As Baby Boomers exit the workforce, the nation will continue to see tightening in the labor market, defined as adults aged 20-64. By 2030 the Census projects the ratio of working-age adults to dip to 55.8% from 59.6% in 2015.
However, an analysis from the Conference Board indicates that Nevada’s labor force will decline only 2.1% over the same period, almost half the national average. Only Utah comes in with a lower rate of decrease. In general, the declines are more severe in the northern half of the United States:
Why is Nevada faring so well? Being a retirement destination has inflated our boomer ranks slightly, which actually puts at greater risk for workforce shrinkage. However, our status as a destination for immigrants and young people from other parts of the country more than makes up for it. While some of the sunbelt migration trends are a factor, it is interesting to note that Nevada is outperforming so many neighbors as well as growing Southern states.