03/26/2024

Nevada Unemployment Rate

  • 5.2% unemployment rate (seasonally adjusted) in February 2024, down 0.1 percentage points from January 2024.

  • Unchanged from 5.2% in February 2023

Nevada vs. US Unemployment Rate

  • The gap between NV and US seasonally adjusted unemployment rates for February 2024 is 1.3 percentage points. The gap decreased by 0.3 percentage points from January 2024.

  • Nevada’s seasonally adjusted unemployment rate has exceeded that of the nation since July 2007.

Unemployment Insurance Activity

February 2024 Unemployment Insurance Activity
Measure February 2024 February 2023 % change January 2024 % change 12 month
average
Initial Claims 10,928 9,089 20.2% 12,818 −14.7% 10,601
Weeks Claimed 98,382 74,852 31.4% 104,854 −6.2% 87,882
Weeks Compensated 90,424 67,992 33.0% 108,226 −16.4% 80,076
Amount Compensated $42,497,554 $28,868,577 47.2% $50,868,851 −16.5% $35,324,825
Weeks Compensated Total Unemployment 82,907 61,059 35.8% 99,800 −16.9% 72,783
Amount Compensated Total Unemployment $40,464,551 $27,208,366 48.7% $48,522,658 −16.6% $33,450,590
First Payments 5,642 5,058 11.5% 7,750 −27.2% 5,502
Final Payments (Exhaustions) 1,976 1,219 62.1% 2,454 −19.5% 1,755
Average Weekly Benefit $488.07 $445.61 9.5% $486.20 0.4% $457.68
Average Duration (in weeks) 13.23 11.26 17.4% 13.01 1.7% 12.14
Exhaustion Rate 34.15% 29.91% 14.2% 33.68% 1.4% 32.98%
Source: ETA 5159

Unemployment Insurance Activity

Unemployment Insurance Activity

Unemployment Insurance Trust Fund

Current Employment Statistics

  • Total (Seasonally Adjusted) Employment: 1,574,200 in February 2024

  • Nonfarm job levels are up 51,200 or 3.4% over the year.

Current Employment Statistics

  • Employment grew by 1.68% nationally year-over-year, as of February 2024. While employment grew by 3.36% in Nevada over the same period.

  • Nevada’s employment growth year-over-year exceeded the growth of the United States by about 1.69 percentage points. Compared to January 2024, Nevada’s employment growth decreased by about 0.31 percentage points, while the United States’ employment growth increased by about 0.08 percentage points over the same period.

Current Employment Statistics

Current Population Survey (CPS)

Current Population Survey (CPS)

12-Month Moving Average (MA) of Unemployment Rate Estimate by Educational Attainment
Educational Attainment February 2024 OTM Change in MA OTY Change in MA
Bachelor’s degree and higher 3.18% -0.28 0.33
High school graduates, no college 4.93% -0.47 -1.7
Less than a High school diploma 5.08% -0.56 -0.22
Some college or associate degree 3.57% -0.34 -2.3
Notes:
1 Changes are measured in percentage points.
2 Positive changes are colored red to easily spot increases in the estimate of the unemployment rate.
Source:
Current Population Survey

CPS: Labor Force Statistics by Age Group

Employed Level,
12-Month Moving Average (MA)
Age Group February 2024* OTY Change*
16-19 46.22 -4.72
20-24 137.94 -3.96
25-34 333.37 10.88
35-44 352.42 26.8
45-54 308.44 3.9
55-64 254.43 29.8
65+ 107.03 11.13
* Values are reported in thousdandths of persons
Labor Force Participation Rate,
12-Month Moving Average (MA)
Age Group February 2024 OTY Change*
16-19 34.33% -1.44
20-24 77.94% -0.01
25-34 82.50% 0.89
35-44 83.12% 1.44
45-54 83.94% 2.98
55-64 66.41% 2.68
65+ 22.01% 1.62
* Values are reported in percentage points
Unemployment Rate,
12-Month Moving Average (MA)
Age Group February 2024 OTY Change*
16-19 21.56% 5.13
20-24 8.95% 0.26
25-34 4.13% -0.92
35-44 5.52% 0.57
45-54 4.27% -0.21
55-64 4.00% -2.27
65+ 11.63% -3.3
* Values are reported in percentage points

CPS: Labor Statistics by Gender and Race/Ethnicity (Ages 16+)

Employed Level,
12-Month Moving Average (MA)
Gender Race/Ethnicity February 2024* OTY Change*
All All 1539.86 73.87
All Black 161.24 7.52
All Hispanic 452.68 9.63
All White 1119.85 44.76
Female All 707.68 33.98
Female Black 77.69 1.12
Female Hispanic 204.97 1.93
Female White 503.35 24.27
Male All 832.18 39.91
Male Black 83.54 6.39
Male Hispanic 247.71 7.71
Male White 616.47 20.45
* Values are reported in thousdandths of persons
Labor Force Participation Rate,
12-Month Moving Average (MA)
Gender Race/Ethnicity February 2024 OTY Change*
All All 62.70% 1.4
All Black 63.65% -2.11
All Hispanic 70.29% 1.64
All White 62.75% 2.17
Female All 57.09% 1.13
Female Black 61.05% -3.66
Female Hispanic 63.11% 1.34
Female White 56.51% 1.97
Male All 68.35% 1.66
Male Black 69.90% 1.69
Male Hispanic 77.52% 1.65
Male White 68.87% 2.37
* Values are reported in percentage points
Unemployement Rate,
12-Month Moving Average (MA)
Gender Race/Ethnicity February 2024 OTY Change*
All All 4.70% -0.86
All Black 6.49% -4.12
All Hispanic 4.50% -0.13
All White 4.09% -0.54
Female All 4.13% -1.24
Female Black 7.45% -4.63
Female Hispanic 4.18% -1.46
Female White 3.73% -0.91
Male All 5.21% -0.51
Male Black 10.28% -1.21
Male Hispanic 4.65% 0.86
Male White 4.44% -0.19
* Values are reported in percentage points