Carson City adds 200 jobs in November, job growth strong in Reno and Vegas
Submitted by Jeff Munson on Tue, 12/25/2018 - 12:19pm
Carson City beat seasonal expectations by adding 200 jobs in November, according to the latest figures from the Nevada Department of Employment, Training and Rehabilitation.
The statewide November 2018 economic report notes metropolitan statistical areas such as Reno and Las Vegas also saw a nice employment bounce for the month, with Vegas adding 1,900 jobs and Reno, 1,200.
Carson City was expected to shed 200 jobs, but instead remained stable, netting out 200 jobs over the month, and is now up 500 jobs over the year, marking a 1.6 percent rate of growth. As for unemployment, the capital city stands at 4.1 percent, down half a percentage point from a year ago.
November’s report shows ongoing positive job growth statewide and its influence on the Silver State’s counties and metro areas. Labor market expansion persists in Reno and Las Vegas as job levels continue to increase and unemployment decreases. All 17 counties realized a decline in unemployment rates, with 8 counties having an unemployment rate lower than the national average this month.
“Nevada’s economic expansion remains strong as indicated by both statewide and more regional data," said David Schmidt, Chief Economist, for Nevada’s Department of Employment, Training and Rehabilitation. The latest "statewide numbers highlighted the strong employment growth we have seen across the state in the last year."
Schmidt said data shows these gains are widely distributed across the state, with many of counties and metro areas contributing to this growth. Job numbers trended upward in the largest metropolitan statistical areas with both Las Vegas and Reno having faster job growth over the year than the state. Overall, Nevada shows an expanding, tightening labor market.
Additional November 2018 Economic Report Highlights:
— Storey County saw nearly 60 percent job growth from the second quarter of 2017 equating in approximately 6,300 new jobs for a total of 16,800. The majority of these new jobs are in the manufacturing sector.
— Job Growth in October (Seasonally-Adjusted): Reno added 1,200 jobs over the month and 13,300 over the year (5.7 percent) while Las Vegas is up 1,900 jobs over the month and is up 38,900 over the year (3.9 percent).
Unemployment:
— Reno: 3.3 percent; unchanged from October; down 0.4 percentage from this time last year. Las Vegas: 4.4 percent; remained the same from October, and down half a percentage point from a year ago.
— Unemployment rates remain below four percent in 11 counties.
— Unemployment rates declined on an over-the-year basis in all counties.
— Eureka, at 2.4 percent, holds the State’s lowest unemployment rate.
— Reno (5.7 percent) and Las Vegas (3.9 percent) both have employment growth rates higher than the state.
Nevada wages averaged $930 per week in the second quarter of 2018. This is a 3.3 percent increase relative to the same period in 2017. Weekly wages range from $717 in Lincoln to $1815 in Eureka.
Six counties have payrolls above $1,000 per week, and is attributed to the high concentration of mining or logistics and manufacturing present.
The insured unemployment rate is trending lower than ever before at 1.3 percent, down 0.25 percentage points from a year ago. The Las Vegas MSA was at 1.5 percent, Washoe at 0.9 percent, and Carson City saw a slight increase to 1.1 percent all over the same period.
