Monday, November 22, 2010

Nevada Exodus

As the situation improves, more people are leaving Nevada:

While DETR's Chief Economist Bill Anderson said the report is a sign that the recession's grip on Nevada may finally be loosening, he added that one contributing factor to the state's unemployment rate drop is the decline in the number of individuals looking for employment in Nevada.

"Most likely, a number of workers have moved out of the state, while some have become discouraged and stopped looking for work," he said.

Parker also said the state's unemployment rate is heavily impacted by a decline in Nevada's workforce as people leave the state and to look for work elsewhere.

Estimates show Nevada will lose 70,000 residents this year, Parker said.

The migration has been occurring for some time, Parker said, but this is the first month people have been leaving the state's labor force faster than it has been losing jobs.

Will the last person to leave Las Vegas please turn out the lights?

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