Nevada labor force 2017 revisions show Carson City adding more jobs than previously recorded
Revision to Nevada's 2017 labor force have been made with Carson City seeing an upward revise of 1,000 jobs added, translating to an added average of 1,400 jobs for the year, according to figures released Tuesday by the state's Department of Employment, Training and Rehabilitation.
Nevada’s annual labor force revised numbers show little has changed since the initial 2017 figures were released. Nevada added 42,100 jobs last year, with a growth rate of 3.2 percent, according to the state's Department of Employment, Training and Rehabilitation.
The average unemployment rate for 2017 was five percent, down from 5.7 percent in 2016.
Nevada’s non-farm employment and labor force numbers are estimated each month using a combination of historical data and monthly surveys of businesses and individuals.
At the beginning of each calendar year, these estimates are revised, or “benchmarked,” using more complete information that has become available since the time of the initial estimates, said David Schmidt, chief economist for Nevada’s Department of Employment, Training and Rehabilitation.
“This year’s revisions are minimal, with total employment in the state 200 jobs higher than previously reported at the end of the year, “ Schmidt said, “Nevada’s average unemployment rate for 2017 was revised upward from 4.9 percent to five percent. Despite the slight uptick, the average rate for the year was still down from 5.7 percent in 2016.”
HIGHLIGHTS:
· Nevada’s total nonfarm employment averaged 1,341,000 in 2017, non-seasonally adjusted, 200 jobs more than initially reported.
· Post-benchmark, Statewide employment increased by an annual average of 42,100 in 2017. Previously reported gain was 40,900 jobs.
· Average annual employment estimates for Reno was revised upward by 4,600 jobs with a gain of 10,900 jobs.
· Las Vegas employment estimates for 2017 were revised down slightly, by 1,300 jobs. The area saw an average annual growth of 27,300 jobs from the previous year.
· The construction sector added the most jobs in 2017, both in nominal terms (+7,600) and in percentage growth (up ten percent). This is a slight downward revision from the pre-benchmark growth estimates of 9,100 construction jobs.
· Manufacturing estimates were revised upward by 2400 jobs (for a total growth of 4,100), adjusting the growth rate from 3.9 percent to 9.4 percent, the second-highest growth rate for the year.
· Prior to the benchmark, the Bureau reported the trade/transportation/utilities sector added 10,000 jobs. After the revision, the gain stands at 6,900, the second-largest nominal gain of the eleven supersectors.