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Vegas jobs climb

New labor statistics bring news that Vegas jobs have climbed.

In Nevada, overall job growth increased to nearly 46,000 jobs year-over-year. At 3.4 percent growth, this is the largest increase since June 2017.

The state’s unemployment rate decreased by another 0.1 percent to 4.6 percent, the lowest level since August 2007.

“This month’s record numbers in job growth, number of employers in the state’s Unemployment Insurance System and Nevada’s Trust Fund balance at nearly $1.3 billion, is encouraging for our state and continues to strengthen Nevada’s economic standing,” said Governor Brian Sandoval. “Combined with a diminishing unemployment rate, the Silver State continues to build on our position for the future.”

Unemployment declined by 0.1 percentage point, the third decline seen so far this year.

The last time Nevada’s unemployment rate was this low was August, 2007.

July’s (seasonally-adjusted) over-the-month job gain of 9,500 was the largest over-the-month increase (next to July 2016) since the end of the recession.

The state added 46,000 jobs over the year (seasonally-adjusted).

Manufacturing employment has grown by 14% year to date.

Another record-high number of employers in Nevada’s unemployment insurance system, at 70,960 at the end of 2018’s 2nd Quarter.

Nevada’s Trust Fund balance is at nearly $1.3 billion at the end of the 2nd quarter.