This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Nevada No Longer Leads Nation In Unemployment

By MICHELLE RINDELS

LAS VEGAS (AP) â¿¿ Nevada has shed its long-held title as the national leader in unemployment, falling behind Rhode Island as its jobless rate dropped for the 18th straight month.

The state Department of Employment, Training and Rehabilitation announced Friday that the unemployment rate fell to 9.7 percent in January, after adding a seasonally adjusted 6,600 jobs over a month.

"The state's economy continued to produce new jobs at a decent pace," said chief state economist Bill Anderson. "Most economic and labor market barometers are pointing in a positive direction, so we maintain an outlook of improvement in the job market in 2013."

Nevada had topped the country in joblessness since February 2010 but fell behind Rhode Island after chalking up a 9.8 percent unemployment rate in December, officials said.

The news comes as the unemployment picture improves on both local and national levels. The U.S. unemployment rate fell to a four-year low of 7.7 percent in February from 7.9 percent the previous month.

All three of the state's three main metropolitan areas posted improvements. Las Vegas' non-seasonally adjusted unemployment rate was 10.2 percent in January, down 2.3 points from a year ago. Reno-Sparks' jobless rate hit 10.6 in January, a decrease of 1.9 points year-over-year. And Carson City's rate went down to 11.2 percent, a drop of 1.8 points.

Job numbers typically decline from December to January as businesses trim their holiday workforce. But Nevada lost fewer jobs than usual after the holiday season, leading to a seasonally adjusted gain, officials said.

Employment increased in five major industries, led by hospitality, trade and transportation, and government. Five other industries lost jobs, led by professional and business services, construction, and education and health services.

Another landmark in the January report is construction, which essentially held steady in 2012 and counted 1,400 more jobs in January compared with the same time last year, officials said. The construction industry hasn't seen that kind of stability since 2006.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs