Nevada’s Unemployment Rate Declines to 5.5% Amid Job Growth
LAS VEGAS (KSNV) — Nevada’s unemployment rate dipped to 5.5% in May, a 0.1 percentage point decrease, according to the latest report from the Nevada Department of Employment, Training and Rehabilitation (DETR). The state’s labor force expanded by 3,484 individuals, bringing the total nonfarm jobs to 1,580,400—a 0.6% year-over-year increase and a gain of 500 jobs since April.
In the Las Vegas Metropolitan Statistical Area, employment increased by 600 jobs, or 0.1%, from April, and by 2,100 jobs, or 0.2%, compared to May 2024. Reno reported 200 new jobs since April, marking a 0.1% increase, and a 1.4% rise over the past year. Carson City saw stable employment levels since April but a 1.9% increase since last May.
Chief Economist David Schmidt noted the ongoing positive trends in Nevada’s labor markets, highlighting a rise in the labor force participation rate to 63.0%, surpassing the national average of 62.4%. Wages also continued their upward trajectory, with hourly wages up 6.8% and weekly wages up 7.5% year-over-year. For detailed labor data, visit www.nevadaworkforce.com.
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