RENO, NV - The number of employers in Nevada jumped to nearly 60,000, showing considerable improvement since the recession that began in 2007.
The increase to 59,900 represents a gain of 2,400 from a year ago and translates to a 4.1 percent increase, the strongest since the final three months of 2007, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation (DETR).
Available information suggests that about half of the growth in the number of employers over the past year is accounted for by two industries—professional/business services and trade/transportation/utilities.
“After a noticeable decline during the recession, the number of employers in Nevada has rebounded which is yet another indication that the state’s economy is on the mend,” Anderson said. All told, the number of employers in Nevada has increased relative to a year ago in each of the past 12 quarters. This underlying trend is very consistent with other barometers of the labor market’s health. For instance, the unemployment rate has been cut in half since peaking in the recession. Job levels have been trending up since January 2011.”
The number of employers peaked at 60,500 in 2008 prior to dropping sharply to about 56,400 in 2011.