Nevada’s unemployment rate holds steady in May

Nevada’s unemployment rate remained unchanged in May while the state added jobs and the labor force grew, continuing several recent trends, according to data released Thursday by the state’s Department of Employment, Training and Rehabilitation.

The seasonally adjusted unemployment rate in May was 5.4 percent, the same as April and an increase of 0.2 percentage points when compared to May 2022, according to the DETR report.

“This month, Nevada’s labor market continues to follow the same pattern as recent months, with both strong employment growth and unemployment that is higher than other states,” DETR Chief Economist David Schmidt said in a Thursday news release.

The national unemployment rate in May was 3.7 percent, according to the Bureau of Labor Statistics.

Total employment in the state was about 1.5 million. Nonfarm employment increased by about 1,500 from April to May at a growth rate of 0.1 percent. Since May 2022, the state has added 55,300 jobs, or a growth rate of 3.7 percent, according to the report.

The Las Vegas metropolitan area added 1,400 jobs between April and May, according to the report — a 4.6 percent increase, or about 49,200 additional jobs compared to a year earlier.

Meanwhile, the Reno area lost about 500 jobs month-to-month and Carson City added about 100. In Reno, total employment is about 3.3 percent higher compared to May 2022 while Carson City’s is about 4.9 percentage points higher.

While Nevada’s unemployment rate is among the highest in the nation – May’s data for all 50 states will be made available Friday – its job growth rate is also leading the pack. In April, the Silver State had the highest job growth rate at 4.2 percent, followed by Texas and Florida at 4 percent and 3.9 percent, respectively.

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.