LAS VEGAS (KLAS) — According to the Nevada Department of Employment, Training and Rehabilitation’s July 2020 economic report, Nevada saw an increase of in Employment of 14,800 jobs over the month, and saw a decrease of -138,700 jobs since July 2019, or -9.8%.
“Nevada has added jobs for the third straight month in July, though at a slower pace than in previous months,” said David Schmidt, Chief Economist for DETR. “Employment ticked up across most industries with professional & business services and education and health services adding the most jobs.”
The total employment level in the state is 1,281,100. The state’s unemployment rate for the month of July was 14%, down 1.2 percentage points from June, but up 10.1 percentage points when compared to July 2019.
“I am encouraged Nevada is continuing to recover the jobs lost due to the COVID-19 pandemic, and some people are able to return to work. We still have a long way to go,” said the Acting Director Elisa Cafferata.
DETR’s report also notes that Nevada’s Unemployment Insurance (UI) claims increased by 18,839 claims over the month and 56,826 over the year, or respectively speaking, 39.4% and 575.6%. The 12-month average level of initial claims continues to trend below 10,000.
The number of unemployed remains high but continues to improve,” Shcmidt said. “July’s data reflects a period of slower growth following the significant re-openings that took place in May and June. The challenges posed by the pandemic continue to weigh on the labor market, and the response to COVID-19 by businesses and the public continues to evolve. As the public health situation continues to develop, we will see corresponding impacts in Employment and unemployment in the months ahead.”
Additional July Economic Report Highlights:
- Nevada jobs are up by (1.2%)
- U.S. jobs are up by (+1.3%) from June to July
- Professional and business services added the most jobs (+3,900) over the month.
- Leisure and hospitality (-15.9%) and other services (-16.6%) are down the most since the same time last year.
The unemployment rate in Nevada is higher than the national rate in July and is at 14% on a seasonally adjusted basis and 14.2% on an unadjusted basis; the national rate is 10.2% adjusted and 10.5% unadjusted.
