Finding a Nevada job is now harder than it has been for the last 23 years, according to the most recent statistics. The state Department of Employment, Training and Rehabilitation found that unemployment once again rose, this time showing that 7.1 percent of the population was without work in August.

As of last month, approximately 97,700 residents were unable to find new jobs. These figures also do not take into account the percentage of the population that is underemployed. When jobs become scarce, many people begin to take whatever work they can come by, despite the fact that they may be over qualified or are taking a pay cut.

Currently, Nevada’s unemployment rate is a full percentage point higher than the national average and up significantly in comparison to last years statistics. During August of 2007, only 4.9 percent of residents were claiming jobless benefits.

According to Bill Anderson, who is the department’s chief economist, the struggling housing market, issues with credit and rising energy cost are playing a huge part in the problem. To top it off, area’s such as Las Vegas are being hit hard by the growing cost of travel. Tourist can’t afford to flock to city, let alone gamble away the money they need to fill their gas tanks.

Because of all of this, investors have already put two large Las Vegas casino projects on hold this year. Doing this caused the loss of many construction jobs, which were desperately needed since the high foreclosure rate in state has made demand for new buildings almost nonexistent.

Anderson went on to say that residents now less disposable income than usual, which has caused the demand for a variety of goods and services to decline drastically. Since many businesses aren’t turning the profit they are used, they have less money to spend on their payrolls.

This most recent turn of events has both state and local governments hurting for funding, which has caused them to make serve cuts in the services that they provide. Because of this, there has been increased interest in looking for new sources of tax based revenue for the state.

Despite the need for money, Republican Governor Jim Gibbons does not believe that taxing residents isn’t the answer. According to him, higher taxes “would just elad to more layoffs and hamper Nevada’s economic recovery.”

Labels: Nevada Jobs