Initial claims for unemployment insurance in Nevada totaled 12,900 in January, down “Point Five” percent from December. The Nevada Department of Employment and Training reports, overall, initial claims activity is down 8.7 percent relative to last January, a decrease of 1,200 claims. They suggest the reduction in initial UI claims is likely an indication that the seasonal peak of claims activity has been reached, with declines more than likely being reported next month. Year-over-year declines in initial unemployment claims activity have been recorded in nine of the past 12 months. Also, the average unemployment duration has fallen to 13.3 weeks, down from 14 weeks a year ago. The exhaustion rate, that point when benefits run out is at 34.7 percent, 2.8 percentage points lower than last January.