Although many experts believe that the recession could be nearing an end, the Nevada jobs (click here for more information) situation continued to worsen in June. According to the most recent data form the Bureau of Labor Statistics, the state’s unemployment rate rose 0.8 percent from May’s 11.2 percent to 12 percent during the month.
This is a significant increase compared to June of the previous year. In 2008 only 6.4 percent of Nevada’s population was unable to find work. Currently the national unemployment rate is 9.4 percent.
The continual rise in unemployment in Nevada has caused some serious concern. The state’s fun to pay for jobless benefits has become seriously depleted over the course of the last year. According to Cindy Jones, the Nevada Employment Security Division’s administrator, the trust fund has fallen from $806 million to $70 million in just 12 months. Because of this, the agency is now in a position where borrowing money from the federal government may be necessary.