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Does Nevada currently have one of the worst unemployment rates in the country?

By Esther Tsvayg
YES

As of Oct. 21, 2022, Nevada’s unemployment rate of 4.4% puts it as having the 48th worst unemployment rate out of 50 states and the District of Columbia. Although Nevada’s unemployment rate declined significantly from 2021 to 2022, it still remains a point higher than it had been pre-pandemic. While the state’s pre-pandemic unemployment rate mirrored the national rate, unemployment in Nevada reached a record high of 28.5% in April 2020, and the state continues to lag behind the nation’s overall unemployment rate of 3.7% in its post-pandemic economic recovery. One of the biggest indicators of how well the state’s economy is doing is the revenue it receives from gaming and tourism. Despite low tourism volume, 2021 saw a record $7.1 billion of revenue generated by strip casinos. 2022 is expected to break that record, ahead of revenue collected at this point in 2021 by significant margins.

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Sources
US Bureau of Labor Statistics Current Population Survey (CPS)
US Bureau of Labor Statistics Unemployment Rates for States
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