Several recent studies have noted Nevada's less than impressive recovery.
Several recent studies have noted Nevada's less than impressive recovery.
Nevada continues to have the highest unemployment rate in the country as the state struggles more than many others to recover from the economic devastation brought on by the COVID-19 pandemic.
While the state added some jobs in July, the rate remains stubbornly high at 7.7%, which compares unfavorably to neighboring Utah's 2.3%, according to the latest Bureau of Labor Statistics figures.
Several recent studies have noted Nevada's less than impressive recovery, and its job numbers. An ongoing one published by Wallethub links more restrictions to slower economic recovery.
The July 15 WalletHub report, by researchers from top U.S. universities, found that Nevada was in the bottom five states in recovering employment due to COVID-19 and associated restrictions imposed by Democrat Gov. Steve Sisolak.
Another WalletHub study found that Nevada’s economy was affected worse by COVID-19 and associated restrictions than 90% of states, while a third concluded that the state's small businesses were affected by the crisis and restrictions worse than any other state.
Nevada did add 4,800 jobs in July and decreased its unemployment rate from 7.8% the previous month, according to Department of Employment, Training and Rehabilitation figures published Aug. 19, as reported by multiple outlets.
A total of 1,335,900 individuals were in the workforce in July. The unemployment rate was 16.6% at the same last year.
Nevada had the highest unemployment rate in the country, closely followed by California, New Mexico and New York at 7.6% each, the Bureau of Labor Statistics reported.
Nebraska and Utah had the lowest jobless rates, 2.3% and 2.6%. In total, 23 states had unemployment rates lower than the U.S. figure of 5.4%. Thirteen states and the District of Columbia had higher rates, and 14 states had rates statistically the same.
Separately, the U.S. Census Bureau conducted a weekly Small Business Pulse Survey from July 11-18.
According to the survey, 30.8% of Nevada small-business owners believe it will take more than six months before they will return to a normal level of operations, slightly less than the national average of 31.7% but up from previous weeks.
Overall, 22.3% of Nevada businesses believe the pandemic has had a large negative effect, compared to the national average of 25.2%.
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