Gov. Sandoval: Nevada has recovered all jobs lost during recession plus added more
Submitted by editor on Fri, 09/30/2016 - 2:51pm
Considered one of the hardest hit states during the nationwide recession and downturn eight years ago, Nevada Governor Brian Sandoval announced Friday that the Silver State has surpassed pre-recession employment, gaining more than all of the jobs lost during the recession.
Nevada has added 190,100 jobs since the recovery began, said Bill Anderson, chief economist for the state's Department of Employment, Training and Rehabilitation. Employment levels are now at an all-time high at 1,301, 300.
Sandoval announced the news at the Governor’s Conference on Business Friday at the Rio Hotel and Casino in Las Vegas.
“I am pleased to announce Nevada has officially gained back all of the jobs lost during the recession. This is a great day for our state and we should all take pride in this exciting news," said Sandoval. "Through sacrifice, determination and true grit we have risen from the depths of the great recession to build a stronger and more resilient Nevada. Business owners across Nevada help sustain the promise of opportunity for the new Nevada economy” said Governor Sandoval. “As I’ve said before, the Nevada I know is just getting started. There is more to be done and we must work together to continue upon this shared success.”
In May 2007, Nevada hit record employment at 1,297,600 jobs. However, it was one of the hardest hit states, losing 186,400 jobs, bottoming out at 1.1 million jobs in September 2010, Anderson said. The two industries impacted the most were construction, which lost 80,000 jobs and leisure/hospitality, which lost 30,000 jobs.
“The state’s labor market has been consistently on the mend ever since the 2010 trough,” Anderson said. “In fact, jobs have grown every month in the Silver State since January 2011, measured on a year-over-year basis. That’s 68 consecutive months of growth. It is especially encouraging to note that employment growth since the recovery began has been relatively broad-based. While we are seeing solid contributions from the state’s historical drivers, leisure/hospitality and construction, job growth in a number of other industries during the recovery has been especially impressive since 2010.”
The trade/transportation/utilities sector has added 36,600 jobs; professional and business services has added 34,100; and health care added 25,000 jobs.
“Looked at another way, the Silver State has established a new record level of employment with approximately 70,000 fewer construction jobs than pre-recession ,”Anderson said. “The broad-based growth across nearly all industries will hopefully lead to a more stable economy going forward.”
Nevada Sen. Harry Reid released the following statement: “Today marks a remarkable milestone for Nevada’s economy. Thanks to President Obama’s leadership, Democratic policies in Congress, Governor Sandoval’s bipartisan governance and more than $6 billion invested in clean energy, Nevada has clawed back from one of the worst economic crises in modern history. A focus on middle class priorities is essential to boosting jobs and economic growth, and the Silver State is better off because of those efforts.
“Nevada needs to build on this progress by enhancing our role as a national clean energy leader and hotbed for innovation and expansion. It’s time we doubled down on our state’s vast renewable resources and effective private-public partnerships to create even more jobs and drive our economy even further. Clean energy is the future of Nevada’s economy, and we must embrace it if we want to expand prosperity to every corner of the state.”
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