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Nevada Unemployment Unchanged In March

Holding Steady At February's 8.5% Rate
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(Credit: Thinkstock)

(Credit: Thinkstock)

Nate Tannenbaum Nathan Tannenbaum
Email Nathan at nathan.tannenbaum@cbsradio.com
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( Carson City, NV ) - —Nevada’s unemployment rate remained at a seasonally-adjusted 8.5 percent for March, the same as February.

The unemployment rate is down from 10.2 percent year-over-year.

The state’s Department of Employment, Training and Rehabilitation says that equates to 117,000 Nevadans out of work.

Unemployment rates for the state’s larger metro areas were not available, but will reportedly be available by the end of next week.

Non-farm employment in Nevada rose by 4,700 jobs over-the-month on a seasonally adjusted basis in March.

“Nevada’s labor force has been trending up in 2014,” said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. “It has grown by 16,100 since December, and the year-over-year reading in March was up 2,700 from 2013, the first yearly increase since April 2011.” He added: ” Nevada continues to show indication that its economy is moving in the right direction.”

Total employment in Nevada’s economy is projected to grow by about 61,000 jobs through 2015 to reach an average of 1,218,700; this represents a 5.3 percent increase. Specifically, growth rates of 2.5 percent for 2014 and 2.7 percent for 2015 are expected.

Some of the fastest projected growth will occur in the hotel and food services, construction, and retail trades. Together Anderson says those three industries are expected to account for over 55 percent — nearly 34,000 — of all new jobs during this period, Anderson noted.

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