Las Vegas Job Market Shows Gains

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

According to the latest jobs numbers, Nevada’s unadjusted unemployment rate was 8.9 percent in January, up from 8.7 percent in December 2013. Both numbers were big improvements over the 11.2 percent rate Nevada logged in January 2013.

The Las Vegas-Paradise MSA gain of approximately 26,000 jobs while losing only approximately 8,600 jobs from the total labor force over the past 12 months is a big net positive for the southern Nevada job market.

Statewide payrolls have grown by 89,600 since bottoming out in September 2010. However, despite 37 consecutive months of job growth, there were still 92,000 fewer jobs on non-farm payrolls in January than when the recession began.

Here are the January labor force and employment statistics for Nevada and Las Vegas-Paradise MSA (which includes Clark County):

Statewide* 

(estimates in thousands)
                                       Jan ’14        Jan ’13          # Change    % Change

TOTAL LABOR FORCE       1,368.8       1,379.0         -10.2            -0.7%

UNEMPLOYMENT RATE         8.9%         11.2%         N/A

Seasonally Adjusted Establishment Based Employment*

TOTAL ALL INDUSTRIES     1,201.1        1161.7         39.4             3.4%

 

Las Vegas-Paradise MSA*

                                       Jan ’14       Jan ’13          # Change    % Change

TOTAL LABOR FORCE        988.7         997.3           -8.6             -0.9%

UNEMPLOYMENT RATE       8.9%        11.2%           N/A

Seasonally Adjusted Establishment Based Employment*

TOTAL ALL INDUSTRIES*   863.8         838.0         25.8             3.1%

 

Source: Research and Analysis Bureau, Nevada Department of Employment, Training & Rehabilitation (DETR). DETR’s employment estimates are produced by the Current Employment Statistics program. 

*Employment estimates are produced by the Current Employment Statistics program. Labor Force estimates are produced by the Local Area Unemployment Statistics program.