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Archive for March, 2015

Transportation jobs in Vegas grow

Monday, March 30th, 2015

The latest employment situation summary points out that transportation jobs in Vegas might be growing.

According to the Bureau of Labor Statistics, transportation and warehousing added 19,000 jobs in February, with most of the gain occurring in couriers and messengers (+12,000). Employment in transportation and warehousing grew by an average of 14,000 per month over the prior 12 months.

Manufacturing employment continued to trend up in February (+8,000). Within the industry, petroleum and coal products lost 6,000 jobs, largely due to a strike.

Employment in mining decreased by 9,000 in February, with most of the decline in support activities for mining (-7,000).

Employment in other major industries, including wholesale trade, information, financial activities, and government, showed little change over the month.

Employment in retail trade continued to trend up in February (+32,000) and has grown by 319,000 over the year.

In February, food services and drinking places added 59,000 jobs. The industry had added an average of 35,000 jobs per month over the prior 12 months.

Employment in professional and business services increased by 51,000 in February and has risen by 660,000 over the year. In February, employment continued to trend up in management and technical consulting services (+7,000), computer systems design and related services (+5,000), and architectural and engineering services (+5,000).

Construction added 29,000 jobs in February. Employment in specialty trade contractors rose by 27,000, mostly in the residential component. Over the past 12 months, construction has added 321,000 jobs.

In February, employment in health care rose by 24,000, with gains in ambulatory care services (+20,000) and hospitals (+9,000). Health care had added an average of 29,000 jobs per month over the prior 12 months.

Overall, employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent

Engineering jobs in Vegas are good on ROI

Wednesday, March 25th, 2015

A college return on investment report from Payscale shows how engineering jobs in Vegas, among other locales, from engineering schools have an excellent return on investment.

Highlights from PayScale’s 2015 College ROI Report include:

The top schools overall for 20-Year Net college return on investment (not taking into account financial aid) are Harvey Mudd College, California Institute of Technology (Caltech), and Stevens Institute of Technology.

Engineering schools continue to dominate the top of the list. The schools ranked 1 through 4, overall, and 7 out of the top 10 schools, are engineering schools. The average 20-Year Net ROI for Engineering schools is $677,500 while For Profit, Liberal Arts, Religious, Art, and Music & Design Schools all have an average 20-Year Net ROI of less than $250,000.

Alumni who majored in engineering, computer science & math or business fields or ended up working in business/finance or computer and math careers have the best chance of seeing a 20-Year Net ROI above $1 million.

State Schools dominate the list when sorted by 20-Year Annualized ROI % which is indicative of their relative low cost when compared to Private Schools. Thirty-seven out of the top 40 schools, overall, for Annualized ROI have four-year on-campus costs below $100,000. Brigham Young University (BYU), a private school, is the exception to the rule, ranking second overall on Annualized ROI. The average 20-year Annualized ROI of the included schools is 8.94%.

The 20-year Annualized ROI for both Apple (24.8%) and Microsoft (15.2%) beat out the Annualized ROI for all schools included in the report.

More than 88 percent of schools included in the report have a 20-year Annualized ROI higher than US Treasury Bonds (2.5%), but only 24 percent of schools included have an Annualized ROI higher than the S&P 500 (7.8%).

All public Engineering schools included in the report have a 20-year Annualized ROI above the Vanguard Total Stock Index (9.8%) while all private Engineering schools have an Annualized ROI that falls below it.

Texas, California, and Washington have the highest average percentage of alumni who stay and work in the state after graduation at 85%, 84%, and 78%, respectively. Vermont has the lowest average percentage of alumni who stay in the state at 19%.

Construction jobs in Vegas grow

Monday, March 9th, 2015

The latest ADP report points out that construction jobs in Vegas may be growing.

Overall, the construction industry added 31,000 jobs, the same number as last month. Meanwhile, manufacturing added 3,000 jobs in February, well below January’s 15,000.

oods-producing employment rose by 31,000 jobs in February, down from 45,000 jobs gained in January.

Service-providing employment rose by 181,000 jobs in February, down from 206,000 in January.

The ADP National Employment Report indicates that professional/business services contributed 34,000 jobs in February, a drop-off from January’s 49,000.

Expansion in trade/transportation/utilities grew by 31,000, a sharp decline from January’s 50,000.

The 20,000 new jobs added in financial activities is an increase from last month’s 15,000 and marks the largest gain in that sector since March 2006.

Payrolls for businesses with 49 or fewer employees increased by 94,000 jobs in February, down slightly from 97,000 in January. Employment among companies with 50-499 employees increased by 63,000 jobs, down from 106,000 the previous month.

Employment at large companies – those with 500 or more employees – increased from January adding 56,000 jobs, up from 47,000.

Companies with 500-999 employees added 18,000 jobs, up from January’s 16,000. Companies with over 1,000 employees added 38,000 jobs, up from 30,000 the previous month.

Events create more Vegas hospitality jobs

Tuesday, March 3rd, 2015

A large amount of events coming up will probably boost the number of Vegas hospitality jobs.

The highly anticipated NASCAR weekend starts the month off strong with an expected 150,000 fans gathering at the Las Vegas Motor Speedway March 6-8. NASCAR is the largest sporting event in the state and is expected to generate more than $165 million in non-gaming economic impact. The races include the Xfinity Series Sam’s Town 300 on Saturday and the Sprint Cup Series Kobalt 400 on Sunday.

Racing month continues with the iconic Mint 400 March 11-15, a grueling desert race that features some of the best off-road competitors in the world. The Monster Jam World Finals is a family favorite featuring the top monster truck drivers as they jump, roll and trample the competition at Sam Boyd Stadium March 26-28.

Major League Baseball takes over Cashman Field March 13-14 for what has become a springtime tradition for visitors and residents alike. The Chicago Cubs will make their 11th consecutive appearance for Big League Weekend facing the Oakland A’s. More than 19,000 people are expected to attend the games.

“March is our busiest month of the year for visitation for a variety of reasons- there really is something for everyone this month,” said Cathy Tull senior vice president of marketing for the Las Vegas Convention and Visitors Authority. “Whether you are a sports fan, soaking up the sun on spring break or celebrating St. Patrick’s Day, Las Vegas offers an exciting atmosphere and one-of-a-kind experience for everyone and is the perfect place to be in March.”

Meetings, conventions and trade shows are expected to bring more than 126,000 attendees during the month of March. Las Vegas will host six major shows including ASD Las Vegas, Ace Hardware Corporation and International Pizza Expo at the Las Vegas Convention Center, Wedding & Portrait Photographers Conference Expo at MGM Grand, Globalshop at Mandalay Bay and American Academy of Orthopedic Surgeons at the Sands Expo.