Nevada s Unemployment Rate Drops to 10.8 Percent

Transcription

1 For Immediate Release December 21, 2012 Nevada s Unemployment Rate Drops to 10.8 Percent Nevada s unemployment rate for November fell to 10.8 percent, the lowest it has been in more than three years. Las Vegas s rate fell to 10.4 percent, while Reno dropped to 9.9 percent. Reno metro area s unemployment rate is the first single-digit November reading since 2008, down from 12.1 percent a year ago. The Las Vegas region registered a decline of 2.6 percentage points from In Carson City, the unemployment rate in November fell to 10.3 percent, down over two points from a year ago, and 0.4 point relative to October. This month s 10.8 percent unemployment rate is the lowest since March 2009 and private sector employment reached the one-million mark for the first time since March 2009, Governor Brian Sandoval said. While this is good news, there is much work to be done. In order to continue to grow our state s economy, we must continue to diversify, recruit new businesses to Nevada and help retrain workers still looking for employment. For the first 11 months of the year, the jobless rate has averaged 11.7 percent, down from 13.6 percent during the same period in 2011, said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation. The news on the jobs front in November is especially encouraging, Anderson said. Typically, job readings decline slightly, by 1,200, over the October-November period. This November, however, job readings actually increased by 8,000. The end result is a seasonally adjusted gain of 9,200, the most pronounced monthly increase since April In addition, monthly job growth equaled or exceeded November s gain just nine times since For the year, employment is up 8,600 relative to the first 11 months of last year. -##- More detailed information may be found in the attached Nevada Labor Market Overview and statistical data DETR s Research and Analysis Bureau. Data may be attributed to Chief Economist Bill Anderson. Visit us and Follow us on Twitter:

2 BRIAN SANDOVAL GOVERNOR RESEARCH AND ANALYSIS BUREAU FRANK R. WOODBECK DIRECTOR WILLIAM D. ANDERSON CHIEF ECONOMIST NEVADA LABOR MARKET OVERVIEW November 2012 When combined with a number of other barometers of the State s economic health (taxable sales, 16% gaming win, visitation, 14% employer growth, etc.), 12% November s labor market 10% fundamentals are fairly 8% encouraging, with notable 6% improvement on a number 4% of different fronts. Arguably, 2% November results overstate 0% the health of the job market. For instance, the jobless rate is estimated to have declined 0.7 percentage point from October, a trend that is certainly unsustainable going forward. Given the volatility evident in these estimates over time, we continue to urge caution in placing too much weight on one month s results. We are, however, quite comfortable in concluding that the State s labor markets continue to behave in a manner consistent with moderate improvement over time. With that said, November s unemployment rate, at a seasonally adjusted 10.8 percent, is the lowest reading since March For the first 11 months of the year, the jobless rate has averaged 11.7 percent, down from 13.6 percent during the same period in As we ve discussed previously, the Unemployment Rate: Nevada vs. the U.S. (seasonally adjusted) E. Third St. Carson City, Nevada (775) Fax (775) NV U.S. current estimates suggest that the labor force in the State is trending down. Specifically, these estimates suggest that the labor force has declined by 20,600 so far in 2012 relative to a year ago. Hypothetically, had the labor force held steady, thereby resulting in an increase in 2012 estimates of unemployment by the same 20,600, the unemployment rate so far this year would have averaged 13 percent. When originally reported, 2011 estimates also showed a significant decline in the labor force, even more pronounced than this year s. However, those original estimates were subsequently revised upward by about 70,000, leaving labor force levels essentially unchanged from It would not be surprising to

3 Lander Esmeralda Eureka Elko Humboldt White Pine Churchill Pershing Washoe Storey Nevada Carson City Clark Douglas Lincoln Mineral Nye Lyon County Unemployment Rates (year-to-date) 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% see similar revisions, at least in terms of scope, unfold this time around as well. While not directly comparable to the State information reported above, non-seasonally adjusted unemployment rates fell or held steady in all but two counties in November 1. More importantly, every county but one in the State recorded a year-over-year decline. Declines ranged from -0.3 percentage point in Lander to -3.1 points in Storey and Nye. Lyon County, at 13.6 percent, remains home to the highest rate, but it is down 2.5 points from Only Mineral County saw its unemployment rate increase over the year, from 11.1 percent to 12.5 percent As for the State s three largest population centers, at 9.9 percent, 1 Unemployment rates for the State s metropolitan areas and counties reported here are not adjusted for seasonality. Hence, comparisons to the State s seasonally adjusted rate should be avoided. Legitimate comparisons, however, can be made to the State s unadjusted rate 10.2 percent in November, down from 10.9 percent in October and 12.7 percent in November the Reno metro area s unemployment rate is the first single-digit November reading since It is down from 12.1 percent a year ago. The Las Vegas region registered a decline of 2.6 percentage points from 2011, as the jobless rate currently stands at 10.4 percent. In Carson City, the unemployment rate in November settled at 10.3 percent, down over two points from a year ago, and 0.4 point relative to October. The number of employers participating in the State s Unemployment Insurance Program is on the rise, based upon information available through the third quarter. Following three straight years of declines, the number of employers is up two percent so far this year. Year-over- year gains have been recorded in each of the past five quarters. The news on the jobs front in November is especially encouraging. Typically, job readings hold relatively steady over the October-November period, at least in total. (Specifically, we would expect a slight decline of about 1,200 jobs in November.) This November, however, job readings actually increased by 8,000. The end result is a seasonally adjusted gain of 9,200, the most pronounced monthly increase since April In addition, monthly job growth equaled or exceeded November s gain just nine times since For the year, employment is up 8,600 relative to the first 11 months of last

4 Nevada and Sub-State Nonfarm Jobs: Oct. - Nov. Change Expected Seasonally Unadjusted Seasonal Adjusted Change Movement Change Total Nonfarm Jobs 8,000-1,200 9,200 Private Sector 8,100-1,400 9,500 Public Sector Las Vegas 3,800 1,100 2,700 Reno 3, ,500 Carson City year. As noted in previous Overviews, we expect that the likely result of the annual benchmarking process to take place early in 2013 will be an upward revision in job estimates to the tune of at least a few thousand. Trends in the private sector remain encouraging, as job readings reached the one-million mark for the first time since March Estimated gains so far this year total 11,400 compared to a year ago, based upon the monthly survey of business establishments. Howeve r, we already know that the results of a complete count of employme nt through just the first half of the year, based upon information provided by employers through the Unemployment Insurance Progra m, jobs 25,000 20,000 15,000 10,000 5, ,000-10,000-15,000 Nevada Nonfarm Job Growth (seasonally adjusted; year-over-year) D J F M A M J J A S O N D J F M A M J J A S O N Jobs Pct. Change 3. shows that private sector employment was up 16,800, a discrepancy which should drive our monthly estimates upward, post-benchma rk. It is interesting to periodically go benea th the surface of the labor market and examine underlying churn. This month, we examine the impacts of business closings an d openings on employment lev els. Although somewhat outdated, wi th information available through this year s first quarter, the results are useful. Most importantly, after spiking during the recession, it a ppears that the number of job losses attributable to closing establishments has receded to pr e- recessionary levels and is hoveri ng at around 10,000 jobs per quarter, on average. On the flip side, job gains in opening establishments have yet to rebound off of recessionary lows. All told, in the four quarters ending in the January - March period, job gains from openings averaged 10,400 per quarter compared to a loss of 9, 700 jobs from establishment closin gs. This is consistent with othe r barometers which suggest that recessionary job losse s have, for the most part, ru n 0% their course, but we are y et to see a pronounced pickup in hiring activity. 2.0% 1.0% 0.0% -1.0% -2.0% percent change On a side note, it is als o interesting to assess th e wages of new hires vs. those of all workers. Available information suggests that average

5 Leisure and Hospitality Trade, Trans. and Utilities Professional and Business Services Construction Nevada Nonfarm Job Growth by Industry (year-to-date; year-over-year) -4,000-2, ,000 4,000 6,000 8,000 monthly earnings for new hires are about two-thirds of the overall average for the total workforce in Nevada. That relationship has been quite stable over time. Seasonal holiday-related hiring appears to be off to a good start based upon trends in October and November. In the most recent month, retail trade employment rose by 6,700 compared to the prior month before seasonal adjustment. This is on top of a (revised) gain of 2,100 registered in October. These trends compare quite favorably to recent history. As an aside, December typically accounts for about ten percent of total taxable sales, measured on a calendar-year basis, in Nevada. That share declined to close to eight percent during the recession, but has rebounded in the past two years to a more normal level. Unfortunately, these gains are coming off of historical lows, and still leave room for considerable improvement. November results in most industries are positive. Leisure/hospitality has been leading the way, over time, with a year-to-date gain of 6,100 jobs through the first 11 months of the year. In November, an estimated 2,300 jobs were added to payrolls compared to October (seasonally adjusted). Even the construction industry showed some positive results in November, in adding a seasonally adjusted 1,500 jobs to payrolls. Still, for the year, job readings are down 3,700 compared to the first 11 months of As we, and others, have discussed in the past, building activity is on the rise. For instance, after trending down for approximately five years, housing starts began to move in a positive direction earlier this year. In the 12 months ending in October, starts were up nearly 50 percent compared to the year ending in October An analysis of the structure of the Nevada s job market, as it pertains to worksite size, yields some interesting results. From an employment perspective, worksites with at least 1,000 workers represent the largest share of private sector employment, with 178,000 jobs. Those with workers have the second-highest share, with 157,000 employees. The smallest share of employment is at worksites with fewer than five employees, where there are nearly 60,000 workers. All told, though, worksites with fewer than 100 workers account for more than half of total private sector employment.

6 Looking at the landscape of Nevada s economy from a slightly different perspective, of the State s 71,000 worksites, more than 42,000 have fewer than five workers, the largest cohort. Worksites with fewer than 100 workers represent 98 percent of all worksites. There are just 75 worksites with more than 1,000 workers. Metro Area Nonfarm Job Growth (year-to-date; year-over-year) Nevada Las Vegas Reno Carson City -2, ,000 4,000 6,000 8,000 10,000 Within the State s three major population centers, only Carson City continues to see payrolls edge down. So far this year, about 800 jobs have been lost within the region. More than half (about 500) of those job losses are in the public sector. Elsewhere in Northern Nevada, Reno job readings have increased, relative to a year ago, in three consecutive months. November s 1.7 percent gain is the strongest since year-end In addition, the Washoe/Storey region added a seasonally adjusted 3,500 jobs to payrolls relative to October. This represents the largest monthly gain since January While Reno has picked up the pace of late, Las Vegas still accounts for the bulk of all new jobs. Specifically, Southern Nevada has added 5,600 jobs through this year s first 11 months. In the October Overview, we examined structural forces at play in the U.S. economy by assessing long-term job growth relative to overall economic growth, as measured by Gross Domestic Product. This month, we look at the same trends in Nevada, and we find very similar conclusions. Over the last 35 years, Nevada s economy, as measured by Gross State Product, has risen five-fold (400 percent). At the same time, job levels have increased just 265 percent. This suggests that workers have become more productive and incrementally fewer workers are needed to meet the needs of an expanding economy over time. All things considered, November brought good news in the State s labor market. However, as we noted earlier, it s perhaps best to be cautious in assessing overall conditions. One need only look at Unemployment Insurance claim activity to see some signs of moderation. For instance, initial claims trended down for 31 consecutive months through June of this year. Since then, claims activity has ticked up in three of the last five months.

7 Employment & Unemployment Estimates for November 2012 Unemployment Rates: Nevada Statewide 10.8% (Seasonally Adjusted) Las Vegas-Paradise MSA 10.4% Reno-Sparks MSA 9.9% Carson City MSA 10.3% Elko Micropolitan Area 5.3% United States 7.7% (Seasonally Adjusted) California (Oct) 10.1% (Seasonally Adjusted) Employment estimates are produced by the Current Employment Statistics program. Labor Force estimates are produced by the Local Area Unemployment Statistics program Research and Analysis Bureau, Nevada Department of Employment, Training and Rehabilitation operates these programs in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics. Telephone (775)

8 Nevada Labor Force and Unemployment (Estimates In Thousands) LABOR FORCE SUMMARY NOV 2012 NOV 2011 CHANGE % CHANGE OCT 2012 NEVADA STATEWIDE Seasonally Adjusted TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 10.8% 13.2% % TOTAL EMPLOYMENT 1/ % NEVADA STATEWIDE TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 10.2% 12.7% % TOTAL EMPLOYMENT 1/ % Las Vegas-Paradise MSA Includes Clark County TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 10.4% 13.0% % TOTAL EMPLOYMENT 1/ % Reno-Sparks MSA Carson City MSA Includes Washoe and Storey Counties TOTAL LABOR FORCE % UNEMPLOYMENT % 23.7 UNEMPLOYMENT RATE 9.9% 12.1% % TOTAL EMPLOYMENT 1/ % TOTAL LABOR FORCE % 27.6 UNEMPLOYMENT % 3.0 UNEMPLOYMENT RATE 10.3% 12.4% % TOTAL EMPLOYMENT 1/ % 24.6 Elko Micropolitan Area Includes Elko and Eureka Counties TOTAL LABOR FORCE % 32.4 UNEMPLOYMENT % 1.8 UNEMPLOYMENT RATE 5.3% 6.3% % TOTAL EMPLOYMENT 1/ % 30.6 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence. Information compiled by DETR's Research & Analysis Bureau

9 Seasonally Adjusted Establishment Based Industrial Employment Nevada Statewide (Estimates In Thousands) NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Natural Resources & Mining % 16.2 Construction % 47.8 Manufacturing % 37.1 Durable Goods % 23.4 Non-durable Goods % 13.7 Trade, Transportation & Utilities % Wholesale % 34.8 Retail % Transportation, Warehousing & Utilities % 52.9 Financial Activities % 51.5 Finance and Insurance % 29.7 Real Estate & Rental Leasing % 21.8 Professional & Business Services % Professional, Scientific and Technical % 49.0 Management of Companies % 18.1 Administrative & Support and Waste Mgt % 74.6 Education and Health Services % Educational Services % 10.1 Health Care and Social Assistance % 98.1 Leisure and Hospitality % Arts, Entertainment and Recreation % 27.2 Accommodation and Food Service % Other Services % 34.4 Government % Federal % 17.9 State % 36.5 Local % 94.1 Las Vegas-Paradise MSA NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Reno/Sparks MSA NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Carson City MSA NOV 2012 NOV 2011 CHANGE % CHANGE OCT % 27.6

10 Nevada Statewide (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Goods Producing % Natural Resources & Mining % 16.3 Metal Ore Mining % 12.3 Construction % 49.6 Specialty Trade Contractors % 34.2 Manufacturing % 37.3 Durable Goods % 23.5 Computer & Electronic Products % 10.4 Other Miscellaneous (Includes Slot Mfg.) % 6.7 Non-durable Goods % 13.8 Services Producing % Private Service Providing % Trade, Transportation & Utilities % Wholesale % 34.9 Retail % General Merchandise & Clothing % 48.3 Food & Beverage Stores % 20.3 Health and Personal Care Stores % 7.4 Transportation, Warehousing & Utilities % 53.5 Utilities % 4.3 Transportation & Warehousing % 49.2 Trucking, Couriers/Messengers, and % 20.9 Air % 6.1 Transit and Ground Passenger % 14.5 Taxi and Limousine Service % 10.1 Information % 12.6 Telecommunications % 4.3 Financial Activities % 51.7 Finance and Insurance % 29.8 Credit Intermediation & Related % 16.5 Real Estate & Rental Leasing % 21.9 Professional & Business Services % Professional, Scientific and Technical % 49.2 Management of Companies % 18.1 Administrative & Support and Waste Mgt % 76.1 Administrative & Support Services % 69.4 Employment Services % 18.0 Education and Health Services % Educational Services % 10.2 Health Care and Social Assistance % 98.0 Ambulatory Health Care Services % 44.2 Hospitals % 25.0 Leisure and Hospitality % Arts, Entertainment and Recreation % 27.0 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 10.9 Food Services and Drinking Places % Full-Service Restaurants % 50.7 Limited-Service Restaurants % 39.2 Other Services % 34.5 Government % Federal % 17.8 State % 37.8 Local % 95.0 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence. 2/ Data may not add due to rounding. Employment by place of work. Does not coincide with labor force concept. Includes multiple job holders.

11 Las Vegas-Paradise MSA Includes Clark County (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Goods Producing % 54.9 Natural Resources & Mining % 0.3 Construction % 34.6 Construction of Buildings % 4.9 Specialty Trade Contractors % 23.9 Building Foundation & Exterior Contractors % 4.3 Building Finishing Contractors % 6.2 Manufacturing % 20.0 Durable Goods % 11.7 Other Miscellaneous Manufacturing % 4.6 Non-durable Goods % 8.3 Services Producing % Private Service Providing % Trade, Transportion & Utilites % Wholesale % 22.2 Retail % 96.6 General Merchandise & Clothing % 37.1 Food & Beverage Stores % 14.6 Health and Personal Care Stores % 6.2 Trans, Warehousing & Utilities % 36.2 Utilities % 2.8 Transportation & Warehousing % 33.4 Air % 5.5 Transit and Ground Passenger % 12.7 Taxi and Limousine Service % 9.8 Information % 9.2 Telecomunications % 3.3 Financial Activites % 38.2 Finance and Insurance % 21.4 Credit Intermediation & Related % 12.3 Real Estate and Rental and Leasing % 16.8 Professional & Business Services % Professional, Scientific and Technical % 33.2 Management of Companies % 15.2 Administrative & Support and Waste Mgt % 54.2 Administative and Support Services % 51.3 Employment Services % 11.4 Other Support Services % 7.1 Education and Health Services % 76.1 Health Care and Social Assistance % 67.6 Ambulatory Health Care Services % 32.1 Hospitals % 16.3 Leisure and Hospitality % Arts, Entertainment and Recreation % 16.6 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 5.3 Food Services and Drinking Places % 82.1 Full-Service Restaurants % 42.5 Limited-Service Restaurants % 29.5 Other Services % 24.7 Government % 94.5 Federal % 12.2 State % 18.1 Local % 64.2 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence. 2/ Data may not add due to rounding. Employment by place of work. Does not coincide with labor force concept. Includes multiple job holders.

12 Reno-Sparks MSA Includes Washoe and Storey Counties (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT NOV 2012 NOV 2011 CHANGE % CHANGE OCT % Goods Producing % 19.9 Natural Resources & Mining % 0.4 Construction % 8.5 Manufacturing % 11.0 Miscellaneous Manufacturing % 2.6 Services Producing % Private Service Producing % Trade, Transportion & Utilites % 43.6 Wholesale % 9.0 Retail % 22.0 General Merchandise & Clothing % 7.1 Food & Beverage Stores % 3.3 Trans, Warehousing & Utilities % 12.6 Information % 2.2 Financial Activites % 8.7 Finance and Insurance % 5.5 Professional & Business Services % 24.4 Administrative & Support and Waste Mgt % 12.4 Education and Health Services % 22.5 Leisure and Hospitality % 36.4 Accommodation and Food Service % 29.2 Accommodation % 15.5 Casino Hotels % 14.5 Food Services and Drinking Places % 13.7 Other Services % 6.2 Government % 28.4 Federal % 3.5 State % 10.2 Local % 14.7 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence. 2/ Data may not add due to rounding. Employment by place of work. Does not coincide with labor force concept. Includes multiple job holders. Information compiled by DETR's Reseach & Analysis Bureau

13 Carson City MSA Includes Carson City (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT NOV 2012 NOV 2011 CHANGE % CHANGE OCT 2012 Goods Producing % % 2.8 Manufacturing % 2.3 Services Producing % 24.9 Private Service Producing % 15.0 Trade, Transportion & Utilites % 3.7 Retail % 2.8 Professional & Business Services % 2.0 Leisure and Hospitality % 3.3 Government % 9.9 Federal % 0.5 State % 7.5 Local % 1.9 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence. 2/ Data may not add due to rounding. Employment by place of work. Does not coincide with labor force concept. Includes multiple job holders. Information compiled by DETR's Reseach & Analysis Bureau

14 2012 Seasonally Adjusted Industrial Employment (Estimates In Thousands) Nevada Statewide Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Natural Resources & Mining State Manufacturing Durable Goods Non-durable Goods Trade, Transportation & Utilities Wholesale Retail Transportation, Warehousing & Utilities Financial Activities Finance and Insurance Real Estate & Rental Leasing Professional & Business Services Professional, Scientific and Technical Management of Companies Administrative & Support and Waste Mgt Education and Health Services Educational Services Health Care and Social Assistance Leisure and Hospitality Arts, Entertainment and Recreation Accommodation and Food Service Other Services Government Federal State Local Las Vegas MSA Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Reno/Sparks MSA Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Carson City MSA Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Dec-12 Detail may not add due to rounding. This report reflects non-ag employment by place of work. It does not necessarily coincide with labor force concept. Includes multiple jobholders. Information compiled by DETR's Reseach & Analysis Bureau

15 Nevada Statewide 2012 Industrial Employment Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Goods Producing Natural Resources & Mining Metal Ore Mining Construction Specialty Trade Contractors Manufacturing Durable Goods Computer & Electronic Products Other Miscellaneous (Includes Slot Mfg.) Non-durable Goods Services Producing Private Service Providing Trade, Transportation & Utilities Wholesale Retail General Merchandise & Clothing Food & Beverage Stores Health and Personal Care Stores Transportation, Warehousing & Utilities Utilities Transportation & Warehousing Trucking, Couriers/Messengers, and Warehousing/Storage Air Transit and Ground Passenger Taxi and Limousine Service Information Telecommunications Financial Activities Finance and Insurance Credit Intermediation & Related Real Estate & Rental Leasing Professional & Business Services Professional, Scientific and Technical Management of Companies Administrative & Support and Waste Mgt Administrative & Support Services Employment Services Education and Health Services Educational Services Health Care and Social Assistance Ambulatory Health Care Services Hospitals Leisure and Hospitality Arts, Entertainment and Recreation Accommodation and Food Service Accommodation Casino Hotels and Gaming Casino Hotels Gaming Industries Food Services and Drinking Places Full-Service Restaurants Limited-Service Restaurants Other Services Government Federal State Local Detail may not add due to rounding. This report reflects non-ag employment by place of work. It does not necessarily coincide with labor force concept. Includes multiple jobholders. Dec-12

16 Las Vegas-Paradise MSA 2012 Industrial Employment Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Goods Producing Natural Resources & Mining Construction Construction of Buildings Specialty Trade Contractors Building Foundation & Exterior Contractors Building Finishing Contractors Manufacturing Durable Goods Other Miscellaneous Manufacturing Non-durable Goods Services Producing Private Service Providing Trade, Transportion & Utilites Wholesale Retail General Merchandise & Clothing Food & Beverage Stores Health and Personal Care Stores Trans, Warehousing & Utilities Utilities Transportation & Warehousing Air Transit and Ground Passenger Taxi and Limousine Service Information Telecomunications Financial Activites Finance and Insurance Credit Intermediation & Related Real Estate and Rental and Leasing Professional & Business Services Professional, Scientific and Technical Management of Companies Administrative & Support and Waste Mgt Administative and Support Services Employment Services Other Support Services Education and Health Services Health Care and Social Assistance Ambulatory Health Care Services Hospitals Leisure and Hospitality Arts, Entertainment and Recreation Accommodation and Food Service Accommodation Casino Hotels and Gaming Casino Hotels Gaming Industries Food Services and Drinking Places Full-Service Restaurants Limited-Service Restaurants Other Services Government Federal State Local Detail may not add due to rounding. This report reflects non-ag employment by place of work. It does not necessarily coincide with labor force concept. Includes multiple jobholders. Dec-12

17 Reno-Sparks MSA 2012 Industrial Employment Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Goods Producing Natural Resources & Mining Construction Manufacturing Miscellaneous Manufacturing Services Producing Private Service Producing Trade, Transportion & Utilites Wholesale Retail General Merchandise & Clothing Food & Beverage Stores Trans, Warehousing & Utilities Information Financial Activites Finance and Insurance Professional & Business Services Administrative & Support and Waste Mgt Education and Health Services Leisure and Hospitality Accommodation and Food Service Accommodation Casino Hotels Food Services and Drinking Places Other Services Government Federal State Local Detail may not add due to rounding. This report reflects non-ag employment by place of work. It does not necessarily coincide with labor force concept. Includes multiple jobholders. Dec-12

18 Carson City MSA 2012 Industrial Employment Estimates in thousands JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVERAGE Goods Producing Manufacturing Services Producing Private Service Producing Trade, Transportion & Utilites Retail Professional & Business Services Leisure and Hospitality Government Federal State Local Detail may not add due to rounding. This report reflects non-ag employment by place of work. It does not necessarily coincide with labor force concept. Includes multiple jobholders. Dec-12 Information compiled by DETR's Reseach & Analysis Bureau

19 2012 NEVADA LABOR FORCE SUMMARY DATA Estimates In Thousands Revised December JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG NEVADA TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 12.9% 12.2% 11.9% 11.5% 11.6% 11.9% 12.5% 12.0% 11.2% 10.9% 10.2% 11.7% RATE-SEASONALLY ADJ. 12.7% 12.3% 12.0% 11.7% 11.6% 11.6% 12.0% 12.1% 11.8% 11.5% 10.8% 11.8% TOTAL EMPLOYMENT 1/ LAS VEGAS MSA 2/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 13.0% 12.2% 12.0% 11.6% 11.8% 12.2% 12.9% 12.3% 11.5% 11.1% 10.4% 11.9% TOTAL EMPLOYMENT 1/ RENO MSA 3/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 13.0% 12.2% 12.0% 11.4% 11.5% 11.7% 12.0% 11.5% 10.8% 10.6% 9.9% 11.5% TOTAL EMPLOYMENT 1/ CARSON CITY MSA 4/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 13.5% 12.6% 12.4% 11.8% 11.6% 11.7% 12.2% 11.5% 10.9% 10.7% 10.3% 11.7% TOTAL EMPLOYMENT 1/ ELKO MICROPOLITAN AREA 5/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 7.4% 6.6% 6.6% 6.3% 6.1% 6.3% 6.7% 6.0% 5.5% 5.4% 5.3% 6.2% TOTAL EMPLOYMENT 1/ Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence. 2/ Clark County 3/ Washoe and Storey Counties 4/ Carson City 5/ Elko and Eureka Counties

20 2012 NEVADA LABOR FORCE SUMMARY DATA Revised December JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG CARSON CITY TOTAL LABOR FORCE 27,850 28,040 27,950 27,660 27,860 28,090 28,080 28,000 27,560 27,550 27,190 27,800 UNEMPLOYMENT 3,750 3,550 3,460 3,270 3,240 3,290 3,420 3,220 3,020 2,960 2,800 3,270 UNEMPLOYMENT RATE 13.5% 12.6% 12.4% 11.8% 11.6% 11.7% 12.2% 11.5% 10.9% 10.7% 10.3% 11.7% TOTAL EMPLOYMENT 1/ 24,100 24,490 24,490 24,390 24,620 24,800 24,660 24,780 24,540 24,590 24,390 24,530 CHURCHILL COUNTY TOTAL LABOR FORCE 12,720 12,920 13,090 13,120 13,370 13,700 13,610 13,630 13,470 13,380 12,960 13,280 UNEMPLOYMENT 1,390 1,300 1,270 1,230 1,260 1,300 1,410 1,330 1,200 1,210 1,120 1,280 UNEMPLOYMENT RATE 10.9% 10.1% 9.7% 9.4% 9.4% 9.5% 10.4% 9.8% 8.9% 9.0% 8.7% 9.6% TOTAL EMPLOYMENT 1/ 11,330 11,620 11,820 11,890 12,110 12,400 12,200 12,300 12,270 12,170 11,840 12,000 CLARK COUNTY TOTAL LABOR FORCE 983, , , , , , , , , , , ,420 UNEMPLOYMENT 127, , , , , , , , , , , ,900 UNEMPLOYMENT RATE 13.0% 12.2% 12.0% 11.6% 11.8% 12.2% 12.9% 12.3% 11.5% 11.1% 10.4% 11.9% TOTAL EMPLOYMENT 1/ 855, , , , , , , , , , , ,520 DOUGLAS COUNTY TOTAL LABOR FORCE 21,370 21,500 21,510 21,340 21,790 22,260 22,310 22,110 21,650 21,360 20,720 21,630 UNEMPLOYMENT 3,160 2,970 2,890 2,710 2,790 2,760 2,830 2,660 2,480 2,450 2,320 2,730 UNEMPLOYMENT RATE 14.8% 13.8% 13.4% 12.7% 12.8% 12.4% 12.7% 12.0% 11.4% 11.5% 11.2% 12.6% TOTAL EMPLOYMENT 1/ 18,210 18,530 18,620 18,630 19,000 19,500 19,480 19,450 19,170 18,910 18,400 18,900 ELKO COUNTY TOTAL LABOR FORCE 28,630 29,150 29,440 29,540 30,590 31,480 31,380 31,950 31,300 31,190 30,420 30,460 UNEMPLOYMENT 2,140 1,940 1,960 1,860 1,850 1,970 2,090 1,910 1,730 1,700 1,620 1,890 UNEMPLOYMENT RATE 7.5% 6.7% 6.6% 6.3% 6.1% 6.3% 6.7% 6.0% 5.5% 5.4% 5.3% 6.2% TOTAL EMPLOYMENT 1/ 26,490 27,210 27,480 27,680 28,740 29,510 29,290 30,040 29,570 29,490 28,800 28,570 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.

21 2012 NEVADA LABOR FORCE SUMMARY DATA Revised December JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG ESMERALDA COUNTY TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 6.6% 6.2% 6.4% 6.4% 5.4% 5.8% 6.5% 5.3% 5.3% 4.7% 4.2% 5.7% TOTAL EMPLOYMENT EUREKA COUNTY TOTAL LABOR FORCE 1,060 1,080 1,090 1,090 1,140 1,180 1,170 1,200 1,170 1,160 1,120 1,130 UNEMPLOYMENT UNEMPLOYMENT RATE 6.5% 6.4% 6.0% 5.6% 6.1% 6.4% 7.1% 6.3% 5.9% 5.4% 4.6% 6.0% TOTAL EMPLOYMENT 990 1,010 1,020 1,030 1,070 1,100 1,090 1,120 1,100 1,100 1,070 1,060 HUMBOLDT COUNTY TOTAL LABOR FORCE 9,620 9,840 9,180 9,210 9,510 9,860 9,670 10,140 9,980 10,020 9,670 9,700 UNEMPLOYMENT UNEMPLOYMENT RATE 7.1% 6.5% 6.9% 6.3% 6.3% 6.5% 7.1% 6.3% 5.8% 5.7% 5.7% 6.4% TOTAL EMPLOYMENT 8,940 9,200 8,540 8,630 8,910 9,220 8,980 9,500 9,400 9,450 9,120 9,080 LANDER COUNTY TOTAL LABOR FORCE 4,400 4,450 4,350 4,340 4,600 4,780 4,730 4,780 4,710 4,690 4,570 4,590 UNEMPLOYMENT UNEMPLOYMENT RATE 6.6% 5.6% 5.8% 5.6% 5.2% 5.3% 5.7% 5.4% 5.3% 5.3% 5.4% 5.6% TOTAL EMPLOYMENT 4,110 4,200 4,100 4,100 4,360 4,520 4,460 4,520 4,460 4,440 4,320 4,330 LINCOLN COUNTY TOTAL LABOR FORCE 1,710 1,730 1,770 1,770 1,810 1,890 1,850 1,840 1,800 1,790 1,720 1,790 UNEMPLOYMENT UNEMPLOYMENT RATE 15.1% 14.0% 13.7% 13.1% 12.9% 12.8% 13.9% 12.6% 11.7% 11.6% 11.5% 13.0% TOTAL EMPLOYMENT 1,450 1,490 1,530 1,540 1,580 1,650 1,590 1,610 1,590 1,580 1,520 1,560 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.