Nevada Bucking National Trend in Jobs

By: Vicky Nguyen
By: Vicky Nguyen

Job growth and business development are on the rise in Nevada.

A new report by the Economic Policy Institute says the Silver State is high on the radar for companies looking for a place to set up shop.

And overall it paints a pretty rosy picture.

Researchers say Nevada is one of 15 states bucking the national trend of layoffs and payroll cuts.

But local economists say there is still a lot of work to be done if the state wants to keep the job market open.

Nevada's image as a gaming and tourism state is changing.

Manufacturing and construction are now attracting attention from companies in other states, especially in the West.

"Manufacturing in California is being pressed hard by utility rates, medical leave issues, workers comp," says Chuck Alvey of the Economic Development Authority.

Local economists say Nevada is emerging as a business powerhouse in several industries.

"Among the industries, distribution, warehousing, logistics, high tech we're starting to pick up some," Alvey says.

As more people move to the state, more service in consumer retail and healthcare is needed, fostering job growth in those sectors.

The latest research also shows Nevada continues to rank as the 4th-fastest job producing state in the nation.

"They say it's nice to live where you vacation and that's bringing people here," says Alvey.

While the state's booming population does account for some of the job growth, analysts say Nevada has a lot of untapped potential, much of it stemming from our prime location.

Notes Alvey: "California is the 6th largest economy. We can be the gateway to that."

A gateway to the national and international market..and economists say as long as the Silver State can get the word out. It won't take long before Nevada is known as a central hub for business.

But Nevada is not without challenges in its effort to self market.

Local economists say the state needs to improve its educational and training resources to attract more high skill, high paying jobs.

Take hi-tech for example, it's no good to have a company here if you don't have the resources to keep your staff trained.

So we're on the right track, but it's still going to take some work.


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