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Nevada’s ‘Real’ Jobless Rate: 19%

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A job fair at Harrah's in Las Vegas. Photo Getty Images

A job fair at Harrah’s in Las Vegas. Photo Getty Images

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(LAS VEGAS, KXNT)–New federal figures from the Bureau of Labor Statistics says Nevada’s actual unemployment rate is 19%.

The numbers are for the second quarter of the year, April through June.

The traditional or official jobless rate for the state is 9.6%, but the ‘real’ figure accounts for people who work part-time but really desire full-time work, and those who have been so discouraged by their job-seeking efforts that they have fallen off the economic map.

In an interview with KXNT, Nevada’s top economist Bill Anderson of the Nevada Department of Training and Rehabilitation says he prefers the official number, noting that statistically it is very hard to track accurately those part-timers. He also notes that even accounting for discouraged workers–he personally prefers using this part of the equation–it normally adds only about one percentage point to an official jobless number.

Regardless, the ‘real’ rate is almost precisely double the official rate,both in Nevada and nationally.

And all numbers are relative; while the 195 jobless figure is hardly encouraging, its actually down from the nearly 24% figure of just two years ago.

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