Las Vegas job market still sick but recorded largest drop in the jobless rate, government says

August 1, 2012 in Uncategorized | Permalink

Nevada unemployment rates declined in June edged up to 11.9 percent from 11.6 percent in May but registered well below the 14 percent level in June last year, the U.S. Bureau of Labor Statistics reported Wednesday.

In Las Vegas, the jobless rate climbed to 12.1 percent from 11.8 percent in May 2012, but again came in well below the 14.4 percent of June 2011.

Meanwhile, the number of workers in the civilian labor force in Las Vegas and the state as a whole is slipping.

The Las Vegas civilian labor force declined to 981,000 from 983,800 in May this year and also down from 992,000 in June of 2011.

Statewide, the bureau counted 1,371,300 workers, about the same as in May this year. But the Nevada civilian labor force has fallen from 1,386,000 in June last year.

The national unemployment rate in June was 8.4 percent, not seasonally adjusted, down from 9.3 percent a year earlier.

Unemployment rates were lower in June than a year earlier in 328 of the 372 metropolitan areas, higher in 32 areas, and unchanged in 12 areas, the bureau reported.

In June, 65 metropolitan areas reported jobless rates of at least 10.0 percent, down from 122 areas a year earlier, while 94 areas posted rates below 7.0 percent, up from 57 areas in June of last year.

El Centro, Calif., and Yuma, Ariz., recorded the highest unemployment rates in June, 28.2 and 27.9 percent, respectively. Bismarck, N.D., registered the lowest unemployment rate, 2.8 percent.

Among the 49 metropolitan areas with a Census 2000 population of 1 million or more, the highest unemployment rates in June were registered in Riverside-San Bernardino-Ontario, Calif., at 12.6 percent and Las Vegas-Paradise, Nev., at 12.1 percent.

Las Vegas-Paradise, Nev., experienced the largest unemployment rate decline from June 2011 (-2.3 percentage points), followed by Detroit-Warren-Livonia, Mich., and Tampa-St. Petersburg-Clearwater, Fla. (-2.2 points each).

In June 2012, Detroit-Livonia-Dearborn, Mich., at 11.4 percent and Los Angeles-Long Beach-Glendale, Calif.,  at 11.1 percent registered the highest jobless rates among the large cities.