Nevada’s unemployment rate dropped significantly in January, but not because of improving economic fortunes, but because discouraged workers have stopped looking for work or have left the state, the Nevada Department of Employment, Training and Rehabilitation announced earlier this morning.
“Unfortunately, the decrease was not driven by significant improvement in the labor market” said Bill Anderson, the DETR's chief economist. “It appears likely that some jobless Nevadans are becoming discouraged and giving up their search for work and dropping out of the labor force. In addition, given stagnant population levels, it is also likely that some Nevadans are leaving the state.”
Nevada’s jobless rate fell from a revised 14.9% in December to 14.2% in January.The unemployment rate in the Las Vegas area fell from 15.1% in December to 13.7% in January.
However, roughly 10,700 workers dropped out of the labor force in January, which was nearly the same decrease in the number of unemployed. Household employment remained virtually unchanged, the department reported.
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