Nevada’s unemployment rate dips in October, state announces

Nevada’s unemployment rate dipped again in October as the state added its second-highest monthly job total this year, the state employment department announced Thursday.

The unemployment rate ticked down to 7.3 percent in October, slightly lower than the 7.5 percent rate in September and a 4.7 percentage point drop from October 2020, according to the Department of Employment, Training and Rehabilitation.

Nevada’s unemployment rate has ranked at or near the top of all 50 U.S. states throughout the pandemic and probably will remain that way because of “the long road left to a complete recovery,” said David Schmidt, chief economist for the department.

Last October, Nevada’s unemployment rate was at 12 percent.

Nevada added 11,200 jobs over the month of October, meaning employment is up 96,700 jobs since October 2020. August saw the highest monthly gain in jobs at 11,900.

The employment total across the state has climbed to 1,363,900 jobs.

Las Vegas employment levels increased by 8,400 jobs from September to October, the department said. Local employment is up 76,700 jobs, or 8.5 percent, since last October. Reno added 1,300 jobs since September, and Carson City added 200 jobs.

Professional and business services employment grew the most in October via 4,200 jobs, though growth occurred in many different industries, Schmidt said. Education and health services gained 3,100 jobs, and other services gained 1,200 jobs. Government jobs shrunk by 800 since September.

The state unemployment rate decreased from a nation-leading 7.7 percent in July and August to 7.5 percent in September.

Contact Mike Shoro at mshoro@reviewjournal.com. Follow @mike_shoro on Twitter.