Nevada's Unemployment Rate Drops to 10.8 Percent

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RENO, NV - Nevada's unemployment rate dropped to 10.8 percent for the month of November. Reno's rate dropped to 9.9 percent, while Las Vegas's rate fell to 10.4 percent. November's rate was the lowest it's been in more than three years.

Reno metro area's unemployment rate is the first single-digit November reading since 2008, down from 12.1 percent a year ago. The Las Vegas region registered a decline of 2.6 percentage points from 2011. In Carson City, the unemployment rate in November fell to 10.3 percent, down over two points from a year ago, and 0.4 point relative to October.

"This month's 10.8 percent unemployment rate is the lowest since March 2009 and private sector employment reached the one-million mark for the first time since March 2009," Governor Brian Sandoval said. "While this is good news, there is much work to be done. In order to continue to grow our state's economy, we must continue to diversify, recruit new businesses to Nevada and help retrain workers still looking for employment."

For the first 11 months of the year, the jobless rate has averaged 11.7 percent, down from 13.6 percent during the same period in 2011, said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation.

"The news on the jobs front in November is especially encouraging," Anderson said. "Typically, job readings decline slightly, by 1,200, over the October-November period. This November, however, job readings actually increased by 8,000. The end result is a seasonally adjusted gain of 9,200, the most pronounced monthly increase since April 2005. In addition, monthly job growth equaled or exceeded November's gain just nine times since 1990. For the year, employment is up 8,600 relative to the first 11 months of last year."