Nevada jobs down in June but up over the year, unemployment holds steady at 4 percent
Submitted by Jeff Munson on Wed, 07/17/2019 - 10:20am
CARSON CITY — June employment in Nevada is up 45,500 over the year, although the number of jobs decreased by 4,000 over the month, according to the state's Department of Employment, Training and Rehabilitation’s economic report released Wednesday.
The state’s unemployment rate is at 4 percent, remained unchanged from May, and is down half a percentage point when compared to last June, according to DETR's June 2019 economic report.
“It is encouraging to see that June’s numbers reinforce the State’s strong employment growth over the year, a movement Nevada has experienced for more than eight consecutive years," said Nev. Gov Steve Sisolak. "Although there was a slight decline in employment over the month, our employment gains remain strong, and unemployment level remains low. While these numbers are encouraging, we must continue to be vigilant in our efforts to ensure all the benefit of these ongoing, positive conditions of our economy and current labor market are afforded to all Nevadans.”
DETR’s report also notes that Nevada per capita personal income reached $49,458 in the first quarter of 2019 and was 90 percent of the national level which was $54,730.
The decline in the construction industry’s employment over the month was led by a decline in employment in specialty trade contractors, said David Schmidt, Chief Economist for DETR.
"With the strong demand we have seen in this industry, this month's number is not likely to be the start of a new trend, but we will closely watch this data over the next several months. The unemployment rate remains relatively low at four percent, historically speaking," he said.
For the 12-month period ending in June 2019, the long-term unemployment rate, including those unemployed for 27 weeks or more, remains at 0.8 percent and is down 6.2 percentage points from the peak seen in 2011, Schmidt noted.
"Overall, the employment picture around the state continues to remain positive but we will continue to monitor the labor market for signs of a turning point,” he said.
Additional June Report Highlights:
— Total employment rose by 3.3 percent over the year, more than double the current U.S. growth rate (1.5 percent).
Professional and business services have added the most jobs out of all sectors using a 12-month moving average through June over the same year time last year, up 13,100 jobs.
— From the fourth quarter of 2017 to the fourth quarter of 2018, in terms of volume of jobs added in establishments, employers with 500-999 employees led the way by adding 7,100 new jobs or growing by 8.5 percent. In absolute terms, the size class that saw the greatest increase in establishments over last year was 0-4 at 560 establishments.
— The gap between the U.S. unemployment rate and Nevada’s rate is the smallest it’s been since January of 2008, at 0.3 percentage point.
— Nevada’s long-term unemployment (those unemployed for 27 weeks or more) rate stands at 0.8 percent, unchanged over last June.
— The Nevada veteran unemployment rate was 1.9 percent in June 2019 decreasing from 4.9 percent the previous year, and below the state rate of 4.2 percent.
— From January 2014 to June 2019, the unemployment rate for Asians, Blacks, Hawaiian/Pacific Islander, American Indian, Alaskan Native, and Whites have all been trending downward.
Year-to-date through June, 179,032 ads have been posted for jobs in Nevada, an increase of 49,273 (38 percent) from the same period last year.
