Nevada County unemployment rate continues to decrease
A recent report from the California Employment Development Department shows continued improvement in Nevada County’s labor market.
Preliminary numbers indicate that the unemployment rate in Nevada County ticked down to 3.4 percent in November 2017, an unemployment rate that Nevada County hasn’t seen in almost 20 years, since November 1999.
According to Nevada County CEO Rick Haffey’s office, that’s down in comparison to November of last year which saw a 4.5 percent unemployment rate.
The year-to-year improvement comes even as more people have entered the labor force. In Nevada County, the increase in employment has outpaced the increase in people entering the labor force, resulting in a decrease in unemployment.
The improvement mirrors state and national trends, but Nevada County continues to perform better than most California counties and the nation. The unemployment rate of 3.4 percent is lower than the 4.1 percent national rate, and the county ranks as the 14th lowest rate in California, significantly outperforming the 4.0 percent statewide average.
This represents a marked improvement since the historic “Great Recession” where Nevada County’s unemployment rate peaked at 12.2 percent in 2010. According to a release from Haffey, the county unemployment rate was on par with the statewide rate at that time, and significantly above the national unemployment rate, which peaked at around 10 percent.
The November report from the California EDD can be found on its website.
Source: Nevada County
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