Nevada continues to add jobs in July
Submitted by editor on Wed, 08/17/2016 - 9:38am
Employment growth continued in July with 4,700 jobs added or 31,900 more than a year ago, according to figures released Wednesday by the state's Department of Employment, Training and Rehabilitation. Statewide unemployment however, did rise slightly to a seasonally-adjusted 6.5 percent.
“I remain encouraged by the consistent job growth we’re continuing to experience across Nevada,” said Gov. Brian Sandoval. “The private sector continues to increase employment opportunities and as a result, we are on the verge of regaining all of the more than 175,000 jobs lost during the recession. Despite this significant progress, our unemployment rate is still too high and we will continue our efforts so that more businesses can create jobs and every Nevadan who wants a full-time job can find one.”
Most notable is that job growth has continued to outpace the nation, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. The trade/transportation/utilities supersector has experienced the most nominal growth so far in 2016, adding 9,100 jobs year-to-date. Construction has added 6,400 jobs and healthcare has added 5,500 jobs.”
“Given that job trends are impressive and unemployment insurance claims activity is holding relatively steady at pre-recession levels, it is a challenge to understand the upward pressure on the jobless rate,” Anderson said. “Our expectations are that, once the annual benchmark (revision) process is complete in early-2017, updated estimates will likely show the opposite is more accurate, and that the unemployment rate is, in fact, trending down, as it has since 2011, alongside an improving employment situation.”
