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.

Jones said that, in order to be able to continue to offer unemployment to those unable to find work in Nevada, the state may have to borrow as much as $1 billion. Without these funds, the agency could begin to struggle with finding money for these benefits by 2010.

According to Jones, the problem is that the state did not expect the rapid increase in joblessness. This, of course, caused the fund to become depleted much faster than they would have thought would have hoped.

According to the Bureau, there are approximately 167, 400 people in Nevada without jobs. Around 1,900 residents have already exhausted their unemployment benefits.
If the state takes this course of action, then those who have already used up their benefits would be eligible to receive an extension. This would add 13 weeks on to the amount of time benefits can be given to one individual, taking it from 79 weeks to 92 weeks.

Nevada would not be the first to ask for assistance from the federal government. With unemployment rates rising across the country, many states have not another choice. Currently there are 18 states receiving money for this reason. Many expect this number to double in the coming months if jobless rates don’t begin to drop significantly soon.

With the economy struggling several sectors have taken a particular hit. One of the worst suffering has been the manufacturing industry. Since many people are unemployed, the percentage of the population buying unnecessary manufactured goods has shrunk. As a result, many of the employers responsible for creating these products have had to layoff jobs. Because of this any news about new positions in this sector is welcomed. According to a recent press release, despite the fact that the industry isn’t fairing well, there will soon be new manufacturing jobs in Nevada new (For more information click here).

Scienceuticals, Inc., a manufacturer of a variety of beauty products, recently announced that they will be creating 25 jobs in Reno, Nevada before the end of this year. The positions will be for a variety of different types of jobs including: bench chemist, lab technicians, account managers, administrative staff, shipping/receiving workers and production staff.

Although there will only be 25 Reno jobs created this year, the press release stated that the company hopes to have more than 100 workers by the time it is fully operational, which is expected to be three years from now.

“Having a global beauty products and cosmetics manufacturer like Scienceuticals choose Reno to open its west coast facility is a real boon for our economy. Not only is the company occupying 55,000square feet, but it will employ 25 people in much sought after manufacturing jobs which couldn’t come at a better time,” said the president and CEO for the Economic Development Authority of Western Nevada Chuck Alvey in the recent press release. “The company selected Reno over other cities like Boise, Portland, Phoenix and Albuquerque which speaks to Greater Reno-Tahoe’s competitive business climate and the company’s growth plans. Scienceuticals also falls right in line with the Target2010 plan for our region’s future growth in the advanced manufacturing sector.”

Scienceuticals CEO and founder Donald Hayden seemed equally excited about the company’s choice of location.

“The combination of the business and lifestyle amenities that Reno has to offer fits out company perfectly,” said Hayden in the release. “We are pleased to be opening our new cosmetics contract manufacturing facility in Reno. Our customers will benefit from the increase in capabilities and we are excited to be creating jobs and contributing to the growth of this great community.”

Over the course of the last year unemployment has been steadily rising in Reno, meaning that the company will probably be greeted with an astounding number of applicants. During March 11.2 percent of the city’s population was without work, according to the U.S. Bureau of Labor Statistics. This is particularly significant when one considers that just last year only 6 percent of residents were jobless.