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Nevada’s private sector employment growth surpasses 48 states
With year to date growth of 3.7 percent relative to 2013, Nevada’s private sector is growing faster than all other states except North Dakota, which has a growth rate of 4.4 percent and Colorado, which stands at 3.8 percent growth rate, said Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.
“When we consider the first six months of 2014, the latest available data, we see that Nevada is making its climb back to the top of the private sector employment ranking, Anderson said. “Nevada has gradually regained lost ground over the past two years. In 2011, the private sector grew at a rate of 1.2 percent, faster than 14 other states; and in 2012, the Silver State’s employment grew at a rate of 1.9 percent, faster than 24 other states. Nevada’s private sector growth in 2013 continued this trend, growing at 2.7 percent, which placed it above 38 other states.”
Prior to the economic downturn, Nevada led the country in private sector employment growth, with the highest growth rate in the country in 2004 and second highest growth rate in 2005 at 6.4 percent.
During the recession, Nevada was the most affected state in terms of private sector employment growth. Nevada’s employment growth was the lowest in the nation in 2009 at -10.1 percent and in 2010 at -2.8 percent.