Nevada’s and Las Vegas' unemployment rates soared to new records during the month of April, the Nevada Department of Employment, Training and Rehabilitation (DETR) announced early this morning.
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The state's official jobless rate now stands at 13.7%, while Las Vegas' has again crossed a significant threshold, jumping to 14.2%, said William Anderson, chief economist for the DETR. In contrast, the national unemployment rate is 9.9%, while the only other state to consistently report a higher jobless rate than Nevada, Michigan, announced Thursday that its April rate stood at 14%.
“While the consensus may be that the recession is nearing the end, employment has not begun to show any signs of real improvement. News on the employment front remains unsettling, especially for those still struggling to find work in this down economy.”
- William Anderson, chief economist for Nevada Department of Employment, Training and Rehabilitation
Some of the increase is because more jobless Nevadans are looking for work: the state's overall labor force grew every month this year, presumably because workers either exhausted savings and unemployment benefits, or were buoyed because of more upbeat reports about an improving national economic picture.
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Casino employment appears to be bottoming out, but construction and government continue to shed jobs
Las Vegas' casino hotel and gaming industry may have reached or be nearing the bottom, Anderson said. While still very weak, employment has increased each month this year and visitor volume has improved six out of the last seven months. Although still low by historical standards, hotel occupancy also has improved, he added, despite thousands of additional new hotel rooms Las Vegas' City Center has added since opening in December.
However, one of the state's other largest employment sectors, construction, has fallen to a level not seen in 15 years. The industry has lost almost 60% of the jobs it created during the height of the housing boom in June 2006.
Because of falling tax revenues, the public sector - particularly local government - is also now beginning to shed large numbers of jobs. In the last year, local government employers slashed or 5.2% fo its employment base, or 5,500 jobs. Job losses are expected to increase in the coming months as municipalities adjust to lower budgets set to begin July 1st.
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As the devastating effects of the Great Recession continue, Nevada's social service safety net is providing aid to more and more Nevadans, Anderson said. For example, the number of Nevadans participating in Supplemental Nutrition Assistance Program (SNAP, formerly known as food stamps) and and Temporary Assistance for Needy Families (TANF) have grown dramatically, Anderson said.
Since the state of the recession, SNAP recipients have grown 100%, while those receiving TANF aid, which is temporary cash assistance to poor families with children, grew almost 40%. In the last year alone, SNAP participation increased by almost 42%, while TANF participants grew by 33%.
