The unemployment rate in Nevada fell to 6.9% in November, the first month below 7% since June 2008, according to November’s monthly employment report by the Nevada Department of Employment, Training and Rehabilitation. Though tapering off somewhat, job growth in the construction industry has remained strong with the second-highest rate of growth of any industry in the state.
The construction industry added 3,100 jobs in Nevada, to 61,500, on a seasonally-adjusted basis during the last twelve months, though November saw a decline of 300 from the previous month. The 5.3% year-over-year growth rate is below the double-digit gains seen earlier in the year but is still second-highest of any industry in the state. Employment in professional and business services has increased by 7.5% since November 2013.
Employment by Specialty Trade Contractors is up by 4.4% (an increase of 1,800 jobs) over the previous year and the subsector gained 1,000 jobs in November statewide.
In Clark County, 1,700 construction jobs were added in November, with employment by Specialty Trade Contractors increasing by 1,800. Construction employment in Clark County has increased 5.5% in the last year. Specialty Trade Contractors employ 400 more workers, an increase of 1.4%, than in November 2013.
Construction employment in Washoe and Storey Counties fell by 600 in November and is down 0.9% (a total of 100 fewer jobs) since November 2013.
County and subsector data in the DETR report is not seasonally-adjusted.
The decline in the unemployment rate marks the 46th consecutive month in which the rate has fallen compared to a year earlier, according to DETR.
“This is tremendous news for the state of Nevada. Today’s announcement marks the first month our unemployment rate has fallen below 7 percent since June 2008,” said Governor Brian Sandoval. “This news is a direct reflection on the strong, solid growth we are witnessing in our labor market which is becoming more sustainable and diversified. We must continue our efforts to create innovative opportunities to help the business community rebound and help our citizens find gainful employment.”