Initial Unemployment Claims Continue Steady Downward Trend - KTVN Channel 2 - Reno Tahoe News Weather, Video -

Initial Unemployment Claims Continue Steady Downward Trend

Posted: Updated:
From the Department of Employment, Training and Rehabilitation:

In April, 14,931 initial claims for unemployment insurance were filed in Nevada, a 15 percent drop compared to April 2013.  Initial claims have fallen compared to the previous year for 17 straight months and in 50 of the past 53 months, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation (DETR).

“The double-digit decline in claims continues a trend that has been in place since August of 2013,” he said. “Some caution is necessary in interpreting this data, as this trend coincides with the implementation of the new unemployment insurance computer system, which could affect year-over-year comparisons.  But considered alongside other pieces of the state’s labor market which have been improving at a faster pace in 2014 compared to 2013, the ongoing decline in unemployment claims suggests that the state’s labor market continues to recover at a slowly accelerating pace.”

An initial claim represents the first stage of filing for unemployment benefits, and is therefore most closely related to the number of people who have recently lost their jobs, not the overall level of unemployment, he said.  Initial claims tend to increase on a seasonal basis during the fall and winter months, and then fall during the spring and summer.

Initial claims peaked during the recession at 36,414 in December 2008, and the low point for initial claims was 11,985 in September 2013.

From the Department of Employment, Training and Rehabilitation
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and Sarkes Tarzian, Inc. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.