Reno sees February job gains, down some in Carson City and Vegas
Submitted by Jeff Munson on Tue, 03/26/2019 - 2:49pm
CARSON CITY — The Silver State experienced the fastest rate of job growth in the nation at 3.5 percent from February 2018 to February of this year, according to a report released Tuesday by the state's Department of Employment, Training and Rehabilitation.
The Reno metropolitan statistical area added jobs at the rate of 5.9 percent during the same period, while Las Vegas and Carson City grew by 2.8 and 2.6 percent respectively. Statewide 48,400 new jobs were added since February of last year, according to the report.
All three MSAs had faster employment growth rates than the national rate of 1.7 percent. However, compared to last month, the only MSA to add jobs was the Reno MSA with an increase of 500 seasonally adjusted jobs. Both the Carson City and Las Vegas MSAs had seasonally adjusted declines of 200 jobs and 1,600 jobs respectively, the report states.
February's report also illustrated that unemployment was down on a month-over-month, and year-over-year basis within the Carson City MSA and Las Vegas MSA, with both areas experiencing year-over-year declines of a percentage point or more. Unemployment also saw decreases on a year-over-year basis in 14 of 17 counties.
On a month-over-month basis 15 of 17 counties saw decreases in unemployment with Esmerelda and Pershing showing increases.
“February’s sub-state report mirrors our statewide report. Unemployment rates in our metropolitan areas and many of the counties are down compared to both last month and last year," said David Schmidt, chief economist for DETR.
In addition, all three MSAs experienced job growth over the year which exceeded the national average of 1.7 percent. However, both Las Vegas and Carson City experienced seasonally-adjusted job losses over the month, with only the Reno MSA showing growth, said Schmidt.
"While this is likely a reflection of the very strong numbers in January, we will watch the employment numbers to look for signs of a persistent change in the trend. Overall, the labor market continues to be tight, with low unemployment and rapidly expanding job opportunities,” he said.
Job Growth in February (Seasonally-Adjusted):
— Carson City decrease 200 jobs over the month, and is up 800 jobs over the year (2.6 percent).
— Reno added 500 jobs over the month and 14,200 over the year (5.9 percent).
— Las Vegas is down 1,600 jobs over the month and is up 28,000 over the year (2.8 percent).
Unemployment:
— Carson City: 4.7 percent, down 0.3 percentage point from January, and down 1.2 percentage points from a year ago.
— Reno: 3.7 percent; down 0.3 percentage point from January; down 0.5 percentage from this time last year.
— Las Vegas: 4.2 percent; down 0.5 percentage point from January, and down one percentage point from a year ago.
Meanwhile, unemployment rates remain at or below the national rate of 4.1 percent in 8 counties, unadjusted. Unemployment rates declined on a year-over-year basis in 14 of 17 counties, and increased in Esmeralda, Pershing and Washoe counties.
— Eureka, at 2.4 percent, has the state’s lowest unemployment rate, and Lyon had the highest at 5.7 percent.
— Nevada had the largest over-the-year gain of 3.5 percent employment growth in the nation with Utah at 2.9 percent the next fastest.
— The Reno MSA at 5.9 percent, Carson City MSA at 2.6 percent, and Las Vegas MSA at 2.8 percent all have employment growth rates higher than the national growth rate of 1.7 percent.
— In the third quarter 2018, 12 of 17 counties experienced job growth with Storey County growing the fastest at 49 percent compared to the state at 3 percent.
— In the third quarter of 2018, Eureka County had the highest weekly wage of $1,763, and Douglas county had the highest growth rate of 7.6 percent over the same time the previous year.
— The demographic report showed that unemployment rates varied widely across groups with those who live below the poverty level, the 16-19-year-old group, and American Indian or Alaska Natives having high unemployment rates in ten or more counties within the Silver State.
— Clark county increased by 10,320 job ads over February the previous year, totaling 20,054 ads for the month.
