(Las Vegas, NV) — Nevada’s unemployment rate fell in February to a seasonally adjusted 12.3 percent, down from 12.7 percent in January. Unemployment rates in the metro-areas of the state fell in a similar fashion. In both the Las Vegas-Paradise and Reno-Sparks areas, the unemployment rate fell from 13.0 to 12.2 percent in February. Carson City’s unemployment rate declined by eight-tenths of a percentage point as well, falling from 13.5 percent in January to 12.7 in February. The unemployment rate in the Elko area fell by seven-tenths to 6.7 percent.
Governor Brian Sandoval said of the new figures, “The latest decline in our unemployment rate indicates our economic indicators are headed in the right direction, but this month’s figures are also a reminder that we must continue to strive for job growth in every sector in this fragile economic recovery. We are fighting on every front to help businesses create 50,000 jobs by the end of 2014. Statistics from 2011 indicate more than 10,000 jobs were added, so we still have work to do.”
Although a legitimate argument can be made that the driving forces behind the decline were signs of weakness, rather than strength, that fact that the jobless rate has declined in each of the last six months is a positive development, said Bill Anderson, chief economist with the Nevada Department of Employment, Training and Rehabilitation (DETR).