Employment in the Las Vegas area fell by 4,300 jobs, new report says

Las Vegas shed thousands of jobs last month amid an ongoing tourism slump, according to a new report, which found Nevada’s labor market is “largely stationary.”

Employment in the Las Vegas area fell by 4,300 jobs from July to August, a drop of 0.4 percent, the Nevada Department of Employment, Training and Rehabilitation reported Thursday, using seasonally adjusted data.

Statewide, employment levels are effectively unchanged from a year ago, the department found.

All told, the report shows “a labor market that is largely stationary,” David Schmidt, the department’s chief economist, said in a news release.

Nevada is by no means alone, as hiring has largely stalled around the country.

Nationwide, employment levels “changed little” in August, with a gain of just 22,000 jobs, and has shown little change overall since April, the U.S. Bureau of Labor Statistics recently reported.

With the bulk of the state’s population, the Las Vegas Valley relies heavily on outsiders traveling here to spend big eating, drinking, gambling, partying and going to shows and conventions to fuel the local economy.

But amid a series of financial headwinds — and as President Donald Trump’s trade wars spark widespread economic anxiety — fewer people are taking Vegas vacations this year.

There has also been growing frustration over resort fees, parking charges, food and drink costs, and other expenses that can give visitors sticker shock and make Las Vegas a pricey place to visit.

Casino operators and others have rolled out price breaks in recent months to boost business. But if someone feels less secure in their finances or future job prospects, not taking a trip to Vegas can be an easy way to save cash.

Around 22.6 million people visited Las Vegas this year through July, down 8 percent, or a drop of almost 2 million people, from the same seven-month stretch last year, according to the Las Vegas Convention and Visitors Authority.

Schmidt said Thursday that private-sector employment in Nevada fell by 6,000 jobs month-to-month, led by “statistically significant declines” in construction and the accommodation and food services sector.

However, he noted, there has not been a surge in new unemployment claims from workers in those industries.

Also, data on hours worked and hourly wages “continue to remain steady, pointing to an ongoing demand for workers,” he said.

Overall, Las Vegas’ jobless rate has been among the highest in the country for big metro areas.

As of July, the local unemployment rate — 6 percent — was tied for third-highest in the nation among the 50-plus metro areas with at least 1 million people, according to the Bureau of Labor Statistics.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342.