Nevada’s labor force grows in October, Carson City down slightly; unemployment unchanged
Nevada’s unemployment rate was unchanged from September to October with the rate staying at 5.4 percent, according to the state's Department of Employment, Training and Rehabilitation's monthly economic report.
The labor force in the state grew by about 5,500 and October marked the 10th consecutive month that the state has seen an increase in its labor force.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
— Carson City employment had a decrease of 100 jobs (-0.3%) since September, an increase of 900 jobs (2.9%) since October 2022.
— Reno employment had an increase of 800 jobs (0.3%) since September, an increase of 8,500 jobs (3.2%) since October 2022.
— Las Vegas employment increased by 1,600 jobs (0.1%) since September, an increase of 39,900 jobs (3.6%) since October 2022.
“In October, Nevada continued its relatively rapid employment growth, continuing to grow at a rate of 3.4 percent over the past year while maintaining an unemployment rate of 5.4 percent," said David Schmidt, the state's chief economist. "More people continue to join the workforce, pushing the labor force participation rate up to 62.1 percentin October, up from 61.6 percent a year ago and 61.9% last month. Overall, Nevada's labor market continues to provide a solid foundation for ongoing economic expansion in the state.”
To see additional labor market data view the department’s employment and unemployment dashboards located at www.nevadaworkforce.com.