1 / 19

Nevada Labor Market Briefing: September 2014

Department of Employment, Training & Rehabilitation Don Soderberg, Director Dennis Perea, Deputy Director Bill Anderson, Chief Economist Prepared by the Research and Analysis Bureau. Nevada Labor Market Briefing: September 2014. State Unemployment Rate. 7.3% Unemployment Rate (SA 1 )

Download Presentation

Nevada Labor Market Briefing: September 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Department of Employment, Training & Rehabilitation Don Soderberg, Director Dennis Perea, Deputy Director Bill Anderson, Chief Economist Prepared by the Research and Analysis Bureau Nevada Labor Market Briefing:September 2014

  2. State Unemployment Rate • 7.3% Unemployment Rate (SA1) • Down 0.3 percentage point from August; down from 9.6% a year ago • Off from a recession peak of 13.9% • The unemployment rate has declined or held steady, relative to the prior month, for 39 straight months • Lowest reading since July 2008 • Compares to a 5.9% rate for the U.S.—1.4 points higher • Lowest differential since mid-2008 1seasonally adjusted

  3. Unemployment Rate at 7.3%; Lowest Since July 2008NV vs. the U.S. Unemployment Rate (SA)

  4. Long-Term Unemployment Half of PeakNevadans Unemployed for 27+ Weeks (CPS data; 12-month moving average)

  5. Unemployment Rates Down in Every County Over RecoveryRatio of Sept. 2014 Rate to Sept. 2010

  6. FT Employment Rises; PT Holds SteadyFull-Time vs. Part-Time Employment (CPS data; 12-month moving average)

  7. State Employment (SA) • Non-Farm Job Levels Up 38,200 Relative to a Year Ago • 3.2% gain compares to 1.9% in the nation • 45 consecutive months of year-over-year gains • Down -1,800 Over the Month • 8,600 (NSA2) jobs were expected to be added based upon historical trends, but 6,800 were actually added, resulting in the seasonally adjusted decline • 2nd consecutive monthly decline…estimation model may be correcting for over-estimates during prior months 2not seasonally adjusted

  8. NV Adds 38,200 Jobs Relative to Year-Ago; Trending up for 45 monthsNonfarm Jobs in Nevada (SA)

  9. Job Growth Hovering in 3-4% Range the Past Year; Some Signs of EasingJob Growth (SA; year-over-year)

  10. NV on Pace to Add Close to 100K Jobs Since 2010Nevada Job Growth Since 2010

  11. Job Gains > Losses in 13 Straight Qtrs.Business Employment Dynamics: Private Sector Gross Job Gains vs. Gross Job Losses (SA)

  12. Opening Gains > Closing LossesBusiness Employment Dynamics: Gross Job Gains vs. Gross Losses in New & Closing Establishments (SA)

  13. Nearly All Sectors Contributing; PBS Leads the Way; Construction up 6,100YTD Job Growth by Sector

  14. Seasonal Holiday Hiring Could Approach Last Year’s 13,500September-December Growth in Trade/Transportation Jobs

  15. NV Jobs up 3.6% Through First 9 mos. This Year; Double Growth in the USJob Growth (year-over-year)

  16. Job Growth Stronger Than in 48 StatesQCEW Job Growth Rankings (# of states with slower private sector job growth than NV; 2014 YTD through IQ)

  17. Small Business Adding Employment Since 2010Employment in Establishments with less than 100 Workers

  18. Affordable Care Act: No Anecdotal Evidence that Businesses are ShrinkingBusinesses Crossing the 50-Employee Threshold (2013-2014)

  19. For Additional Information, Please Contact: Nevada Department of Employment, Training and Rehabilitation Research and Analysis Bureau Bill Anderson Chief Economist wdanderson@nvdetr.org (775) 684-0450 http://www.nevadaworkforce.com follow us on Twitter @nvlabormarket

More Related