Metro area unemployment rates fall below 5 percent

Metro area unemployment rates varied on a month-over-month basis, but decreased year over year in May. This marks the first time since late-2007 that all metro areas in the Silver State have unemployment rates below 5 percent, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation. The unemployment rate in Las Vegas remained at 4.8 percent and the rate in Reno stayed at 3.9 percent in May. Carson City’s rate declined to 4.7 percent, down 0.3 of a percentage point relative to April. Unemployment rates decreased on an over- the-year basis in all 17 of the state’s counties. “Although all of the state’s population centers decreased in May, job growth remains positive on year-over-year basis,” Anderson said. “Month-to-month volatility is not cause for concern as annual averages are a more accurate gauge of the Silver State’s economy which continues to show positive signs of improvement.”