Carson City and Reno boost Nevada's best June job growth in Silver State
Submitted by editor on Tue, 07/24/2018 - 11:12am
CARSON CITY — The capital city and Reno added jobs at a faster rate in June than anywhere else in Nevada, according to an economic report released Tuesday by the state's Department of Employment, Training and Rehabilitation.
Carson City was up 100 jobs both over the month and over the year, a 3.3 percent increase. Reno added 700 jobs over the month and 8,600 over the year, a 3.7 percent increase, making the "Biggest Little City" the fastest growing metro area in the state for job growth.
Las Vegas gained 400 jobs over the month and 26,000 over the year, a 2.7 percent increase.
Statewide, jobs increased by 2.8 percent, which correlates to 37,600 new jobs added since June of last year.
“This month’s data also shows that labor force growth is concentrated in the state’s urban areas which have been experiencing strong employment increases. Clark County’s labor force is up 29,440, while Washoe’s has increased 9,170 compared to the first six months of last year," said David Schmidt, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.
Both areas show an increase in employment and a decrease in unemployment. In each case, the decline in unemployment was more than matched by strong employment growth, leading to overall growth in the labor force, said Schmidt.
"This shows us that unemployed Nevadans are finding jobs, and that the State’s population centers continue to draw in new workers,” he said.
Additional June 2018 Economic Report Highlights:
Job Growth In June (Seasonally-Adjusted):
— Las Vegas gained 400 jobs over the month and 26,000 over the year (2.7 percent).
— Reno added 700 jobs over the month and 8,600 over the year (3.7 percent), making it the fastest growing MSA in the state.
— Carson City was up 100 jobs both over the month and over the year (3.3 percent).
Unemployment:
— Carson City: 4.3 percent; down 0.4 percentage point from a year ago.
— Las Vegas: 4.7 percent; down 0.8 percentage point from a year ago.
— Reno: 3.5 percent; down 0.8 percentage point from a year ago and is the only MSA in the state with an unemployment rate less than the US as a whole.
— Unemployment rates remain below four percent in nine counties.
— Unemployment rates declined on an over-the-year basis in 14 of 17 counties.
— Statewide, job ads are up by 18,400 over the year, totaling 131,500 year to date.
— Clark County and Washoe County have seen weekly initial claims decline 179 claims and 7 claims per week, respectively.
— Unemployment insurance benefits exhaustion rates ranged from less than ten percent in Eureka County to nearly 50 percent in Mineral County.
— Clarks UI benefits exhaustion rate is slightly higher than the statewide average.
Over-the-year estimates through June 2018 show that labor force growth is concentrated in the State’s urban areas. Most rural counties experienced declines in the labor force during this period.
