Las Vegas unemployment rate ranks 2nd highest in nation

Las Vegas’ jobless rate is shrinking but still is second highest in the nation among major cities.

An estimated 9.9 percent of the valley’s workforce was unemployed in January, second only to the Los Angeles area at 11.5 percent. L.A.’s jobless rate was highest among 51 metro areas with at least 1 million people, according to newly released figures from the U.S. Bureau of Labor Statistics.

Salt Lake City had the lowest unemployment rate among major metro areas at 3.5 percent.

The coronavirus outbreak sparked soaring job losses nationwide last year and kept people home and away from crowds for fear of getting infected, devastating the tourism industry, the bedrock of Las Vegas’ casino-heavy economy.

At one point, one out of every three people in the valley was out of work after the pandemic hit. Southern Nevada has since recouped many of the jobs it lost but still lags much of the country.

Las Vegas’ unemployment rate fell below double digits, albeit barely, for the first time in January since the pandemic shut off much of the economy a year ago.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.