Joblessness decline mostly due to seasonal adjustments and people leaving labor force

According to Nevada’s Department of Employment, Training and Rehabilitation, “Nevada’s unemployment rate for December fell to a seasonally adjusted 6.8 percent, down from 6.9 percent in November and 9 percent in December 2013. This is the lowest the rate has been since June 2008 when it was also at 6.8 percent.”

Yes, Nevada jobs have grown in number over the past few years but there was a hitch in the get-along in December from November in the unadjusted stats there warrant a cautionary note. In one month the labor force actually fell by 10,200 — which is accounted for the number of jobs falling 6,400 and the number of jobless falling by 3,800. This means much of the decline in the unadjusted statewide jobless rate — 6.9 percent to 6.7 percent — is explained by people leaving the workforce.

“The Silver State continues to experience positive gains in our job market, pointing to overall improvements in our economy,” said Governor Brian Sandoval. “I am pleased to see Nevadans are going back to work and employers are adding jobs, helping to strengthen our communities. There is still work to do and I remain committed to continuing our efforts to build a strong and sustainable economy for future generations.”

I don’t think $1.2 billion in new taxes will help much.