Nevada Jobless Rate Leads Nation And Hits All Time State High In May
Thank you Harry Reid! for making Nevada #1MYTH: “Harry Reid: No one can do more”
followed by this:
TRUTH: Nevada unemployment hits 14 percent, leads nation
Associated Press: “LAS VEGAS — Nevada’s unemployment rate hit 14 percent in May, pushing the Silver State ahead of Michigan to lead the nation in joblessness.
The state Department of Employment, Training and Rehabilitation reported Friday that the jump from 13.7 percent in April set a new record for Nevada.”
CARSON CITY – Nevada’s nation-leading 14 percent May unemployment rate announced today shows job losses are beginning to affect local governments after months of avoiding layoffs during a more than two-year long economic slowdown.
Nevada local governments have shed 5,600 jobs as of May this year compared to May 2009, a 5.3 percent reduction that far exceeds the 2.8 percent loss for all employment sectors over the same period, the Department of Employment, Training and Rehabilitation (DETR) reported.
A total of 300 local government jobs were lost from April to May. State government employment remained unchanged from April, and was up 400 jobs over the year.
Federal government employment has expanded due to the hiring of census workers, but those jobs are only expected to last for a few months.
Bill Anderson, chief economist for DETR, said he expects to see the local government job losses continue. Once programs have been reduced and other cutbacks implemented, the last option for cost savings is personnel, he said.
Nevada’s 14 percent jobless rate was a new all-time high for the state and put it in first place nationally. The rate was a three-tenths of a percentage point increase over April’s number.
Nevada surpassed the former No. 1 state Michigan, which had been leading the nation in unemployment for 50 consecutive months.
“In just three years, Nevada’s economy has fallen from one of the strongest performing to possibly the weakest,” Anderson said.
The state will recover, but the recovery will see growth at a much more modest pace than the boom years, he said. That modest growth will be more sustainable, Anderson said.
“We’re just going to have to ride this out,” he said. “We rode the bubble up and we got up to a pretty lofty level but now we’re riding it down quite a ways.”
Audio clips:
Anderson on Nevada No. 1 in nation for unemployment
061810Anderson1 :14 of the recession.”
Anderson on Nevada’s economy
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