JOB GENERIC

(FILE)

LAS VEGAS (FOX5) -- Nevada's Department of Employment, Training and Rehabilitation reported an increase of 2,800 jobs and a decrease of 0.2 percent in unemployment for April 2019.

The unemployment rate dropped to four percent in the state, the lowest its been in 13 years, the department said.

Total job numbers in Nevada are up 49,600 over the year, the department said. The report also noted Nevada's UI Trust Fund ended the first quarter of 2019 with a balance of $1.52 billion and an average high cost multiple (AHCM) of 1.52.

"Nevada's current AHCM indicates that the current balance in the UI Trust Fund would cover 15 months of unemployment insurance benefits if a recession similar to the Great Recession were to occur," the department said.

Total employment in Nevada rose 3.6 percent over the year, which is double the current U.S. growth rate of 1.8 percent, the department said. Professional and business services added the most number of jobs throughout the year by 15,200.

Nevada's labor force grew at 2.8 percent over the year and the department said the state outperformed the national labor growth rate of one percent. Opening establishments made up for 14,640 new (gross) jobs in the third quarter of 2018, roughly 18 percent of total gross job gain and an increase of 1.970 jobs.

"Nevada's has experienced year-over-year job gains for more than eight consecutive years and the unemployment rate, at four percent, is the lowest it's been since April of 2006," Governor Steve Sisolak said. "Although these number are encouraging, we need to continue to do more to make sure that the benefits of this economy extend to all Nevadans."

Copyright 2019 KVVU (KVVU Broadcasting Corporation). All rights reserved 

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