Nevada’s unemployment rate fell in October to its lowest point since June 2008 — just 7.1 percent seasonally adjusted and 6.6 percent without that adjustment.
That is more than 2 percent lower than the rate in Oct., 2013 and the first time since Sept. and Oct., 2007 the rate for all 17 of Nevada’s counties was lower than 10 percent.
While all counties showed significant improvement during the past 12 months, the key was Clark County where the unemployment rate has dropped 2.8 percent since Oct., 2013, the largest annual decline ever reported for the Las Vegas reporting area.
In Carson City, the rate fell three-tenths to 6.8 percent while the unemployment rate in the Reno-Sparks reporting area was just 6.1 percent.
Las Vegas also saw a reduction of three-tenths, ending the month at 6.8 percent.
Bill Anderson, chief economist for the Department of Employment, Training and Rehabilitation, said Nevada’s job growth has been outperforming 48 other states.
“After a long delay, this strong employment growth has finally led to an accelerated decline in the state’s unemployment rate,” he said.
That includes Lyon County which for most of the recession, had the highest unemployment rate in the state. For October, unemployment in Lyon was just 8.5 percent.
Even Mineral County, which several months ago took over that dubious distinction was below 10 percent in September and October, albeit by just two-tenths of a percent.
For Carson City, the numbers mean there are just 1,800 looking for work in a labor force of 26,300. At the start of this year, there were 2,600 unemployed in the capital but that number has fallen steadily through the ten months since.
In Churchill County, the rate fell to just 5.4 percent in October with just 670 looking for work in a labor force of 12,480.
Douglas County remains similar to Carson City with a rate of 6.7 percent for October. That translates to 1,410 jobless in a workforce of 20,960.
The lowest unemployment rates remain in the rural counties with strong mining economies: Elko is at 4.1 percent, Esmeralda at 3.2 percent, Eureka at 4.9 percent, White Pine at 4.8 percent and Lander at 3.6 percent.
