Nevada loses jobs in December; Unemployment rate increases
While jobs were lost, employment is up 53,400 over the year since December 2021, an annual increase of 3.8 percent. The total employment level in the state is 1,476,000.
The state’s unemployment rate in December is 5.2 percent, increased by 0.3 from 4.9 percent in November and decreased by 0.1 percentage points when compared to December 2021.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
— Las Vegas employment decreased by 1,600 jobs (-0.1%) since November, an increase of 44,700 jobs (4.3%) since December 2021.
"As we close 2022, this report shows recent trends continuing. Annual job growth remains relatively high at 3.8 percent but is moderating with a slight decline from November’s peak," said David Schmidt, Nevada's Chief Economist. "The unemployment rate rose above 5 percent, and is likely to remain one of the highest rates in the country when national data is released next week. The labor force participation rate also increased, suggesting that workers continue to re-enter the workforce. "
The Research and Analysis Bureau is Nevada’s premier source for labor market information. A part of DETR, the Bureau is responsible for creating, analyzing, and reporting Nevada’s labor market information, in cooperation with the United States Bureau of Labor Statistics (BLS).
See the full report below.
Nevada Statewide and Metro Area Labor Market Overview for December 2022 by Carson Now on Scribd