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Archive for May, 2017

Construction jobs in Vegas go

Monday, May 8th, 2017

The number of construction jobs in Vegas may be growing, according to recent labor statistics.

Nevada’s unemployment rate fell to a seasonally-adjusted 4.8 percent in March, down from 4.9 percent in the previous month. March marks the second month in a row that Nevada’s seasonally adjusted unemployment rate has been below 5 percent.

This is the lowest the rate has been since late-2007 and represents the 73rd consecutive month of year-over-year declines.

“The Silver State continues to show steady improvement in the unemployment rate and I’m proud to announce we’re currently ranked fourth in the nation in job growth. This month’s rate and employment numbers are significant milestones and it’s encouraging to learn that initial claims for unemployment insurance have hit levels not seen in two decades,” said Governor Brian Sandoval. “I remain encouraged by the state’s progress and will continue our efforts to ensure quality job opportunities for all Nevadans.”

Key points:

Construction has the most percentage job growth, up 7.4 percent, or 5,400 jobs year-to-date. • Leisure and hospitality, and professional and business services hold the largest nominal growth at 8,400 jobs. • Initial unemployment insurance claims declined by 13 percent in March. Additionally, March’s claims activity is the lowest level for the month since 1996. • Personal income in 2016 reached $128 billion, up 5.9 percent from 2015. This represents the strongest gain in the nation. It has increased in 26 out of the past 27 quarters, following seven straight quarters of decline during the recession.

Vegas jobs added

Monday, May 8th, 2017

Private sector employment has grown, which means Vegas jobs have been increasing as well.

Private sector employment increased by 177,000 jobs from March to April according to the April ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute.

Total U.S. Nonfarm Private Employment: 177,000

By Company Size

  • Small businesses: 61,000
    • 1-19 employees 28,000
    • 20-49 employees 33,000
  • Medium businesses: 78,000
    • 50-499 employees 78,000
  • Large businesses: 38,000
    • 500-999 employees 31,000
    • 1,000+ employees 7,000

By Sector

  • Goods-producing: 12,000
    • Natural resources/mining 3,000
    • Construction -2,000
    • Manufacturing 11,000
  • Service-providing: 165,000
    • Trade/transportation/utilities 5,000
    • Information 1,000
    • Financial activities 2,000
    • Professional/business services 72,000
      • Professional/technical services 10,000
      • Management of companies/enterprises 9,000
      • Administrative/support services 53,000
    • Education/health services 41,000
      • Health care/social assistance 22,000
      • Education 19,000
    • Leisure/hospitality 35,000
    • Other services 9,000

“In April we saw a moderate slowdown from the strong pace of hiring in the first quarter,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Despite a dip in job creation, the growth is more than strong enough to accommodate the growing population as the labor market nears full employment. Looking across company sizes, midsized businesses showed persistent growth for the past six months.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Job growth slowed in April due to a pullback in construction and retail jobs. The softness in construction is continued payback from outsized growth during the mild winter. Brick-and-mortar retailers cut jobs in response to withering competition from online merchants.”

Vegas jobs and the aging workforce

Sunday, May 7th, 2017

A recent survey from Careerbuilder looks at Vegas jobs and the aging workforce.

The study explores employment trends for the 100 most populous U.S. cities, tracking how the shares of workers ages 22 to 34 and ages 55 and older have changed from 2001 to 2016.

Summary of Key Trends

  • North Port, FL (North Port-Sarasota-Bradenton), has experienced the greatest increase in the share of workers ages 55+ from 2001 to 2016, followed by Oklahoma City, OK, Virginia Beach, VA, Sacramento, CA, and Spokane, WA. In addition to North Port, FL, seeing the greatest increase in share of workers ages 55+ from 2001 to 2016, it also saw the greatest decrease in millennials over the same period.
  • Madison, WI, has experienced the greatest increase in the share of workers ages 22-34 from 2001 to 2016, followed by El Paso, TX, Colorado Springs, CO, Allentown, PA, and Austin, TX.
  • Looking at more recent years, Madison, WI, and Colorado Springs, CO, experienced the greatest influx of millennial workers since 2011. August, GA, Palm Bay, FL, and Nashville, TN, round out the top five.
  • Among the 10 most populous cities, San Francisco, CA, New York, NY, and Atlanta, GA, saw the biggest increase in millennials since 2011.
  • North Port, FL, has the largest overall share of workers ages 55+ (25.8%), followed by New Haven, CT (24.9%), Pittsburgh, PA (24.7%), Hartford, CT (24.4%), and Deltona, FL (24.4%).
  • Among the 10 most populous cities, Philadelphia, PA (23.1%), Miami, FL (23.0%) and New York, NY (22.8%), have the largest share of workers ages 55+.
  • Provo, UT, has the highest overall share of millennial workers —35.4% of its workforce was aged 22-34 in 2016, roughly the same as in 2001 and 2011. Other top ranking cities include El Paso, TX (32.3%), Austin, TX (32.3%), Salt Lake City, UT (32.2%), and San Diego, CA (31.9%).
  • Among the 10 most populous cities, Washington D.C. (29.0%), Dallas, TX (28.8%), and Los Angeles, CA (28.8%), have the highest overall share of millennial workers.
  • While San Diego, CA, has a high concentration of younger workers, it’s also among the cities that have experienced the greatest exodus of millennials from its workforce since 2011.
  • Cities experiencing the biggest declines in millennial workers since 2011 includeTucson, AZ, San Diego, CA, Urban Honolulu, HI, Bakersfield, CA, and Toledo, OH.
  • None of the 10 most populous cities experienced a decline during this period.