Unemployment rate continues slow, steady decline in Nevada

According to the Department of Employment, Training and Rehabilitation’s September 2020 economic report, Nevada added another 3,400 jobs since August. The state’s job rate has rebounded for the fifth month in a row.

The state is down 127,600 jobs (-9.0%) since September 2019. Nevada’s seasonally adjusted unemployment rate was 12.6% in September, down from 13.3% in August, but it is still up from 3.7% in September 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 unemployment rate in Nye County was 8.9% in September compared to August’s rate of 9.7% and 4.9% in September 2019.

The Las Vegas Metropolitan Statistical Area decreased by 1,400 jobs (-0.2%) since August; the professional and business services sector grew the most, up 3,400 jobs (2.6%).

Compared to September 2019, total employment saw a decrease of 129,700 jobs (-12.5%) with the leisure and hospitality sector down the most by 73,900 jobs (-25.1%). The Las Vegas MSA had an unemployment rate of 14.8 percent in September: in a labor force of 1,119,011 there were 165,647 unemployed individuals.

The Reno MSA had an increase of 100 jobs since August, with the trade, transportation and utilities sector growing the most by 1,600 jobs (3.2%).

Compared to September 2019 total employment saw a decrease of 13,100 jobs (-5.3%) with the leisure and hospitality sector down the most by 5,500 jobs (-13.8%). In the Reno MSA, the unemployment rate was 6.7 percent in September: in a labor force of 252,402 there were 16,833 unemployed individuals.

The Carson City MSA experienced an increase of 600 jobs (2.0%) since August, with the government sector growing the most by 500 jobs (5.3%).

Compared to September 2019, total employment saw a decrease of 400 jobs (-1.3%) with the professional and business services sector down the most by 300 jobs (-13.6%). The Carson MSA has an unemployment rate of 6.8 percent in September: 1,798 unemployed individuals in a labor force of 26,455.

“September saw Nevada adding back jobs for the fifth month in a row,” DETR chief economist David Schmidt said. “Additionally, many of the smaller regions in the state are seeing unemployment rates that are closer to a normal rate for the local economy, though still elevated from the pre-recession record lows. The Carson City area has added back enough jobs to be within 700 jobs of their pre-COVID employment levels.

“In September, mining employment in Nevada set a record high with 17,000 jobs, surpassing the 2012 high of 15,900. Despite this good news, the Las Vegas area remains at unemployment levels above what has ever previously been seen.”

In other parts of the state, unemployment in the Elko area dropped from 4.7% in August to 4.3% in September, in Fallon the rate fell from 5.3% to 4.7%, Lyon County’s rate dropped from 8% to 7.3%, the rate fell from 7.5% to 6.8% in Douglas County, and in the Winnemucca area unemployment dropped from 4.9% in August to 4.4% in September.