Nevada Unemployment Rate Rises to 6.4%
The state’s unemployment rate continued to pull away from the national rate in June, which remained at 5.5 percent, according to a report released today by the Nevada Department of Employment, Training, and Rehabilitation.
The unemployment rate in Las Vegas Valley was a bit higher than the state’s average, standing at 6.5%. The area shed 6,200 jobs in June and for the first time since 2002, year-over-year growth declined for four consecutive months.
Two factors were cited as reasons for the increase in the rate. They included recent disappointing gaming revenue, and more people re-entering the workforce in order to cope with rising prices of things like fuel and food.
The only sliver lining in today’s report – make that gold lining – was that in mining areas, such as Elko and White Pine counties, the unemployment rate remained below 5 percent thanks to the fact that gold prices remain near their historic highs.
Tags: Economy, employment, unemployment