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NEVADA ECONOMY: Jobless rate rises in month

Unemployment in November at highest level since May 2003

CARSON CITY -- Nevada's seasonally adjusted unemployment rate rose two-tenths of a percentage point to 5.4 percent in November, the highest level since May 2003, a state agency reported Friday.

Nevada's unemployment rate rose even while the national rate remained unchanged at 4.7 percent, the state Department of Employment, Training and Rehabilitation reported.


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  • The Las Vegas rate, which isn't adjusted, rose to 5.3 percent in November, also up two-tenths of a percentage point from October. A year ago the Las Vegas rate was 4.1 percent.

    All three of the state's metropolitan areas saw increases in their unemployment rates last month while the Elko micropolitan area, made up of Elko and Eureka counties, reported a low 3.5 percent unemployment rate in November.

    "This was a reflection of the strength of the state's mining industry," said Bill Anderson, the agency's chief economist. "With gaming dominating the economy, other important industries like mining are often forgotten. However, in tough times, such industries are mainstays that support our economic standing."

    Anderson said construction continued to lose jobs in November, down 2,500 jobs from October. The construction industry has lost an estimated 7,300 jobs in the past 12 months because of a continuing housing slump.

    Overall, Nevada's economy added 3,800 jobs in November, but the retail trade sector accounted for the entire net job gain. The usual seasonal retail hiring was supplemented by the openings of Town Square in Clark County and Cabela's in Reno.

    "Heading into the holiday shopping season, there were concerns both in Nevada and nationally over the willingness of consumers to spend money," Anderson said. "With the wealth effect of the housing boom a distant memory, would consumers head to the stores with their usual gusto? Recent trends are not encouraging."

    In Nevada, taxable sales were reported below year-ago levels in each month from April through September, the most recent data available. Sales were down 3.3 percent statewide in the third quarter compared to the same quarter of 2006.

    Revenue reports from Nevada's gaming industry provide somewhat better news than the taxable sales figures, but there is considerable disparity from market to market, Anderson said.

    "Nevada's economic slowdown is expected to last at least through the first half of the year," he said. "Nevada is still experiencing modest job growth, but nothing like we are used to. We have a number of casinos coming online in 2009, but the housing market still holds the key. There is no indication we can expect it to turn around soon."

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    willy wrote on December 22, 2007 10:10 PM: People are too stupid to read the stats and make a very easy conclusion: Unemployment is going up because people don't stop moving here while jobs aren't waiting for them. We'll see what happens as these new casinos open, but very simple economics will dawn on these people before they pack up the U-Haul. If the job rate remains above national averages for long people will stop moving in and the modestly growing job market will sop up the unemployed fairly quickly. Now how much the jobs pay remains to be seen. But we ought to take some responsibility here. The education isn't good and the education level of the local population is subpar. Now why should employers pay higher salaries for that?

    If you have good skills, a college degree, some job experience you can make rather good money here as you will find you are in short supply. No it isn't what you get paid in California, but people moving here from the Midwest will tell you these kinds of jobs are paying quite a bit more than where they came from.

    If you think the pay here isn't good, go trying making ends meet in San Diego or LA on what you earn for the same jobs there.


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    onthe dole wrote on December 22, 2007 06:56 PM: crime pays

    growth opportunity in crime

    boom times for crime

    surf the coming LV crime wave


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    Andrea Feodorov wrote on December 22, 2007 12:35 PM: Worst schools. Worst health care. Worst telephone service. Terrible traffic congestion. Low-paying jobs. High-priced homes. High-rent apartments. High crime rate. Abominable social services. Undrinkable tap water. Taser-happy cops. And now, no employment? It's a good thing the weather is good.


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    lone ranger wrote on December 22, 2007 11:07 AM: Robert A... thanks for the insight. I recall reading that 7 of 8 newly created jobs here pay minimum wage, but wasnt aware of the 30% less statistic. Now I know why I am fighting with my employer to pay me what the market dictates. New jobs paying minimum wages plus existing companies unwilling to pay a competitive wage equals this city going downhill fast. And you know what? nobody can do anything about it. Corporate america has no obligation to their employees, perhaps we can thank globalization for this. And Brad is correct, no corporation will come anywhere near this place. Why should they? To pay top dollar for real estate? For their relocating employees to experience a decline in their quality of life?


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    Capt Nemo wrote on December 22, 2007 11:00 AM: AHHHOOOOGAAA! AHHHOOOOGGAAA! AAHHHOOOGGA! DIVE! DIVE! DIVE!

    THE HOUSING MARKET IS CRASH DIVING!

    THE EMPLOYMENT MARKET IS CRASH DIVING!

    THE ECONOMY IS CRASH DIVING!

    AHOOOGAAH! AHHHOOOGGGAH


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    Robert A. wrote on December 22, 2007 09:05 AM: The problem is we have legitimate corps but they pay about 30% less than they do for jobs anywhere else in the country. Used to be we could tout low cost of living but that just isnt the case. We may not have a state tax but we are among the 5 highest taxed states in the nation overall and a utility and power rates that are among the highest anywehre.

    Now we have a unemployment rate at much higher than the national average to go with it...


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    Brad wrote on December 22, 2007 06:14 AM: No surprises here, considering no legitiamte company will set up shop here.. Everything in Vegas is about gaming, (button pushing) and nothing else. If a legitamate company ever opened its doors here, I think the idiots that run this city would drive them out..Plus, gambling has crested anyway..all the national numbers point to a downturn in people visiting casinos. In this economy people are being more cautious what they spend money on, and gambling ranks at the bottom of the list thankfully...