Las Vegas and Carson City saw a decline in the unemployment rate in October, while Reno’s rate held steady at 4.5 percent, state officials said Wednesday.
Las Vegas’ and Carson City’s rates registered at 5.5 percent for the month.
“While Las Vegas and Reno experienced slight job losses, all barometers of the Silver State’s economic health still point to continuing improvement,” Bill Anderson, chief economist with the Research and Analysis Bureau of Nevada’s Department of Employment, Training and Rehabilitation, said in a statement Wednesday.
“Additionally, as we head into the holiday season, job seekers can look forward to a rise in employment statewide,” Anderson said.
Las Vegas experienced a seasonally adjusted loss of 2,600 jobs in October but gained 16,400 jobs over the year. Reno/Sparks lost 400 jobs over the month, but gained 7,300 jobs relative to October 2015. Year over year, 28,800 jobs were added statewide.
Despite a slight uptick in new jobs statewide, Nevada’s largest population centers saw declines in seasonally adjusted employment in October. The Las Vegas metro area gained 1,600 jobs over the month; however 4,200 jobs were expected due to seasonal movements. This deficit resulted in a seasonally adjusted loss of 2,600 jobs. In Reno/Sparks, 1,300 new jobs were expected but only 900 were realized, resulting in a seasonally adjusted decline of 400 jobs. In Carson City, job levels held steady, in line with seasonal expectations.
However, over-the-year job gains were positive in all three of the Silver State’s metro areas. Nevada as a whole gained 28,800 jobs since October 2015, a growth rate of 2.3 percent.
Las Vegas gained 16,400 jobs over the year, resulting in a growth rate of 1.8 percent. Specifically, goods-producing industries added 8,800 to payrolls while service providers added 3,900.
Reno/Sparks grew at 3.4 percent over the year, resulting in an increase of 7,300 jobs. Goods-producing industries there added 500 payrolls over the year, while service providers added 6,500. Finally, Carson City gained 200 jobs over the year with a loss of 100 goods-producing jobs and a gain of 300 service-providing jobs, a growth rate of 0.7 percent.
Finally, Carson City gained 200 jobs over the year with a loss of 100 goods-producing jobs and a gain of 300 service-providing jobs, a growth rate of 0.7 percent.
As the holiday season approaches, state officials see an uptick in retail/wholesale trade and transportation/warehousing activity is expected across Nevada’s two largest population centers. In the years prior to the recession, September-December increases in holiday-related seasonal jobs approached 8,000 in Las Vegas, and 2,000 in the Reno-Sparks metro area.
Holiday job gains in Las Vegas have also been averaging near pre-recessionary levels; however, increases in these industries for the area did not pick back up until 2013. Although gains dipped slightly in 2015, officials expect that this year’s seasonal hiring will be slightly more robust due to the strengthening economy.
Since 2011, holiday hiring has once again averaged close to 2,000 jobs in Reno.