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Vegas jobs climb

More Vegas jobs are being added, according to recent labor statistics.

Employment in Nevada declined by 900 jobs over the month but is up 48,400 jobs over the year, the largest annual increase seen in February since 2006, according to the state Department of Employment, Training and Rehabilitation’s (DETR) February 2019 economic report.

The state’s unemployment rate in February declined over the month by 0.1 percentage point to 4.3 percent and is down half a percentage point when compared to last February.

“I am pleased to see that this month’s report highlights Nevada having the fastest growing private sector in the nation. Nevada’s economy remains encouraging as small business employment reaches a new record high while the unemployment rate continues to decline,” Governor Steve Sisolak said. “We must continue to seek opportunities for improvement in our state’s economy and work to provide all working Nevadans with an opportunity for a bright economic outlook moving forward.”

DETR’s report also notes that estimates show that initial claims for unemployment insurance benefits totaled 9,290 this month. This is the lowest reading for initial claims in the Silver State since 1999.

Additional February Report Highlights: • Total employment rose by 3.5% over the year, in the middle of the range seen over the last year (2.9 – 4.1%), and more than double the current U.S. growth rate (1.7%).

Statewide non-seasonally adjusted job growth added 10,700 jobs over the last 12 months in the administrative support, waste management and remediation services sector, the largest 12-month change in the industry on record dating back to 1991.

As of the third quarter of 2018, employment in Nevada’s small business firms with less than 100 employees totaled nearly 651,000, establishing a new record high continuing while continuing the trend beginning in the second quarter of 2015.

Weekly wages in Nevada averaged $936 during the third quarter of 2018. This compares to $914 during the same period last year, an increase of $22, or 2.4 percent, year-over-year.

The unemployment rate in Nevada dropped 0.1 percentage point over the month to 4.3 percent, the lowest rate since May 2007.