Nevada has added 51,900 jobs over the last year, the largest annual increase in over 12 years.
Data from the Department of Employment, Training and Rehabilitation’s November 2018 economic report found a job growth rate of 3.8 percent this year, comparable to rates before the recession and more than double the current U.S. growth rate of 1.7 percent.
Nevada added 5,200 jobs in November alone.
David Schmidt, chief economist for DETR, said this employment growth is found across a number of industries.
Professional and business services and construction each added more than 10,000 jobs over the year. Leisure and hospitality added 8,100, and manufacturing added 7,000 jobs.
“Wages are increasing at a pace slightly above the rate of inflation,” Schmidt said. “And while seasonal retail trade employment growth was weaker than normal, transportation and warehousing has increased significantly instead, contributing to solid holiday hiring trends so far.”
Average weekly wages in the state went up 3.3 percent over the year to $930 during the second quarter of 2018.
“Over the last eight years, the number of unemployed Nevadans has fallen dramatically, our industries have and continue to diversify, and average wages are rising,” said Gov. Brian Sandoval in a press release from DETR. “With 95 consecutive months of year-over-year job growth, we must continue the economic development and retention work we have invested in to ensure the Silver State is a great place to work and live for many generations to come.”