January unemployment claims down in Nevada

Initial claims for unemployment insurance in Nevada totaled 12,900 in January, down 0.5 percent from December’s’s mark of 13,000. Overall, initial claims activity is down 8.7 percent relative to January of 2017, a decrease of 1,200 claims.

The reduction in initial UI claims is likely an indication that the seasonal peak of claims activity has been reached, with declines more than likely being reported next month. Year-over-year declines in initial claims activity have been recorded in nine of the past 12 months.

Other positive indicators include the average duration claimants receive benefits is down 5.7 percent, and the share of claimants who ran out of benefits prior to finding employment is also down at 34.7 percent.