KTVN Channel 2 - Reno Tahoe News Weather, Video - Nevada Unemployment Falls for First Time in Four Years
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Good news on Nevada's economy Friday morning after the release of Nevada's unemployment numbers.
The unemployment rate last month fell .3%, the first drop the state has seen in four years.
Since 2008 the unemployment rate had been climbing steadily each month, though in 2006 and 2007 it stayed flat some months.
Still even in October Nevada's unemployment sits at 13%, meaning more than 175,000 Nevadans are out of work.
One state economist says last month's drop is a sign of some stabilization in the employment situation.
Friday morning Sen. Harry Reid released a statement lauding the drop in the unemployment rate.
“This is a positive development and further evidence that Nevada is starting down the economic road to recovery. While this is an encouraging sign of stability in the job market, we must continue to do all we can to help Nevada families who are struggling to find work, pay their bills and make it through the holiday season," Sen. Reid's statement said.
However the governor's office also released a statement on the unemployment rate. In it Governor Gibbons asserted the drop is only a temporary one because, he said, no new jobs have been created yet.
“I would like to tell the citizens of Nevada we have seen the worst of the economic crisis and are seeing the fruits of recovery,” Gibbons said in the statement. “The decline in unemployment has not been followed by an increase in the employment base. Clearly the federal stimulus dollars have been better at retaining existing jobs rather than creating new jobs.”
Gibbons said his office is fighting to create and bring new jobs to Nevada. However, he expects the unemployment rate to rise in November and again in December.
