Nevada forecasts massive job growth through 2017

Construction, consumer spending and tourism are driving this economy.

Sound familiar? It should: Those sectors formed the foundation of Nevada’s economy in 2007 — just before it skidded into its nation-leading downturn.

On Friday, a state agency said the building, retail and resort industries will again lead Nevada’s job growth, pushing the state back to its pre-recession job levels in a year or so.

But industry observers promise it will be different this time — today’s jobs base is already more diverse than it was a decade ago, and new industries will underpin some future gains.

“Essentially every private-sector industry but mining and, to some extent, financial services, is showing noticeable growth,” said Bill Anderson, chief economist of the state Employment, Training and Rehabilitation Department. “So the kind of job growth we’re seeing is much more sustainable than what we were seeing before, when so much of our growth came from two sectors.”

To understand just how Nevada will expand, start with Friday’s report.

The analysis, produced for the Economic Forum, said Nevada will add 45,000 jobs in 2015, 52,000 jobs in 2016 and 60,000 jobs in 2017. That 2017 expansion rate will be nearly twice today’s levels: Payrolls increased by 34,100 jobs year-over-year in March.

Nevada still has 87,000 fewer jobs than it had in 2007, but the state is expected to return to its pre-recession high of nearly 1.4 million by mid-2016, Anderson said.

Other local experts said the forecast sounds reasonable.

The employment department’s 2017 estimates are at the higher end of the 45,000- to 60,000-job range that economists with UNLV’s Center for Business and Economic Research foresee.

Still, the center forecasts “strong acceleration in growth because all of the indicators that drive the economy here just look really good,” director Steve Brown said.

Plus, the billions of dollars in planned development in Nevada in coming years point to ongoing economic growth, said Brian Gordon, a principal in local research firm Applied Analysis.

When it recovers to 2007 levels, though, the jobs base will look different.

Sure, construction is set to gain the most percentagewise, with major projects such as Tesla’s $5 billion Giga­factory outside Reno, plus Strip projects such as Genting Berhad’s $4 billion Resorts World Las Vegas, the $350 million MGM-AEG arena, and the Las Vegas Convention and Visitors Authority’s $2.3 billion Las Vegas Global Business District.

Construction will add 7,100 jobs statewide in 2015 and 8,700 jobs in 2016. In 2017, it will create 10,800 jobs, or 18 percent of the year’s 60,000 new positions.

Even then, the sector will have 53,000 fewer workers than pre-bust. That means growth is coming from somewhere else.

“The mix of industries has continued to shift. We’re a decade removed from the height of the economic boom, and the economy and the workforce have been forced to retool themselves,” Gordon said.

In fact, 18 of 20 big industries will add jobs through 2017, Anderson said. Especially notable will be gains in manufacturing, sourced largely to Tesla’s plant. Tesla officials say the factory will eventually employ 6,500. Anderson’s analysis said Nevada’s manufacturing sector will grow by 5,100 jobs through 2017.

Health care will bring on 13,000 positions as the population grows and ages. The retail and leisure and hospitality sectors will grow by 15,400 and 41,200 jobs, respectively.

The forecast is just that: a forecast. Outlooks could change if conditions change.

Possible negative factors include weakening economies in Europe and China, combined with a stronger dollar, both of which could hurt visitor volumes and spending, Brown said.

Uncertainty at home could also affect the economy.

“If people are uncertain about their economic future, they’re going to become more cautious,” Anderson said.

Nor are there any guarantees that the Tesla factory, which is a big part of forecasts, will perform as expected. The company has yet to produce an affordable, mass-market electric car. Its current models go for at least $70,000, and it said in April that it sold 10,000 cars worldwide in the first quarter — a fraction of the global total of 6.13 million sales, according to the German Association of the Automotive Industry.

Tesla, which is to receive $1.3 billion in tax breaks from the state, said this week it would also develop batteries for home storage of renewable energy. Brown called the submarket “speculative.”

Labor unions said in February that Tesla had stopped work on its 10 million-square-foot factory. Company officials denied the reports and said construction was ahead of schedule.

Some equities firms have gotten nervous enough about the company, which lost nearly $300 million in 2014, that they’ve cut their positions in its stock: Susquehanna Financial Group of Boston sold more than half of its Tesla shares in January.

Contact reporter Jennifer Robison at jrobison@reviewjournal .com or 702-380-4512. Finder her on Twitter: @J_Robison1

ad-high_impact_4
News
9 Dead and at Least 16 Injured as Van Hits Pedestrians in Toronto
9 Dead and at Least 16 Injured as Van Hits Pedestrians in Toronto The driver of the van is now in custody after climbing the curb and plowing through crowds of people. Witnesses describe a scene of chaos as the trail stretched about one mile before coming to a stop. Witness, via CTV Canada's Prime Minister, Justin Trudeau, made initial statements after learning of the incident. Prime Minister Justin Trudeau
Dwayne 'The Rock' Johnson Welcomes New Baby Girl!
Dwayne “The Rock” Johnson Welcomes New Baby Girl! The 45-year-old actor posted an adorable photo on Instagram, celebrating his newborn baby girl, Tiana Gia Johnson. Dwayne Johnson, via Instagram Dwayne Johnson, via Instagram Dwayne Johnson, via Instagram This is Johnson’s second daughter with his girlfriend, Lauren Hashian. His oldest daughter, Simone Garcia Johnson, came from his previous marriage. Johnson and Hashian first announced they were expecting another child back in January. Congratulations!!
High School Senior Wins Writing Scholarship
Kye "Kai" Catarata was presented with a $1,000 scholarship at the Las Vegas Writer's Conference Saturday at the Tuscany Suites and Casino.
It's a Boy! Duchess of Cambridge Gives Birth to Third Child
It's a Boy! Duchess of Cambridge Gives Birth to Third Child Kensington Palace announced that Prince William and Princess Kate traveled by car to the private Lindo Wing of St. Mary's Hospital in central London Monday. The child was born at 11:01 a.m. local time, weighing 8lbs 7oz. Her Royal Highness and her child are both doing well. Kensington Palace The new addition will be fifth in line to the throne, Queen Elizabeth II's sixth great-grandchild and third grandchild of Charles, Prince of Wales. Catherine and Harry married in 2011 and have two other children, Prince George, 4, and Princess Charlotte, who turns 3 next month.
Dr. Abbatangelo: Professor, Pageant Queen and Animal Dentist
Dr. Tina M. Abbatangelo, a professor of clinical practice at UNLV dentist school spends her free time and money traveling across the country to help treat exotic animals.
Joseph Otting, U.S. comptroller of the currency during an interview with RJ
Joseph Otting, U.S. comptroller of the currency during an interview with the Las Vegas Review-Journal. Otting oversees all national banks, credit unions, mutual savings banks, coops and the federal branches and agencies of foreign banks in the United States. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Paris Wade discusses about his “Liberty Writers” website
Paris Wade, who made national headlines for operating a fake news website and boasts about getting President Donald Trump elected in 2016, speaks during an interview with the Las Vegas Review-Journal on Friday, April 20, 2018, in Las Vegas. Wade is running for Nevada Assembly. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Police Unity Tour from New Jersey to Washington D.C. to commemorate fallen officers.
Las Vegas Metro police and Henderson police officers ride their bikes during the Vegas Team's last practice rides in preparation for the Police Unity Tour from New Jersey to Washington D.C. to commemorate fallen officers. Bizuayehu Tesfaye/Las Vegas Review Journal @bizutesfaye
UNLV students walk out of class on national walkout day
UNLV students and supporters chanted, marched and rallied on national walkout day Friday, April 20 on the 19th anniversary of the 1999 Columbine High School shooting in Colorado. K.M. Cannon/Las Vegas Review-Journal
Captain Sasha Larkin Discusses Challenges, Progress in North West
Captain Sasha Larkin, of Metro's Northwest Area Command, discusses what issues face the northwest valley's residents and what police are doing to address them.
Southwest giving passengers on deadly flight $5,000 for compensation
Passengers on Flight 1380 have been receiving checks as a gesture of goodwill from the airline.
Ellis Island Buys Mt. Charleston Lodge
Ellis Island, which operates a casino, brewery and hotel just off the Strip, purchased the Mt. Charleston Lodge in early April.
LVMPD Arrests Suspect in Sunset Park Shooting
Captain Robert Plummer held a press conference at LVMPD headquarters Thursday to provide updates on the arrest of Anthony J. Wrobel, accused of killing a Venetian executive and wounding one other in a shooting on Sunday.
Two Black Men Arrested at Starbucks Share Their Story
Two Black Men Arrested at Starbucks Share Their Story Rashon Nelson and Donte Robinson sat down with ABC’s ‘Good Morning America’ on Thursday and said the Starbucks manager called the police two minutes after they arrived. Donte Robinson, to 'Good Morning America' Donte Robinson, to 'Good Morning America' The men were meeting with a friend for a business meeting at the store’s location at around 3:45 pm on April 12 and declined to make any purchases. Starbucks CEO Kevin Johnson issued a public apology and vowed to fix the issue by closing 8,000 stores nationwide next month for training on unconscious bias. Both Nelson and Robinson were released without charges after spending hours in jail, and the manager is no longer with the company.
Hero Southwest Pilot Was One of the Navy’s First Female Fighter Pilots
Hero Southwest Pilot Was One of the Navy’s First Female Fighter Pilots Tammie Jo Shults is being called a hero after safely landing the crippled Southwest Flight 1380 in Philadelphia. According to a spokesperson, Shults began her Navy career in 1985 and was one of the first female pilots to “transition to tactical aircraft.” She served for another eight years before moving to the Naval Reserve, retiring completely in 2001 with the rank of Lt. Commander. The Southwest flight, which was headed for Dallas from New York, was forced to make an emergency landing after one of its engines blew. One passenger was killed in the explosion when shrapnel flew through a window. Seven others suffered minor injuries aboard the flight, which carried 149 people. Passenger Peggy Phillips, to NBC News Passenger Peggy Phillips, to NBC News
Bump stock manufacturers under fire
The Justice Department said last month that it had started the process to amend federal firearms regulations to clarify that federal law defines bump stocks as machine guns.
Artist, Community Paint Winchester Skate Park
Andrew Schoultz, a Los Angeles-based artist with an upcoming exhibit at UNLV's Barrick Museum, painted the skate park at Winchester Cultural Center on Tuesday.
Prince death investigation coming to an end
Prosecutors in Minnesota plan an announcement Thursday on the two-year investigation into Prince's death from a drug overdose Prince was 57 when he was found alone and unresponsive in an elevator at his Paisley Park estate on April 21, 2016. An autopsy found he died of an accidental overdose of fentanyl. Search warrants unsealed about a year after Prince died showed that authorities searched his home, cellphone records of associates and his email accounts to try to determine how he got the drug. The county attorney has scheduled a morning announcement at which time charges could be filed.
David Copperfield executive producer testifies during the magician's civil trial
A British tourist is suing illusionist David Copperfield saying he was injured during a trick. Chris Kenner, executive producer for illusionist David Copperfield, was on the witness stand all day Tuesday, April 17. Kenner testified that a business manager for the show talked to the man after he fell. Kenner testified that the tourist, Gavin Cox, said he was OK moments after the fall. Cox later told the crew: “Maybe I will have this looked at.” Copperfield is the next witness in line for Cox’s attorneys. K.M. Cannon/Las Vegas Review-Journal
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
CCSD Teacher Is a Living Organ Donor
June Monroe speaks about her kidney donation to her brother and advocacy work with the National Kidney Foundation.
Shadow Ridge High School teachers protest
Shadow Ridge High School teachers protest. Teachers are upset over many things, including the fact that the district is fighting an arbitration ruling for pay raises. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Clark County commissioners debate getting rid of Henderson, North Las Vegas constables
Clark County commissioners are debating whether to get rid of the Henderson and North Las Vegas constables after RJ's story pointing out questionable spending by the Henderson Constable Earl Mitchell. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
1 Dead, 7 Injured After Southwest Airlines Flight Makes Emergency Landing
1 Dead, 7 Injured After Southwest Airlines Flight Makes Emergency Landing Dallas-bound Southwest Airlines Flight 1380 out of New York, which had 143 passengers and a crew of five onboard, landed in Philadelphia on Tuesday. According to NBC10, a female passenger was partially sucked out of a broken window, which was a result of the plane's engine ripping apart. It's not known if the female passenger was the one who died. Emergency personnel met the battered plane upon its landing. According to the Federal Aviation Administration, the blown engine resulted in a smashed window and a damaged fuselage. Southwest Airlines The FAA said that the NTSB will lead the investigation into what happened.
Single vehicle crash kills man
A man died Tuesday morning in a single-vehicle crash in northeast Las Vegas. The crash occurred Tuesday morning on the 1900 block of Pasadena Boulevard, near Lake Mead Boulevard and Mt. Hood Street. Police had few details, but Metro's fatal detail was on the scene investigating.
Sunset Park Homicide (update 2)
LVMPD gives update about suspect in homicide at Sunset Park (Blake Apgar)
Sunset Park Homicide (update)
Update from LVMPD on Sunset Park homicide. Releasing suspect's name (Blake Apgar)
Sunset Park Homicide
Police give details about Sunset Park homicide on Sunday, April 15, 2018. (Blake Apgar)
Parents of autistic child talk about their experience waiting for care
Parents of autistic child talk about their experience waiting for care. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Donald Trump Calls Out James Comey After Book Details Emerge
Donald Trump Calls Out James Comey After Book Details Emerge The President took to Twitter to criticize the former FBI director as information emerges from Comey’s new book, ‘A Higher Loyalty’. According to 'The New York Times', Comey describes Trump in the book as “unethical, and untethered to truth and institutional values.” James Comey, A Higher Loyalty, via The New York Times A Higher Loyalty hits stores on April 17.
Local
Lip Smacking Foodie Tours takes you where the locals go
Donald Contursi talks about Lip Smacking Foodie Tours, which offers walking tours of restaurants on and off Las Vegas Boulevard with food samples and tidbits of history about the places they visit.
Bump stock manufacturers under fire
The Justice Department said last month that it had started the process to amend federal firearms regulations to clarify that federal law defines bump stocks as machine guns.
Art Bell’s Top 10 Shows
A selection of radio host Art Bell’s most popular shows.
Longtime Las Vegas attorney John Momot dies at age 74
Criminal defense attorney John Momot, who represented mob figures and even played himself in the movie “Casino,” has died.
David Copperfield in court after man injured during magic trick
The attorney for a British man who is suing illusionist David Copperfield said his client suffered serious injuries after being called on stage during Copperfield's show at MGM Grand.
5 things connecting Las Vegas and Marilyn Monroe
1. Marilyn Monroe, known then as Norma Jeane, obtained her first divorce in Las Vegas at the age of 20 on September 13, 1946. 2. According to some biographers, Monroe lived at 604 S. 3rd Street for four months during the summer of 1946. The house has since been torn down and is now the site of a parking lot. 3. In 1954, Monroe almost married Joe DiMaggio in Las Vegas but the wedding was called off last minute. The wedding was to be held at the Hotel El Rancho Vegas which was located on the southwest corner of Sahara Avenue and Las Vegas Boulevard. 4. Las Vegas has at least one road dedicated to the star. Marilyn Monroe Avenue is located in east Las Vegas and intersects with Betty Davis Street and Cary Grant Court. 5. There are currently more than 20 Marilyn Monroe impersonators for hire in the Las Vegas Valley.
Sir Richard Branson announces purchase of Hard Rock Hotel
Sir Richard Branson, founder of the Virgin Group, has acquired the Hard Rock Hotel with partners and plans to turn it into a Virgin-branded property by the end of 2019.
3 Centennial High School students killed in Calif. crash (Full)
Three Centennial High School students were killed Thursday morning in Southern California when their vehicle was struck by a suspected drunken driver while they were enjoying their spring break, according to a family member of one of the victims.
Retail Restroom Sexual Assault Suspect
Las Vegas police are asking for help finding a man they said groped a woman in a south Las Vegas Valley restroom. (Las Vegas Metropolitan Police Department)
Calvary Christian Learning Academy, “There was no fair warning.”
Samantha O’Brien, whose three-year-old daughter attended the Calvary Christian Learning Academy daycare, found out Monday night when her daughter’s teacher called about the school closing.
Mojave Max at Springs Preserve
File footage of Mojave Max at Springs Preserve. (Springs Preserve)
Companies bet their futures on cryptocurrency
Two Las Vegas entrepreneurs talk about finding their niche in blockchain enabled technologies and digital currency.
Solar panels reduce energy bill for CCSD
Wilbur and Theresa Faiss Middle School is one of 42 CCSD schools with solar panel installations, saving approximately $514,000 per year in energy costs.
Red carpet at MGM for Dan Reynolds Believer screening
Kats on the red carpet for the VIP screening of "Believer," the documentary by Imagine Dragons frontman Dan Reynolds about how the Mormon Church treats its LGBTQ members.
Driver dies in single-vehicle crash
One person is dead after an early Wednesday morning crash in the northwest valley. The single-vehicle crash was called in about 1:35 a.m. on Jones Boulevard just north of Deer Springs Way, according to Metropolitan Police Department Sgt. Robert Stauffer. The driver, who was the only person inside the vehicle, died at the scene.
Uber Health to Improve Patient Ride-Hailing Services
Uber Health to Improve Patient Ride-Hailing Services On Thursday, Uber launched its Uber Health platform for healthcare providers. Medical facilities, rehab centers, clinics and hospitals can book rides for patients from a centralized dashboard – no app required. According to Techcrunch, Uber Health general manager Chris Weber noted some 3.6 million Americans miss appointments due to lack access to reliable transportation. Uber’s endeavors into health care trace back to 2014, when Uber first offered on-demand flu shots in large markets across the U.S. Since then there have been similar efforts throughout the world, from diabetes and thyroid testing in India, to subsidized rides for breast cancer screening in the U.S., to many more. Last summer, over 100 healthcare organizations joined the platform during a private beta. (Las Vegas Review-Journal)
Las Vegas firefighters put out blaze along Bonanza Road
Las Vegas firefighters put out a blaze that burned for about 15 minutes Feb. 20, 2018, along Bonanza Road, across from the Las Vegas Review-Journal. (Jeff Mosier/Las Vegas Review-Journal)
Cabana Market Shooting -- Persons of Interest
On February 3, 2018 at approximately 1:57 p.m., patrol officers were dispatched to a parking lot located in the 3900 block of East Owens Avenue to investigate a report that a man had been shot. Responding officers located an unresponsive adult male suffering from a gunshot wound. The victim was pronounced deceased at the scene. (Las Vegas Metropolitan Police Department)
TOP NEWS
News Headlines
Events
Home Front Page Footer Listing
Circular
You May Like

You May Like