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Nevada jobs grow

A number of Nevada jobs have been added, according to labor statistics.

Nevada added 5,200 jobs over the month and 51,900 jobs over the year, according to the state Department of Employment, Training and Rehabilitation’s (DETR) November 2018 economic report.

The 51,900 jobs added over the last year was the largest annual increase in over 12 years, and the growth rate of 3.8 percent was among the fastest the state has seen since before the recession.

The state’s unemployment rate in November 2018 was unchanged over the month, remaining at 4.4 percent. Compared to last November, the state’s unemployment rate is down half a percentage point.

Total employment rose by 3.8% over the year, above the high end of the range seen over the last year (2.8 – 3.5%), and more than double the current U.S. growth rate (1.7%).

As of second quarter of 2018, Nevada ranks 3rd in the nation fastest-growing private sector.

As of second quarter of 2018, employment in Nevada’s small business, firms with less than 100 employees, totaled nearly 646,000.

As defined by the U.S. Bureau of Economic Analysis, Nevada gross domestic product totaled over $148 billion (in 2012 dollars) in this year’s second quarter (In “current” dollars, this equates to over $168 billion).