LAS VEGAS (KTNV) — Employment in Nevada added back 2,400 jobs over the month as the state continues to recover. Jobs remain below typical levels, down 153,500 jobs since February 2020, for an annual decline of 10.6% according to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) February 2021 economic report. The total employment level in the State is 1,289,300. The state’s unemployment rate in February is 8.3%, down from 8.5% in January and up 4.6 percentage points when compared to February 2020.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
· Las Vegas employment increased by 1,300 jobs (0.1%) since January, a decrease of 145,600 jobs (-13.8%) since February 2020.
· Reno employment had an increase of 3,300 jobs (1.4%) since January, a decrease of 6,700 jobs (-2.7%) since February 2020.
· Carson City employment had an increase of 600 jobs (2.0%) since January, a decrease of 600 jobs (-1.9%) since February 2020.
“For the state as a whole, employment increased over the month, resulting in ten consecutive months of employment growth. Accommodation and food services added back the most jobs over the month, with the unadjusted gains concentrated in food services, which rose by 2,700 compared to 400 in accommodation. Construction employment rose sharply as well, particularly in the Las Vegas area, which is not uncommon given that construction has added employment in February for the past nine years. Nevada’s unemployment rate declined slightly from January’s revised level, but remains above eight percent. Broadly, the trend in February remains largely flat, and is similar to what we saw in January, with ongoing significant disruption highly concentrated in the Las Vegas area. Recent news that vaccine eligibility is expanding to the general population is encouraging, as is news that a large trade show has received approval for an in-person convention in early June.” said David Schmidt, Chief Economist.
