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NV Unemployment Rate Falls to 8%

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Nevada's unemployment rate fell to 8% in April, dropping one-half of a percentage point from the previous month and marking the biggest decline in three decades.

A report released Friday by the Department of Employment, Training and Rehabilitation says Nevada employers added 3,000 jobs in April, the ninth consecutive month of job gains and 39th consecutive monthly increase on a year-over-year basis.

Chief Economist Bill Anderson says year to date Nevada has 44,000 more jobs than a year ago. He adds that the improving job market along with other economic indicators such as rebounding home prices points to an improving economy.

The statewide rate was down from 8.5% in March. Anderson says Nevada hasn't seen that big of a percentage drop since 1983.

(Copyright 2014 The Associated Press.)

Nevada Senator Harry Reid released the following statement today on Nevada’s April employment report.

“Today’s report continues to show encouraging job growth and declining unemployment in Nevada. Over 3,000 jobs were added to the Nevada economy in April—dropping the unemployment rate to 8 percent--but despite this reassuring upward trend, there are still too many Nevadans out of work. 

“This week the Senate worked to pass the tax extenders legislation that would help continue Nevada’s economic growth by creating jobs, strengthening the middle class, and maintaining U.S. global competitiveness. This bill included the Mortgage Forgiveness Debt Relief act which would offer relief to homeowners who otherwise would owe taxes on the debt forgiven through mortgage loan modifications. It also included incentives for renewable energy and energy efficiency to continue the $5.5 billion that has been invested in Nevada’s clean energy economy.  Another provision would provide a $2,400 tax credit for businesses that hire workers who have been unemployed for more than 26 weeks, of which there are 45,000 in Nevada.

“The tax extenders legislation is the type of investment  we should pass to improve our state’s economy and continue the job growth we have seen. I hope Republicans will work with us to complete it.”

U.S. Senator Dean Heller (R-NV) issued the following statement regarding the Nevada unemployment figures released earlier today:
 
“I am pleased to see that the unemployment rate in Nevada continues to decrease, and hope that more and more Nevadans continue to find employment. More reports like this one will help encourage Nevadans who are desperate for more improvement,” said Senator Dean Heller. “Each week, I hold telephone town halls with Nevadans to discuss issues going on in our nation’s capital. Over the past few weeks, I have been asking a poll question about the state of our economy. The latest results show that Nevadans are frustrated, and that they want Washington to start enacting policies that will instill confidence in hard-working people all across this great nation.”

Meanwhile, California's unemployment rate has dipped below 8% for the first time in nearly six years, a sign that the state's economy has rebounded from the depths of the recession.
 
The state Economic Development Department said Friday that California's jobless rate for April was 7.8%. It was last at that level in September 2008, when the rate was 7.9%.
 
Nonfarm payrolls increased by more than 56,000 jobs in April, led by the health care and education sectors.
 
In all, California has added more than 1.3 million jobs since officials say the national recession ended in February 2010.
 
Despite the improvement, the state's unemployment rate remains above the national average of 6.3%.  (AP)

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