The Nevada Secretary of State’s office released its Quarterly Economic & Business Activity Report for the Third Quarter of 2013 late last week. The report, prepared by Applied Analytics, shows mixed economic indicators. Many indicators were off from the prior quarter but most exhibited positive signs when compared to the same period a year ago.
New entity filings, which the report terms “Leading Indicators” were mostly off from last quarter, with the exception of Foreign (Non-Nevada) filings, which increased by 6% from the second quarter. Despite the declines from the recent quarter, filings from both Nevada and Foreign entities increased from the third quarter of 2012.
Though employment ticked down by 0.1% from the second quarter, employment was up 1.4% from the prior year. The unemployment rate, at 9.2% by the end of the third quarter, was down significantly from both the second quarter and from Q3 2012. Initial jobless claims also fell – 6.4% from Q2 2013 and 8.1% from Q3 2012.
Bankruptcy filings were down 16% from the prior quarter and 26% from the previous year.