Report: Reno gains most jobs in August, Carson City remains unchanged
Submitted by Jeff Munson on Tue, 09/25/2018 - 10:59am
CARSON CITY — The Reno area had the largest over the month job gain among the state's three metro areas in August, while Carson City remain unchanged, which is in line with season expectations, according to figures released Tuesday by the Nevada Department of Employment, Training and Rehabilitation.
Overall jobs increased by 3.3 percent in Nevada, which correlates to 44,800 new jobs added since August of last year. The largest over the month job gain in the metropolitan statistical areas (MSAs) was realized in Reno, at 700. Las Vegas saw a slight reduction in jobs over the month while Carson City remained unchanged.
DETR also notes that as of the first quarter of 2018, average weekly wages totaled $935 in Carson City, $956 in Washoe County, and $970 in Clark County.
Over the year, Reno was the only MSA that added jobs at a faster rate than the State as a whole in August, according to DETR's August 2018 economic report.
Additionally, August’s data shows that job growth was typical over the month in the MSAs but still strong over the year. Las Vegas and Reno accounted for the majority of year over year employment gains by adding over 32,300 jobs and 9,100 jobs, respectively.
“In August, Las Vegas saw a small decline in employment losing 500 jobs over the month, likely due to a statistical correction following July’s very large gain of 10,300 jobs. Despite the slight reduction in employment in Las Vegas and minor upticks in the Reno and Las Vegas unemployment rates over the month, metro area economic indicators continue to follow positive Statewide trends over the year.
Wages and employment have increased and unemployment rates have decreased since this same time last year in the Silver State’s MSA’s which reflects positive signs of growth and diversification in those areas,” said David Schmidt, chief economist, for Nevada’s Department of Employment, Training and Rehabilitation.
Additional August 2018 Economic Report Highlights:
Job Growth in August (Seasonally-Adjusted):
Carson City remained unchanged from July but is up 700 jobs over the year (2.3 percent).
— Las Vegas lost 500 jobs over the month but is up 32,300 over the year (3.3 percent).
— Reno added 700 jobs over the month and 9,100 over the year (3.9 percent), adding jobs at a faster rate that the State as a whole (3.3 percent).
Unemployment:
— Carson City: 4.3 percent, unchanged from July; down 0.2 percentage point from a year ago.
— Las Vegas: 4.9 percent; up 0.2 percentage point from July, and down 0.4 percentage point from a year ago.
— Reno: 3.7 percent, up 0.1 percentage point from July; down 0.3 percentage from this time last year.
Unemployment rates remain below five percent in 14 counties. Unemployment rates declined on an over-the-year basis in 12 of 17 counties. Lander, Elko, and Eureka, at 3.3 percent, hold the State’s lowest unemployment rate.
— Job growth ranged from -17 percent in Esmeralda County to 63 percent in Storey County in the first quarter of 2018 relative to the same period in 2017.
— In the first quarter of 2018, all three metro areas fell slightly below the Statewide employment increase of 3.1 percent relative to the same period in 2017.
— Clark County experienced the largest decline in initial claims for unemployment insurance (UI), using a 13-week moving average, decreasing by of 7.4 percent, or almost 170 claims.
— In August, the UI exhaustion rate in the State’s three largest counties was 34 percent in Clark County, 25.4 percent in Washoe, and 27 percent in Carson City.
— Year-to-date online job posting activity decreased in 12 of 17 counties in August.
— Clark (Plus-40,600) experienced the largest increase in ad volume over last year, totaling 140,800 ads year-to-date.
