Revision shows additional 50,000 jobs added in December, Nevada unemployment drops to 5.2 percent
After revisions, new information on December job figures in Nevada shows the state gained 50,000 more jobs than previously reported for the month, according to the state's Department of Employment, Training and Rehabilitation.
According to DETR's January 2022 economic report, employment in December was 50,400 jobs higher than initially reported, with annual revisions showing Nevada much closer to pre-recession employment than originally estimated.
Since January 2021, employment is up 132,900, an increase of 10.3 percent. The total employment level in the state is 1,425,400, and is 24,200 jobs below its February 2020 peak. The state’s unemployment rate in January is 5.2 percent, down from 5.3 percent in December and down 5.0 percentage points when compared to January 2021.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
— Carson City employment was unchanged since December, but saw an increase of 900 jobs (3.0%) since January 2021.
— Reno employment had an increase of 1,300 jobs (0.5%) since December, an increase of 9,700 jobs (4.0%) since January 2021.
— Las Vegas employment increased by 2,400 jobs (0.2%) since December, an increase of 119,800 jobs (13.1%) since January 2021.
“I’m pleased to see Nevada’s economy was performing much better at the end of last year than we originally believed and that momentum is carrying us forward into 2022," said Gov. Steve Sisolak. "The state continues to take huge steps forward with more jobs in Reno than before the pandemic and Las Vegas showing job gains across most of its industries. Jobs are rising, unemployment is falling, and Nevadans are finding jobs to provide for their families."
“Between the annual revisions to our employment and unemployment data and ongoing improvement from December to January, this is a very positive report. Compared to our initial estimates, Nevada added over 50,000 jobs in December, and added 2,800 more in January," said David Schmidt, Nevada's Chief Economist.
The Reno-Sparks area now has more jobs than before the pandemic, and while Las Vegas remains 25,000 jobs below February 2020, employment outside of casino-hotels is 6,000 jobs higher than before the pandemic, said Schmidt.
"The unemployment rate in Nevada is half of what it was a year ago. From 2015-2019, the unemployment rate in Nevada averaged 5.2 percent — the same rate we see in January,” he said.
Go here for additional labor market data view the department’s employment and unemployment dashboards.