Nevada’s unemployment rate declined again in March 2016, down to a seasonally-adjusted 5.8 percent. Nevada’s businesses added 35,500 jobs, which equates to a growth rate of 2.8 percent over the previous year.
“The State continues to narrow the gap with respect to the national unemployment rate and for the 44th consecutive month Nevada’s job growth, which is the third best in the nation, has exceeded the national average,” said Governor Brian Sandoval. “Small businesses continue to create new opportunities across Nevada and have surpassed peak pre-recession job numbers, a major milestone for the Silver State.”
Additionally, the statewide unemployment rate is also down relative to a year ago, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. Businesses added a seasonally-adjusted 6,500 jobs in March. Construction continues to lead the way in job growth percentage, adding 5,900 jobs year-to-date, a growth rate of 9.1 percent. Trade, transportation and utilities employment experienced the largest nominal growth, adding 9,200 jobs over the year for a growth rate of 3.9 percent.
“All measures of the Silver State’s economic health continue to show positive signs of recovery,” Anderson said. “Payrolls were expected to increase by 4,400 in March, but realized a gain of 10,900 jobs, leading to the seasonally adjusted increase. Of note, small businesses are rebounding as they have added back all of the jobs lost during the recession. Additionally, the number of people filing for unemployment insurance is down and personal income is up 6.6 percent.”