Nevada’s labor force grows in December; Unemployment rate unchanged
According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) December 2023 economic report, Nevada’s unemployment rate was unchanged from November to December with the rate staying at 5.4 percent. The labor force in the state grew by about 6,300, marking a year straight of over the month labor force growth in Nevada, and giving Nevada its largest labor force ever of over 1.62 million.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
o Las Vegas employment increased by 800 jobs (0.1%) since November, an increase of 45,900 jobs (4.1%) since December 2022.
o Reno employment had a decrease of 800 jobs (-0.3%) since November, an increase of 5,700 jobs (2.1%) since December 2022.
o Carson City employment had a decrease of 200 jobs (-0.6%) since November, an increase of 600 jobs (1.9%) since December 2022.
“Nevada ends 2023 continuing to add jobs at a brisk pace while maintaining stable unemployment. For the first time, the accommodation and food service industry employs more people than before the pandemic, and seasonal retail hiring increased above the level seen from 2018 to 2022.” said David Schmidt, Chief Economist.
To see additional labor market data view the department’s employment and unemployment dashboards located at www.nevadaworkforce.com.