Nevada's unemployment rate drops in June

LAS VEGAS -- Nevada's seasonally adjusted unemployment rate fell in June by two-tenths of a percentage point to 7.7 percent, the lowest level since August 2008, the Nevada Department of Employment, Training and Rehabilitation reported Friday.

The unadjusted unemployment rate in Las Vegas held steady at 7.9 percent, but that was 2.5 percentage points lower than a year ago.

"I am pleased with the steady improvements reflected in the most recent labor market report," Governor Brian Sandoval said. "Unemployment numbers are down and we continue to see job growth in key sectors of our economy. Although this positive news is welcomed, we must remain vigilant in our economic development efforts to continue moving Nevada forward."

Still, Nevada's unemployment rate remains considerably above the national average, which stood at 6.1 percent in June.

The state added 5,300 jobs last month, the 11th consecutive month of job gains. The largest annual growth rate -- 10.5 percent -- belonged to the construction industry, which added 5,900 jobs since June 2013.

"Going forward, improving underlying conditions in the national labor market should pave the way for continued advances in Nevada," Bill Anderson, the state's chief economist, said. "By the end of next year, our expectations are for Nevada employment to be approximately 95 percent of the pre-recessionary peak."

The Las Vegas metropolitan area posted 874,900 jobs in June, 26,100 more than a year ago for a 3.1 percent increase. The job gains have been broad based.

Job gains in the metro area over the past year included trade, transportation and utilities, up 6,900, professional and business services, up 6,300, education and health services, up 4,800, leisure and hospitality, up 4,700, and construction, up 2,400.



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