Nevada unemployment rate at lowest in more than 3 years
Las Vegas, NV (KTNV) -- Nevada's unemployment rate is at its lowest level in three and a half years, according to Nevada's Department of Employment, Training and Rehabilitation.
The rate for the state dropped to a seasonally adjusted 11.5 percent for the month of October, down from 11.8 percent the previous month.
The rate for the Las Vegas area fell 0.4 points for 11.1 percent, which is still the highest in the state.
In the Reno/Sparks are, it feel 0.2 points to 10.6. A similar decline was also seen in Carson City -- 10.9 percent to 10.7 percent.
The unemployment rate for the state has averaged 11.9 percent in the first 10 months of the year. This is nearly two full percentage points from the same time period last year.
October saw a gain of 4,700 new positions. The typical gain is 2,500. Private sector job levels were 1,200 higher than the prior month and 3,200 more than last year.
So far this year, private sector payrolls are up 11,100 compared to first 10 months of 2011. In addition, public sector payrolls have shown signs of leveling off in recent months, following an extended downturn.
Wages are also up 2.6 percent points and the average weekly wage for the state is $830 per week.