On November 10, 2020, Governor Sisolak urged Nevadans to stay home as COVID-19 cases spiked in recent weeks. Much like the rest of the United States, the Silver State has been dealing with resurgence of confirmed cases that is adding considerable strain to an already fragile economy. The increase in virus-related cases follows a two-month decline in new Nevada cases. With added restrictions becoming a possibility, the impact on the Nevada economy remains somewhat concerning.

Despite the day-to-day evolving nature of COVID-19 and the related response, Nevada’s employment situation continued to improve. October marked the sixth consecutive month of jobs gains, and the statewide seasonally adjusted unemployment rate fell to 12.0 percent from 12.5 percent in September. Despite recent improvements, the jobless rate stands 8.3 percentage points higher than the same period in 2019. Initial claims for unemployment insurance exceeded 37,000 in October. This number grew 10.2 percent compared to the previous month and easily remains above any period prior to 2020. The impact of the current situation is well documented, but it is important to consider a path forward that allows the unemployed to get back on their feet.

Click here to download the report and read more.