Nevada Economy Improving Despite Slight Unemployment Uptick

The Nevada unemployment rate is up slightly, but the overall economy remains improved over last year.

The Nevada Department of Employment, Training and Rehabilitation (DETR) announced this morning that the state unemployment rose slightly to 9.7% in March.  This rise ended 20 months of the rate either declining or holding steady, said Bill Anderson, chief economist for DETR. Despite the slight increase, the overall economic outlook is brighter compared to a year ago, when the rate was at 11.6 percent.

“Nevada’s economy has been improving, and overall, I'm pleased with the general direction of the State's labor market,” Governor Brian Sandoval said. “So far this year unemployment is down roughly two percent, and preliminary estimates show that we have created 25,000 more jobs to date than we had at this point last year. However, the slight uptick in the jobless rate in March underscores that our recovery remains fragile and we must continue our efforts to strengthen and diversify our State's economy.”

Particular skill sets are in high demand.  Robert Half International, a staffing firm with locations in Las Vegas and Reno, stated the unemployment rate for highly specialized positions are as low as 2 to 4 percent. These include compliance officers (3.1%), accountants and auditors (4.0%), compensation benefits and job analysis specialists (1.4%), HR Managers (2.3%), computer network architects (1.7%) software developers (2.2%) and database administrators (2.8%).

“While there is still some uncertainty among companies, many are expanding their headcounts in the months ahead and are seeking professionals with specialized skill sets in accounting, finance, and IT as they prepare for growth," said Robert Half Division Director Joe Franco. "The Las Vegas market has become increasingly candidate-driven. Employers who don’t move quickly and offer attractive compensation packages run the risk of losing top candidates to other opportunities.”


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