Nevada job growth continues, unemployment down

Governor Ron Desantis announced the employment number has increased in Florida. (MGN)
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CARSON CITY, Nev. (KOLO)-- The number of jobs in Nevada is up and unemployment is down compared to both October and a year ago, the state of Nevada said Wednesday.

Nevada’s unemployment was 4 percent, down from October’s 4.1 percent and last November’s 4.4 percent.

In November, Nevada added 5,800 jobs since October and 36,900 jobs for the year.

The Nevada Department of Employment, Training and Rehabilitation’s November report are up 742 over the month but down 1,463 claims over the year. This decline brought the 12-month average level of initial claims below 10,000 for the first time since March 1999, DETR said.

“I am pleased to see this month’s positive economic report,” Gov. Steve Sisolak said in a statement. “Employment trends in the state continue to grow and remain optimistic. Nevada has had one of the fastest-growing private sectors in the nation for the past six years. I am also pleased to see that the average wages are up. As our state continues to take steps forward in providing quality job opportunities, we will continue to work to see the benefits of this economy reach every Nevadan.”

Nevada had weaker job growth in October but has rebounded from that, David Schmidt, chief economist for DETR, said in the statement. Nevada’s previously strong job growth makes it difficult to maintain growth but the state continues to do so, Schmidt said.

“Despite those challenges, we continue to see employment growth that is well above the national average and spread across many different industries,” Schmidt said. “Additionally, average wages in the state are up over the year and the unemployment rate has fallen back to 4.0 percent.”

Other report highlights:

  • Total employment rose by 2.6 percent over the year, growing at the low end of the range seen over the last year (2.4% - 4.1%).

  • Professional and business services added the most jobs out of all sectors, for the 12-month period ending in November 2019, increasing by an average of 11,200 jobs over the same time in the year prior.

  • Total gross domestic product (GDP) in Nevada was $153 billion (in 2012 dollars) in this year’s second quarter. Nevada’s GDP has now grown in 21 consecutive quarters.

  • As of the second quarter of 2019, Nevada has the third fastest growing private sector in the United States just behind Utah and Idaho.

  • The number of small businesses in Nevada are at a new record high of 82,100 in the second quarter of 2019.

  • Employment in Nevada’s small businesses, those firms with less than 100 employees, totaled a new record high of roughly 665,000 in the second quarter of 2019.

  • Weekly wages in Nevada averaged $961 during the second quarter of 2019. This compares to $930 during the same period last year, an increase of $31 or 3.3 percent, year-over-year.

  • Year-to-date through November, 355,732 ads have been posted for jobs in Nevada, an increase of 27,883 (8.5 percent) from the same period last year.

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