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Archive for June, 2018

Vegas jobs climb

Wednesday, June 6th, 2018

The number of Vegas jobs are growing, according to recent labor statistics.

According to the Department of Employment, Training and Rehabilitation’s (DETR) April 2018 economic report, job growth continued throughout the Silver State in April with slight increases in employment in all three metropolitan areas. Year-over-year employment increase persists in the State as a whole, while unemployment remained constant at 4.9%.

Job Growth In April (Seasonally-Adjusted):

o Las Vegas gained 1,600 jobs over the month and 30,500 over the year (3.2 percent).

o Reno added 800 jobs over the month and 9,500 over the year (4.1 percent).

o Carson City was up 800 jobs over the year (2.7 percent).

Unemployment:

o Las Vegas: five percent; down 0.3 percentage point from a year ago

o Reno: 3.9 percent; down 0.4 percentage point from a year ago

o Carson City: 5.2 percent; down 0.1 percentage point from a year ago

April unemployment rates ranged from 2.9 percent (Eureka) to six percent (Lyon). Elko, Eureka, Humboldt, and Washoe counties all had unemployment rates below four percent, the lowest such rates in the state.

Las Vegas and Reno continue to realize record highs in employment.

Information for 2016 shows personal income in Nevada reached $119 billion, up 1.7 percent from a year ago.

Las Vegas (up 2.3 percent) and Reno’s (up 1.9 percent) average personal income growth has exceeded that for the State in 2016.

The Reno-Sparks area was the top goods exporter in Nevada in 2016, shipping $2.4 billion worth of goods abroad. Washoe (+3,000) experienced the largest increase in job posting volume over last year, totaling 15,200 ads year-to-date.

Does balance mean Vegas jobs?

Wednesday, June 6th, 2018

A high balance in the unemployment insurance funds may mean there has been a growth of Vegas jobs.

Nevada’s Unemployment Insurance (UI) Trust Fund Ends First Quarter with Record Balance of $1.1 billion, while the state added 4,300 jobs and unemployment remains unchanged at 4.9%, according to the Department of Employment, Training and Rehabilitation’s (DETR) April 2018 economic report.

“As the first quarter of the year closes, I am encouraged by the Nevada’s Unemployment Insurance Trust Fund ending record-high balance of $1.3 billion, the highest solvency level in the fund’s history,” said Governor Brian Sandoval. “The record-high number of employers in the State’s UI System in the first quarter is also promising, as this contributes to the State’s Trust Fund fortifying Nevada’s position in the next recession, something we have been working on for the last 10 years.”

DETR’s report also notes that the total number of employers participating in the state’s unemployment insurance system rose above 70,000 for the first time at the end of the first quarter. This continued growth in the number of employers in the state helps drive total employment growth, at 3.4% in April, a rate that’s more than double the national rate of 1.6%.

“Although we are not seeing substantial changes in April, the state employment remains robust with an increase of 40,300 more Nevadans in the labor force, either working or actively seeking employment.” said David Schmidt, Chief Economist for DETR.

“The state’s total labor force at 1,488,829, is up about 12,000 from January. At this rate, the state will undoubtedly have a total labor force of over 1.5 million before the end of the year.”