Nevada projected to see job growth improvements through 2017
“This is the first forecast in which we are predicting that employment will surpass the peak levels achieved in 2007, set to occur in late 2016,” Anderson said in a news release.
Nevada lost about 175,000 jobs from peak to trough during the recession. In 2011, the Nevada economy created 6,800 jobs, a 0.6 percent increase. In 2012, employment grew 1.5 percent, or 17,100 jobs. Job gains have continued to accelerate into 2014, though 2014:IQ still stands nine percent (116,000 jobs) below the peak, he said. Expectations are that total covered employment will expand 3.1 percent, or by 36,000 jobs, in 2014. Job gains are predicted to be 41,000 in 2015, 44,000 in 2016, and 49,000 in 2017.
One particular area of note, is the construction industry, which was the hardest hit during the recession. “In 2014, we project adding 6,700 construction jobs, with an additional 7,700 jobs in 2015, 8,600 jobs in 2016 and 9,800 jobs in 2017,” Anderson said. “In 2017, construction jobs would still be 56,000 below the pre-recession peak. In 2014, we forecast 1,200 more jobs in the manufacturing sector, followed by 1,000 in 2015, 1,400 in 2016, and 2,800 in 2017, when the bulk of Tesla’s employment will be filled. We are projecting 4,000 additional retail trade jobs in 2014 and then adding 3,400 jobs in 2015, 3,800 jobs in 2016, and 4,300 jobs in 2017.”
See the full report from the Research and Analysis Bureau below.
nv_projections_2014_2017.pdf by Carson Now