Tuesday, March 10, 2009

Las Vegas Unemployment rate spikes to 10% - Nevada Overall at 9.4%

Unemployment Rates Seasonally Adjusted:

Nevada Statewide 9.4%
Las Vegas-Paradise 10.0%
Reno-Sparks 11.0%
Carson City 11.1%

Link to data

Nevada’s seasonally adjusted unemployment rate climbed to 9.4 percent in January, up from a revised 8.4 percent in December, said William Anderson, chief economist for the Nevada Department of Employment, Training & Rehabilitation (DETR). Nevada’s unemployment rate continues to surpass the national average, which was 7.6 percent in January.

January’s unemployment rate was the highest since August 1983. The unadjusted unemployment rate at both the state and MSA level topped 10.0 percent. The statewide rate reached 10.2 percent. Carson City experienced the highest unemployment rate, 11.1 percent, followed by Reno-Sparks at 11.0 percent, and a jobless rate of 10.0 percent in the Las Vegas-Paradise MSA, Anderson said.

Note: double the understated figures above for a closer idea of the true unemployment picture: Unemployment rate reality


Anonymous said...

Vegas getting killed!! I've been getting hotel offers from Venetian/Palazzo now at $109 per night (down from $299 6 months ago)they throw in all kinds of discounts at their shows, restaurants and gambling tables. Desperate for cash flow. No bottom in site.

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That unemployment rate could be understated.