South Dakota the lowest at 2.7 percent. California unemployment stands at 6.4 percent, while the Arizona rate is 5.7 percent.
The slight increase is the first in 2002, but at its 4.6 percent rate Nevada has far less unemployment than in November 2001.
At that time, Nevada unemployment stood at 6.7 percent as many companies laid off workers in the wake of the tourism collapse caused by the Sept. 11, 2001, terrorist attacks.
The state unemployment report shows 48,500 people were unemployed in November, or 19,900 fewer than a year ago.
Over the past year, Nevada companies have added 28,500 jobs, a 2.9 percent job growth rate, tops in the nation.
"Although Nevada's unemployment rate rose slightly in November, the trend since January has been consistently downward," Gov. Kenny Guinn said in a prepared statement. "Nevada continues to grow faster than most other states. But we are still challenged by outside forces such as the weak national economy and political uncertainty in Iraq and elsewhere."
Guinn said Nevada's work force increased by 1,200 jobs in November, despite the closure of National Airlines. He said the expansion of the Fashion Show Mall in Las Vegas boosted the retail trade in Las Vegas. Large housing projects in Reno and North Las Vegas also have contributed to construction employment gains, he added.
Myla Florence, director of the Department of Employment, Training and Rehabilitation, said construction employment should remain strong through the winter, although there will be a slowdown in Northern Nevada because of snowy weather.
November unemployment in the Las Vegas area was 4.8 percent in November, the same as October, but much lower than the 7 percent rate in November 2001.
Reno area unemployment was 3.7 percent in November, up from 3.5 percent in October, but lower than the 4.5 percent rate in November 2001.
Elko unemployment was 4.6 percent in November, while the Carson City area had a 4.8 percent rate.
Except for the mining industry, all business sectors have posted employment gains in the last year. Now 237,100 people work for casinos and hotels, up 3,000 workers in the past year.
But only 8,900 people work for the mining industry, down 800 jobs in the last year.
