Updated December 18, 2021 - 5:57 am
Nevada’s economy is slowly making its way back to pre-pandemic levels — adding thousands of jobs last month and reporting a decline in its unemployment rate — after being battered by last year’s recession.
The Department of Employment, Training and Rehabilitation reported Friday that the state added 2,600 jobs in November, bringing the state’s total employment level up to 1,367,500.
DETR also said the state’s unemployment rate dipped to 6.8 percent, down from 7.2 percent in October. Despite the decline, Nevada has the second-highest unemployment rate in the country. California ranks No. 1 with 6.9 percent while, nationally, the rate stands at 4.2 percent, according to the Bureau of Labor Statistics’ Friday report.
DETR Chief Economist David Schmidt said November’s economic report shows the state’s ongoing recovery from the COVID-19 fueled recession.
“Nevada’s job growth over the month was slower than in recent months and remains at roughly 95 percent of pre-recession employment,” Schmidt said in a news release. “The unemployment rate saw more significant improvement, falling by 0.4 percentage points — the largest decline so far this year.”
While November employment figures are below typical levels, it’s up by 94,100 jobs compared with figures from November 2020, marking an annual increase of 7.4 percent. It’s the second-largest percentage jump in the country with Hawaii ranking No. 1 with an 8.4 percent increase in jobs, the bureau reported.
A further breakdown in DETR’s report shows Las Vegas and Carson City added jobs last month while Reno lost jobs.
Las Vegas employment increased by 1,700 jobs since October, an 8.4 percent jump since November 2020. Carson City added 200 jobs, up 1,500 jobs, or 5.1 percent, since November 2020. And Reno experienced a 0.5 percent decline, or a loss of 1,300 jobs, since October, but still showing an overall increase of 9,500 jobs, or 4 percent, since November 2020.
Gov. Steve Sisolak said in a news release that he’s encouraged by the uptick in employment and decline in unemployment.
“Nevada has now recovered more jobs than at the same point in the Great Recession, another sign that Nevada’s economy is resilient and continues to come back,” said Sisolak. “As we look to the new year, we will continue to focus on helping Nevada’s employers provide good jobs for Nevada families.”