Carson City unemployment lowest since October 2006
Unemployment in Carson City continued to decrease in May to 4.2 percent, down 0.7 from a year ago and the lowest it has been since October 2006, according to figures released Tuesday by the Nevada Department of Employment, Training and Rehabilitation.
Though job growth for the month was essentially flat over April figures, with around 100 jobs added, over the year, the capital city is up by 800 jobs, a growth rate of 2.7 percent, according to DETR figures.
Meanwhile, Reno added 100 jobs over the month and 8,400 over the year, a growth rate of 3.6 percent. Unemployment for may came in at 3.3 percent, down 0.8 percentage point from a year ago. Reno’s unemployment rate is lowest it has been since October of 2000.
The high point for the jobs report, is the Las Vegas metro area grew by 2,200 jobs over the month of May, pushing total employment in the Las Vegas Metro Service Area to more than 1 million jobs.
The new high exceeds the 1 million seasonally adjusted job mark according the Department of Employment, Training and Rehabilitation’s May 2018 economic report. The Las Vegas region has added over 200,000 jobs since September of 2010 when employment stood around 800,000.
“I am thrilled to see Las Vegas join 51 other cities across the country in having over 1 million jobs,” Gov. Brian Sandoval said. “As we continue to experience nation-leading private employment growth and decreasing unemployment rates statewide, we must remain on course, continue to seek out new opportunities and focus on the areas which still need improvement.”
The May economic report also includes data on wages in the Silver State and each of the 17 counties showing that wages for the majority of MSA’s were above the statewide average of $955 per week in May.
“This latest data shows ongoing job growth statewide, with the fastest growth in Reno while Las Vegas and Carson City added jobs at rates similar to the overall statewide rate.
Unemployment continues to show improvement, with the unemployment rate down in 15 of 17 counties and initial claims for unemployment benefits down in 10 of 17 counties over the year,” said David Schmidt, Chief Economist, for Nevada’s Department of Employment, Training & Rehabilitation.
May 2018 Economic Report Highlights:
Job Growth In May (Seasonally-Adjusted):
— Las Vegas gained 2,200 jobs over the month and 27,800 over the year (2.9 percent).
— Reno added 100 jobs over the month and 8,400 over the year (3.6 percent).
— Carson City was up 800 jobs over the year (2.7 percent).
Unemployment:
— Las Vegas: 4.4 percent; down 0.8 percentage point from a year ago
— Reno: 3.3 percent; down 0.8 percentage point from a year ago
— Carson City: 4.2 percent; down 0.7 percentage point from a year ago
— May unemployment rates remain below five percent in 16 counties
— The Las Vegas unemployment rate is lowest it’s been since March of 2007
— The Las Vegas metro area has surpassed the one million seasonally adjusted job mark.
— Total employment in the State increased 3.2 percent during the fourth quarter of 2017, relative to the same period in 2016; Reno and Las Vegas fell slightly below the statewide average.
— As of 2017, employment in firms with less than 100 employees accounted for 53 percent of total private sector employment in Nevada.
— Small business establishments account for more than half of total employment in 12 of 17 counties.
— Nevada wages averaged $955 per week, as of the fourth quarter of 2017.
— Six counties have payrolls above $1,000 per week.