Nevada jobless rate falls again, to 12.5 percent

[TomCADem]

Source: Business Week

Nevada's unemployment rate dropped for a fourth straight month to 12.5 percent in April, though the welcomed improvement was mostly caused by the shrinking labor force rather than an increase in jobs, economists said Friday.

"A tepid economic recovery continued to take hold in Nevada in April," said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation. "On the down side, the labor force continued to drop, adding to the roughly 44,000 who exited the work force in the last 12 months.

Nevada's economy is at least beginning to align with national trends, he said.

"As expected, Nevada lags the recovery, but the gap, at least measured by the unemployment rate, is beginning to narrow," Anderson said.


Read more: http://www.businessweek.com/ap/financialnews/D9NBCC781.htm

[MNBrewer]

1. Thanks for the rose-colored spam

"improvement was mostly caused by the shrinking labor force rather than an increase in jobs"

[nkt35500]

2. +1