Nevada Jobless Trend (w/ Nifty Chart)

Posted on by & filed under Nevada by the Numbers Blog.

Yesterday, we explained why the broader U-6 unemployment rate is an important measure of the labor market. Following is an RCG chart showing both the official (U-3) jobless rate and the broader U-6 rate in Nevada over the past five years.

Our figures are rolling averages of the four quarters ending in each quarter on the y axis. Using rolling rolling average smooths out monthly irregularities, gets rid of “noise” (e.g., randomness) and helps reveal general trends.

U3U6chartNevada