Nevada initial unemployment insurance claims continue falling

LAS VEGAS -- Nevada registered a 13 percent decline in initial claims for unemployment insurance in July compared to a year ago, the Nevada Department of Employment, Training and Rehabilitation reported Thursday.

That represented the 20th consecutive month and 53rd of the past 56 months where there has been a year-over-year decline in initial claims.

The 15,441 initial claims filed last month exceeded the 14,503 initial claims filed in June but Bill Anderson, the state's chief economist, attributed that to typical seasonal trends.

"Meanwhile, other measures of unemployment insurance activity continued to fall, with the total number of weeks of unemployment claimed, total weeks of unemployment paid, average duration of unemployment, and the rate at which claimants exhaust their available benefits falling to levels at or near their lowest points of the year," Anderson said.

"Overall, while some further downward momentum continues in initial claims activity, over a longer horizon, initial claims are virtually even when compared to Nevada's economy prior to the unusually low levels of the housing boom in the mid-2000s and the historic highs of the Great Recession."

Initial claims for unemployment insurance in Nevada peaked at 36,414 in December 2008, during the severe recession, and reached a low of 11,985 last September. Because an initial claim represents the beginning stage of filing for unemployment benefits, and therefore a barometer of the number of people who recently lost their jobs.

 


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