Saturday, December 20, 2003
Copyright © Las Vegas Review-Journal
Nevada jobless figures sinking
Guinn: Numbers suggest economy 'vibrant' in state
By BRENDAN RILEY
THE ASSOCIATED PRESS
CARSON CITY -- The state's jobless rate slipped to 4.5 percent during November, as the number of out-of-work Nevadans dropped by about 5,400 from a year ago to 48,700 and total jobs in all industries topped 1.1 million.
"What we've seen is a (downward) trend since the start of the Iraq war, and the trend has been very strong," Jim Shabi, economist for the state Department of Employment, Training and Rehabilitation, said Friday. "Unemployment is down and job growth has accelerated."
The statewide unemployment rate has dropped a full percentage point from 5.5 percent in April, he said.
For the year through November, job growth in Nevada has averaged 2.2 percent, and in Las Vegas, 2.5 percent, Shabi said. From November 2002, job growth is 3.6 percent statewide and 4 percent in Las Vegas.
Nationally, employment is down 0.2 percent, contributing to the "jobless recovery" of the U.S. economy.
Gov. Kenny Guinn said the drop in the state's seasonally adjusted unemployment rate, from 5 percent a month earlier, and a rapid increase in job growth over the past several months "show that the state's economy is vibrant despite minimal growth in gaming industry employment."
Keith Schwer, director of the Center for Business and Economic Research at University of Nevada, Las Vegas, projected this week that employment in Southern Nevada would grow by 4 percent in 2004 to about 781,000 jobs. Personal income will grow 6.1 percent to $48.7 billion.
Although there were job gains in some hiring areas, statistics released by the state showed the casino-related leisure and hospitality industry had a month-to-month drop of about 1,800 employees.
Mining-natural resources hiring held steady, but Department of Employment, Training and Rehabilitation Chief Myla Florence said developing mining ventures near Battle Mountain and Ely should mean more jobs and an economic boost in those areas.
The state's November jobless rate compared with a national rate of 5.9 percent and a 6.4 percent rate in neighboring California.
In Las Vegas, the unadjusted jobless rate in November was 4.5 percent, down from 5 percent a month earlier.
Shabi said there's been a slight pickup in gaming employment, but the significant increase is in population-driven sectors such as health care, retail and construction. "It's all the people stuff," he said.
Construction accounts for nearly 10 percent of the jobs in Las Vegas, twice the national average, Shabi said.
Between January 2002 and September, construction grew by 23 percent and employment surged from 71,000 to 83,000, Schwer reported in his economic outlook.
Of the statewide total of jobless people, about 39,600 were in the Las Vegas area and other towns and cities in Clark County. Also included in the area are Nye County and Mohave County, Ariz.
In the Reno area, the unadjusted rate was 3.6 percent, down from 3.8 percent in October. The jobless total there was 7,100.
In the Carson City and Douglas-Lyon-Storey counties area, the unadjusted rate for November was 5.1 percent, down from 5.3 percent, with 3,090 jobless.
The Elko-Eureka counties area had a 4.3 percent rate in November, up from 4 percent a month earlier, with 900 jobless.
Statewide, hiring increases were reported by trade-transportation-utilities, up 3,500; professional and business services, up 1,100; education-health services, up 600; financial activities, up 500; and government, up 400. Manufacturing and information job sectors were both up 200. Construction dropped 700.
Review-Journal writer Hubble Smith contributed to this story.
