Las Vegas enjoys broad job gains, lower unemployment - 8 News NOW

Las Vegas enjoys broad job gains, lower unemployment

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LAS VEGAS -- The unemployment rate in the Las Vegas metropolitan area plummeted in April to 7.4 percent from 8.8 percent the prior month and 9.9 percent a year ago, the Nevada Department of Employment, Training and Rehabilitation reported Friday.

Nevada’s seasonally adjusted unemployment rate also tumbled to 8 percent in April from 8.5 percent in March, the state’s largest monthly drop since 1983. The number of unemployed residents statewide also fell from 117,300 in March to 110,000 last month.

“Our state continues to make positive economic progress, and, most importantly, more Nevadans are working again,” Gov. Brian Sandoval said. “We are experiencing broad-based growth across nearly all industries, and we have added jobs for nine straight months.

“While the news from month to month continues to be positive, there are still too many Nevadans out of work. My focus will remain on growing jobs in our state until every Nevadan that wants a job has one.”

While the unemployment rate in Las Vegas isn’t seasonally adjusted, employment estimates show the metro area supported 871,400 jobs in April, 25,500 more than the same month a year ago.

The gains included 5,800 retail positions, 5,400 in professional and business services, 5,300 in leisure and hospitality, 3,100 in education and health services, 1,900 in construction, 1,400 in transportation and warehousing, and 1,400 in government.

William Anderson, the state’s chief economist, said that nearly all major industries and all of Nevada’s metro areas are experiencing a broad based recovery. Factors included a 24 percent increase in housing prices statewide in 2013 -- the biggest improvement since 2004 -- and a 15 percent gain in Las Vegas in April over the same month a year ago.

Anderson reported Thursday that the 14,931 initial claims for unemployment insurance filed in Nevada in April represented a 15 percent drop from April 2013. Initial unemployment claims in Nevada have fallen for 17 straight months year over year.

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