Nevada Unemployment Steady, Trust Fund Hits Record

Posted on by & filed under Nevada by the Numbers Blog.

Nevada’s Unemployment Insurance (UI) Trust Fund ended the first quarter with a record balance of $1.3 billion. The number of employers in Nevada’s UI system also reached an all-time high of 70,600 in the first quarter of 2018, according to the Department of Employment, Training and Rehabilitation’s (DETR) April 2018 economic report. These are positive indicators for helping the state weather the next recession.

Unemployment remains unchanged at 4.9% The unemployment rate for women stands at 4.8 percent in April, down from 5.2 percent a year
ago. The rate for men fell to 5.4 percent, from 5.6 percent last year, and the gender gap seems to be narrowing a bit. April’s initial claims for unemployment insurance totaled 9,980, a decline of 5.1 percent from the previous year.

Nevada added 4,300 seasonally adjusted jobs in April, with all but 100 coming from the private sector. 43,000 unadjusted jobs were gained over the year. The total labor force now stands at 1,488,829, and the 3.4% seasonally adjusted employment growth is more than double the national rate of 1.6%.

Manufacturing has grown at the fastest rate, expanding by 14.3 percent year-to-date, with construction’s job gains corresponding to a gain of 9.4 percent. Here’s a look at the top sectors by nominal gains: