We see “Help Wanted” signs all over the Las Vegas Valley these days. Then why does Nevada have the highest unemployment rate in the U.S.A.?
Worse yet, Las Vegas has the highest unemployment rate in the Silver State at 6%, followed by Reno and the Carson City area. According to an article written by KTNV Staff on KTNV.com, Nevada’s unemployment rate for February 2023 leads the nation at 5.5%, followed by the District of Columbia and Oregon at 4.7%. Which states have the lowest unemployment rates? That would be North Dakota and South Dakota, who are tied at 2.1%.
One would think that now that all of the COVID-19 pandemic shutdowns are behind us, and our city and state are fully open to tourists, that the unemployment rate would decrease. However, numbers from the U.S. Bureau of Labor Statistics show that our state’s unemployment rate has not changed since January of this year. Furthermore, the Nevada Department of Employment, Training and Rehabilitation (DETR) reports that there are over 70,000 unemployed people in the Las Vegas area. Per the KTNV.com article, that is 1,221 more unemployed residents than January 2023, and over 11,000 more unemployed individuals than February of last year!
So, with all of these statistics in mind, why do you think our state has the highest unemployment rate in the nation? Do you think it is because we have such a high transient population? Do you think it is because more and more people move here from high income tax states without securing employment first? Do you think it is because most of those “Help Wanted” signs that we see are for low-paying jobs and most folks are holding out for higher paying employment?
DETR officials believe that except for the leisure and hospitality industries, every other sector of the job market now employs more people than before the pandemic. Let’s hope our unemployment numbers improve in all sectors of our economy in the very near future.
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Larry Martino is the long-time Afternoon Drive personality on 96.3 KKLZ. The views and opinions expressed in this blog are those of Larry Martino and not necessarily those of Beasley Media Group, LLC.