October job growth in Nevada remains strong, Carson City in line with seasonal expectations
Submitted by Jeff Munson on Tue, 11/20/2018 - 9:48am
CARSON CITY — Las Vegas and Reno led the way in October job growth, allowing statewide jobs to increase by 3.4 percent, which correlates to 45,800 new jobs added since October 2017, according to figures released Tuesday by the state's Department of Employment, Training and Rehabilitation. Carson City remained unchanged from September but is up 600 jobs over the year.
The largest over the month job gain in the metropolitan statistical areas (MSAs) was realized in Las Vegas, at 3,100. Reno added 2,600 jobs over the month while Carson City remained in line with seasonal expectations.
Reno was the only MSA that added jobs at a faster rate than the State as a whole in October, according to DETR's latest 2018 economic report.
October’s report also illustrates that positive job growth statewide is continuing to influence the Silver State’s counties and is positively impacting nearly all of those areas’ unemployment rates. In the metro areas, labor market expansion is evident in Reno and Las Vegas as job levels continue to increase and unemployment decreases in those areas this month.
“Last week we reported October labor market results for the State as a whole, which continue to reflect an ongoing economic expansion in the State. Looking at conditions within the State, we find this growth and expansion is evident across nearly all of the State’s metro areas and counties," said David Schmidt, Chief Economist DETR. "Job levels continue to trend up and mark record highs in Reno and Las Vegas. The major population centers in the State saw faster job growth over the year than the U.S. as a whole."
He added that unemployment rates in the metro areas continue to dip lower over the month, and all but one county in the State experienced unemployment rate declines from the same time last year.
"All things considered, conditions reported within the State continue to point to a healthy labor market,” said Schmidt.
Additional October 2018 Economic Report Highlights:
Job Growth in October (Seasonally-Adjusted):
— Carson City remained unchanged from September but is up 600 jobs over the year (two percent).
— Las Vegas is up 3,100 jobs over the month and is up 33,800 over the year (3.4 percent).
— Reno added 2,600 jobs over the month and 10,200 over the year (4.3 percent)
Unemployment:
— Carson City: Four percent, down 0.3 percentage point from September, and down half a percentage point from a year ago.
— Las Vegas: 4.4 percent; down 0.3 percentage point from September, and down half a percentage point from a year ago.
— Reno: 3.3 percent; down 0.1 percentage point from September; down 0.4 percentage from this time last year.
— Unemployment rates remain below four percent in 12 counties.
— Unemployment rates declined on an over-the-year basis in 16 of 17 counties.
— Eureka, at 2.5 percent, hold the State’s lowest unemployment rate.
— Reno (4.3 percent), Las Vegas (3.4 percent), and Carson City (two percent) all have employment growth rates higher than the U.S. as a whole.
— The unemployment rate in nearly half (seven) of Nevada’s counties remain at or below the U.S. rate as a whole (3.5 percent, unadjusted).
— Females account for 48 percent of Nevada’s workforce, with males accounting for 52 percent according to data from the Census Bureau’s Longitudinal Employer-Household Dynamics Program
— Initial claims in Clark County declined by 8.9 percent, or almost 190 claims, and Washoe County’s declined by 16.9 percent, or almost 50 claims, from a year ago.
— Clark (+67,000) experienced the largest increase in ad volume over last year, totaling 187,300 ads year-to-date.
