Nevada's Unemployment Rate Sees Slight Uptick in August 2023

According to the latest data released by the Nevada Department of Employment, Training, and Rehabilitation (DETR), Nevada experienced a marginal increase in its unemployment rate from July to August 2023. The new figures indicate that the state’s unemployment rate inched up from 5.3 percent to 5.4 percent, making it the highest unemployment rate among all states in the country.

Despite this minor increase, Nevada’s labor force showed resilience, with an additional 6,000 individuals entering the workforce in August. This marks the eighth consecutive month of labor force expansion, highlighting the state’s ongoing efforts to bolster its workforce.

The report reflects Nevada’s robust labor market, characterized by significant job growth rates compared to other states. Las Vegas, in particular, saw employment increase by 8,500 jobs (0.8%) since July, contributing to a remarkable gain of 44,000 jobs (4.0%) since August 2022. Similarly, Reno experienced a surge in employment, adding 1,200 jobs (0.4%) since July and a substantial increase of 8,900 jobs (3.4%) since August 2022. Carson City also demonstrated economic resilience with an employment increase of 100 jobs (0.3%) since July, totaling a noteworthy gain of 1,400 jobs (4.5%) since August 2022.

Credits: News3LV