State jobless rate hits 22-year low

Tuesday, March 28, 2000 | 11:43 a.m.

"Statewide job growth is steady, although rural areas continue to suffer due to low gold prices and the resulting stress on the mining industry," Carol Jackson, director of the Department of Employment, Training and Rehabilitation, said on Monday.

The statewide, seasonally adjusted jobless rate fell 0.3 of a percent to 3.7 percent in February, the lowest since June 1978. That's below the nationwide February average of 4.1 percent.

In the Reno-Sparks region, the drop was more dramatic - a full 0.5 percent to 3.2 percent, again the lowest found in the state. That still was above December's 2.5 percent in the Truckee Meadows.

The four-county region encompassing Carson City, Lyon, Storey and Douglas also saw its unemployment rate drop nearly a full percentage point to 4.9 percent, driven partly by increased retail business in the heavily traveled U.S. 395 corridor.

The labor market in the Elko region, which for reporting purposes also includes Eureka County, tightened also, even as gold prices hit a four-month low of $279.85 an ounce on New York markets Monday.

Elko's jobless rate had dipped as low as 3.7 percent in December before ballooning to 5.8 percent in January and dropping in February to 4.8 percent.

The Las Vegas area dropped to 3.7 percent from 4.4 percent in January and 3.9 percent the previous February.

Jackson said all sectors with the exception of mining and construction have seen gains in the number of jobs statewide over the past 12 months.

Service industries, including casinos, hotels, recreation, medical-health, legal, engineering, accounting and management, gained 30,200 jobs over the year.