Nye unemployment dips slightly to 9.6% in August

Nevada has added 6,500 jobs since July 2020 and the unemployment rate in Nye County was 9.6% in August compared to July’s rate of 9.9% and 5% in August 2019, according to the Department of Employment, Training and Rehabilitation’s August 2020 economic report.

The added jobs extended the recovery to a fourth month, although the state is still down 133,600 jobs since August 2019. Nevada’s seasonally adjusted unemployment rate was 13.2% in August and is now below the high of 13.7% experienced during the 2007 recession. Area total estimates are seasonally adjusted to account for regularly seen economic trends, but estimates discussing sector employment and sub-state unemployment rates are not adjusted for seasonality.

The Las Vegas Metropolitan Statistical Area increased by 5,900 jobs since July with the trade, transportation and utilities sector growing 5,300 jobs. Total employment saw a decrease of 127,400 jobs, with the leisure and hospitality sector down the most by 72,600 jobs compared to August 2019.

The Reno MSA had an increase of 1,900 jobs since July, with the government sector growing the most by 900 jobs. Compared to August 2019, total employment saw a decrease of 13,500 jobs, with the leisure and hospitality sector down the most by 5,700 jobs.

The Carson City MSA experienced an increase of 300 jobs (1.0%) since July. Compared to August 2019, total employment saw a decrease of 1,400 jobs.

The Las Vegas MSA had an unemployment rate of 15.5% in August resulting from having a labor force of 1,102,926 and 170,575 unemployed individuals. In the Reno MSA, the unemployment rate was 7.2% in August with a labor force of 246,005 and 17,779 unemployed individuals. The Carson MSA has an unemployment rate of 7.3% in August with a labor force of 25,434 and 1,856 unemployed individuals.

“Last week’s statewide release showed that Nevada added jobs for the fourth straight month in August with the unemployment rate falling to 13.2%,” DETR chief economist David Schmidt said. “Today’s report shows detailed data for our state’s local areas. In particular, the impact of COVID-19 on Las Vegas and Clark County is clear, with this area experiencing the slowest rebound in jobs and the state’s highest unemployment rate.

“Meanwhile, robust growth in the mining industry has driven unemployment in the Elko area back below 5%. These significant differences between the local areas of the state highlight the ongoing importance of using regional information to examine the impacts of COVID-19 on Nevada’s labor market.”

Among the less-populated counties, unemployment in the Elko Micropolitan area was 4.7% in August compared to July’s rate of 5% and 2.8% in August 2019; the Fallon area’s unemployment was 5.3% in August compared to July’s rate of 5.8% and 3.5% in August 2019; the unemployment rate in Lyon County was 8% in August compared to July’s rate of 8.4% and 4.5% in August 2019; and Douglas County’s unemployment rate was 7.3% in August compared to July’s rate of 8.1% and 3.6% in August 2019.