Las Vegas sees first decline in unemployment since 2005

"I thought it would drop sooner. I thought the companies would hire more instead of keeping the money, and hopefully it will drop more and it will be a good Christmas season," says Las Vegas resident Connie Chin.

That holiday season may be a big part of the drop in numbers. "Economists are predicting a better holiday season than what we've seen in the past in this recession. So we do expect employers to hire a few more people than they typically would hire during this time of the year," says Mae Worthey with the Nevada Department of Employment, Training, and Rehabilitation.

"But now my nephew who's been unemployed for a year just got a job, so that's good news," says Chin. The numbers may also be skewed by the number of people that are leaving the state in search of jobs elsewhere. "That means there are people out there not competing for the jobs that they were competing for when some of those people have left the state were here," says Worthey.

It's a complaint many out of work people have expressed in the past. "When you hand in your application and then they call you back and tell you, 'Oh yeah, we've got a thousand applications for that one position,' where are you supposed to get a job," questions Dana Ayala, whose husband is out of work.

Another possible factor in the drop in unemployment is the fact that people may have just given up on looking for work. At 14.2 % unemployment for October, the numbers are still high. But Nevadans hope this is the beginning of the end. "We'll take what we can get because it's still better than seeing the unemployment rate creeping upward. It does mean something; it does show that some improvement must be on the horizon," says Worthey.

State economists say while the number of jobs eliminated are stabilizing, Nevada is still a long way from recovering and getting out of the recession. But for now, we can enjoy the first small drop in almost five years.