Las Vegas, Reno show modest gains in jobs

Nevada added back 3,600 jobs since September, according to the Department of Employment, Training and Rehabilitation’s October 2020 economic report.

When compared to October 2019, jobs are still down by 117,200 (-8.2%) for a current total of 1,305,300. Nevada’s seasonally adjusted unemployment rate was 12% in October 2020 compared to 3.7% in October 2019. Area total estimates are seasonally adjusted to account for regularly seen economic trends, but estimates discussing sector employment and sub-state unemployment rates are not adjusted for seasonality.

The Las Vegas Metropolitan Statistical Area increased by 8,100 jobs (0.9%) since September, with the leisure and hospitality sector growing the most by 6,300 jobs (2.8%). Compared to October 2019, total employment saw a decrease of 111,600 jobs (-10.7%) with leisure and hospitality sector down the most by 60,200 jobs (-20.5%) despite the over-the-month gains. The unemployment rate for the area was 13.8% and is still the highest in the state.

The Reno MSA had an increase of 200 jobs (0.1%) since September with the professional and business services sector growing the most by 1,400 jobs (4.5%). Compared to October 2019, total employment saw a decrease of 15,000 jobs (-6.0%) with leisure and hospitality sector down the most by 6,200 jobs (-15.9%). The unemployment rate in Reno is 6.3% compared to 2.8 percent last year.

The Carson City MSA experienced a decrease of 300 jobs (-1.0%) since September with the trade, transportation, and utilities sector growing the most by 100 jobs (2.5%). Compared to October 2019, total employment saw a decrease of 1,200 jobs (-3.9%) with professional and business services sector down the most by 200 jobs (-9.1%). The Carson MSA had an unemployment rate of 6.6% in October 2020.

“As has been the case for the duration of the COVID recession, the Las Vegas area continues to see the most significant impacts in terms of both employment and unemployment,” DETR chief economist David Schmidt said. “Statewide, employment was mixed with the Las Vegas MSA up, the Reno MSA flat and the Carson City MSA down over the month.

“Nevada, at 12%, has the second highest unemployment rate in the nation behind Hawaii. The rate of unemployment in the Las Vegas MSA, 13.8%, is more than double that in Reno and Carson City, 6.3 and 6.6%, respectively. Although the labor market continues to improve, Nevada remains one of the states most impacted by the COVID pandemic. Our economic outlook depends on our response to COVID-19 including treatments, policy responses and public compliance with measures to slow the spread of the disease.”