News

Nevada replaces Michigan by becoming the state with the highest unemployment rate

Tuesday, January 17th, 2012

As per reports of Department of Labor, the unemployment rate of Michigan fell from 14 percent in April to 13.6 percent in May. This slight dip in the unemployment rate indicates that the manufacturing industry has been showing signs of improvement.

Meanwhile, Nevada’s unemployment rate has been 14 and hence it is the leading state in terms of unemployment. This is because Nevada’s top industries such as tourism and hospitality industries are yet to recover. Another thing is that Nevada is also the leading state in terms of the foreclosure rate. But according to a RealtyTrac report, the rate fell 12 percent from April. It is a known fact that the more the unemployment is, the worse the foreclosure gets.

As per the statistics, in the month of April the number of unemployed people in Nevada were 192,000 while in the month of May it was reportedly 1.18 million. According to the reports the state has a labor force of 1.37 million and still around 189,000 people are seeking jobs in the state actively but are unsuccessful in their attempts.

The news reports say that about 10,000 people have left the labor force from April to May, These have either given up job hunting or left the state. But according to Bill Anderson, who is the chief economist with the Nevada unemployment agency, the college graduates may enter the labor force during this season. He says that there has been no unfolding of positive trends that the state has seen in past.

For more details on the unemployment claims in Nevada, check out the Nevada unemployment benefits guide.