Nevada labor force growing as unemployment rate holds steady

Nevada’s unemployment rate remained unchanged for the third consecutive month as the state’s labor force saw gains in both jobs and people looking for work.

The seasonally adjusted unemployment rate in Nevada for June was 5.4 percent, according to the monthly labor market report from the Department of Employment, Training and Rehabilitation. The state’s labor force grew by roughly 2,900 people and added 3,400 jobs.

“In June, Nevada continued to see steady employment growth, with job growth likely to remain one of the fastest rates in the country and over 100,000 more jobs filled than before the pandemic,” DETR’s Chief Economist David Schmidt said in a Thursday news release. “The unemployment rate remained steady at 5.4 percent, though the reason for unemployment is shifting away from job loss and toward people who are just beginning to look for work.”

The national unemployment rate in June was 3.6 percent, according to the Bureau of Labor Statistics.

The Las Vegas metropolitan area added about 2,400 jobs over the month, or grew by about 0.2 percent, according to the report. That’s an increase of about 45,600 jobs, or 4.2 percent, when compared to June 2022.

In Reno, total nonfarm employment grew by 1,400 jobs or 0.5 percent from a month earlier, the report states. That’s a growth area of 3.7 percent when compared to June of last year. Carson City, meanwhile, saw no increase or decrease from May to June, though total nonfarm employment grew 3.7 percent from a year earlier.

While Nevada’s unemployment rate is among the highest in the nation — June data for all 50 states will be shared Friday — its job growth rate is also among the highest. In May, the state was tied with Florida for the second-faster employment growth year over year at 3.7 percent. Texas led the country at 4 percent.

McKenna Ross is a corps member with Report for America, a national service program that places journalists into local newsrooms. Contact her at mross@reviewjournal.com. Follow @mckenna_ross_ on Twitter.