Nevada Adds 1,800 Jobs in November for Another Record- High; Job Gains Registered Every Month Since January 2011

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1 NOVEMBER LABOR MARKET PRESS RELEASE December 20 th, 2017 Nevada Adds 1,800 Jobs in November for Another Record- High; Job Gains Registered Every Month Since January 2011 Statement from Governor Brian Sandoval: November brought with it further good news for Nevada s labor markets. Jobs are trending about 40,000 higher than a year ago, and double-digit unemployment rates are a thing of the past. I am most encouraged by the broad-based and diversified nature of our recent gains. As a result of our solid recovery, and six months ahead of schedule, Nevada has paid off $600 million in bond proceeds used to shore up the State s Unemployment Insurance Trust Fund, resulting in annual savings to Silver State employers of $180 million next year. Statement from Bill Anderson, Chief Economist, Department of Employment, Training & Rehabilitation: All things considered, the Silver State appears to be closing out 2017 on a high note. Job levels continue to set records on almost a monthly basis. In fact, results for the first half of the year show that private sector job growth in Nevada is the strongest in the nation. Holiday-related hiring appears on track to add several thousand positions to payrolls. On the unemployment front, the jobless rate remains at five percent in November. To put that in perspective, it topped out at nearly 14 percent during the recession. Sustained growth in the labor force, driven by increasing confidence in job prospects, continues to limit further declines in the jobless rate. Highlights: The Silver State had the fastest-growing private sector in the nation through the first six months of the year, adding 41,000 jobs versus the same period last year. Nevada s small business employment is at a new record high of almost 625,000 jobs in the second quarter of the year, up nearly 115,000 over the course of the recovery. The State s economy, as measured by GDP, has expanded in each of the past 16 quarters, exceeding the nation in six of the past nine quarters. Nevada added 1,800 jobs over the month in November, bringing total employment to 1.35 million The State has gained 35,100 jobs since November of last year, a growth of 2.7 percent, compared to 1.4 percent nationwide. The unemployment rate remained steady at five percent in November, down 0.2 percentage point from a year ago. The average duration of unemployment insurance benefits is down to nearly 13 weeks, after peaking at 19+ weeks at the height of the recession.

2 RESEARCH AND ANALYSIS BUREAU BRIAN SANDOVAL GOVERNOR DON SODERBERG DIRECTOR WILLIAM D. ANDERSON CHIEF ECONOMIST NEVADA LABOR MARKET OVERVIEW November 2017 The U.S. Bureau of Economic Analysis (BEA) recently released 2017:IIQ state gross domestic product (GDP) information, the broadest measure of economic activity. As defined by BEA, Nevada s GDP totaled over $131 billion (in 2009 dollars) in this year s second quarter (in current dollars, this equates to $152 billion). While the Silver State s economy has been on the rise since 2011, the value of real economic activity, measured in inflation-adjusted terms, in the State remains slightly below pre-recession levels. Nevada s economy has now grown in 16 consecutive quarters. In 2017:IIQ, the State s economy grew at a three percent clip relative to a year ago, compared to two percent in the nation as a whole. The Silver State s economic growth has exceeded the national average in six of the past nine quarters. Year-over-year GDP growth in Nevada is the ninth-strongest in the nation. Growth in the State s largest employer, accommodation/food services, came to 1.4 percent in the second quarter. Other notable industries grew much faster, including construction, administrative services, and Nevada Nonfarm Jobs: October - November Change Expected Seasonally Unadjusted Seasonal Adjusted Change Movement Change Total Nonfarm Jobs 2,800 1,000 1,800 Private Sector 1, Public Sector 1, wholesale trade, which each grew in excess of seven percent. Economic growth in the healthcare sector came to 4.5 percent, and manufacturing growth totaled 4.1 percent. Health care remains a very prominent topic of discussion in the nation as a whole. Americans spend more on health care now than in years past. Using Regional Economic Modeling Inc. (REMI) information, this month we break down health care services consumption into five distinct categories: dental services, hospitals, nursing homes, paramedical services, and physicians services. In 2017, total health care consumption in the Silver State was nearly $14.4 billion (2009 dollars). This accounts for about 15 percent of total consumption in the economy. The largest share of this consumption was accounted for by hospitals at $6.4 billion, or 45 percent of the total. Physicians services accounted for about a quarter of all spending, 500 E. Third St. Carson City, Nevada (775) Fax (775)

3 annual job growth (SA) 55,000 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Nevada Job Growth vs. Year Ago D J F M A M J J A S O N D J F M A M J J A S O N '15 '16 '17 jobs pct. change while paramedical services (services administered by auxiliary medical personnel such as nurses aides, lab techs, EMS personnel, etc.) account for another 15 percent. One notable item missing from this analysis is consumption related to pharmaceuticals, which totals close to $5 billion in real terms. Technically, this is not a health care service. Instead, it is classified as a good, and will be the subject of future analysis. The Census Bureau s Local Employment Dynamics (LED) Program allows for an analysis of new-hire activity in order to enhance our understanding of important labor market trends. Prior to the recession, new hires in the health care and social assistance industry totaled around 16,000 (measured on a quarterly basis) in Nevada. As the downturn in the economy unfolded, hiring activity in the industry headed south over much of the period, reaching a low of about 11,000 per quarter. Professional/Business Services 4.5% 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% annual percent change most current information suggests that new hire activity is very similar to pre-recessionary levels, hovering around 16,000 per quarter. The increase in hiring activity during the recovery period is consistent with overall employment trends in the industry. LED measures show employment rising by approximately 30,000 since 2010, to 142,000. Looking at the big picture, the State 0.5% continued to add jobs in November, 0.0% with seasonally-adjusted employment up 1,800 from October. The State was expected to gain 1,000 jobs this month, based upon historical trends, but actually added 2,800, resulting in the seasonally-adjusted gain. The private and public sector each gained 900 jobs, seasonally adjusted. Construction Leisure/Hospitality Education/Health Services Government Manufacturing Trade/Transportation/Utilities November totals are up 35,100 from the same month last year, a growth of 2.7 percent. Nationally, employment only grew 1.4 percent over the year, making this the 64 th straight month that job growth in the State has outpaced the nation. November also marks the 83 rd consecutive month of yearover-year job gains in the State. Professional and business services contin- Nevada Nonfarm Job Growth by Industry New hires in the health care industry have been on the rise since the early part of this decade, when the economy began to improve. The Other Services Financial Activities Mining/Logging Information -2, ,000 4,000 6,000 8,000 10,000 12,000 YTD job growth

4 ue to lead the way with the most jobs added year to date, with 10,100 more jobs so far this year than the same period last year, a growth of 5.7 percent. Construction has grown at the fastest rate, with 8,900 or 11.7 percent more jobs year to date. Leisure and hospitality have added 5,800 jobs year to date, non-seasonally adjusted, but saw a seasonally-adjusted decline of 2,500 over the month. Health care and social assistance have added 5,100 jobs year to date, a growth of 4.5 percent. Manufacturing (+ 4.1 percent) and other services (up four percent) are also growing faster than the Statewide average of 3.1 percent. Information remains the only sector to see job losses through the first eleven months of the year, with 100 fewer employed than last year. In light of the unfolding holiday-related increase in both brick-and-mortar and online shopping activity, this month we examine recent trends in seasonal hiring in trade and transportation industries in Nevada. In the years immediately preceding the recession, September through December increases in holiday-related seasonal jobs approached 10,000 in Nevada. As the recession unfolded, the usual seasonal gains disappeared and job growth over the holiday period briefly turned negative. As the recovery began, however, seasonal hiring picked back up, reaching a high of 11,500 in Seasonal hiring eased somewhat from recent trends last year, accounting for only 6,400 additional jobs. That year, wholesale trade and transportation/ warehousing saw typical gains, while retail trade only added about half as many jobs as in recent years. This may reflect on-going structural changes in the retail sector evident nationwide, associated with the expansion of online shopping activity. Through November of this year, hiring in the retail sector remains relatively low, but thanks to early gains in transportation/warehousing, the State has already added 7,200 seasonal jobs between September and November of this year. We will continue to monitor to what extent the structural changes noted previously will continue to impact seasonal retail hiring in Nevada. The Quarterly Census of Employment and Wages (QCEW) Program publishes the most accurate, albeit less-timely, measure of jobs. It represents a comprehensive count of employment based on information reported by all businesses covered under the Unemployment Insurance System, but is not available until several months following the end of a calendar quarter. As such, QCEW is the principal source of benchmark data for the more timely Current Employment Statistics (CES) monthly estimates--which are revised at the end of every calendar year. Both the CES and QCEW series have turned in strong performances this year, resulting in an average employment growth around 40,000 over the year during the first half of Although both series have demonstrated strong growth, CES appears to have been estimating slightly on the conservative side, resulting in lower average growth estimates than QCEW. As a result, minor revisions, likely upward, are expected during the year-end CES benchmarking process. In the years preceding the economic downturn, Nevada led the country in private sector employment growth. Indeed, Nevada had the highest employment growth rate in the country in 2005 (6.4 percent). Conversely, during the recession, Nevada was the most affected state in terms of private sector employment growth. In fact, Nevada s employment growth was the lowest in the nation in 2009 (-10.1 percent) and 2010 (-2.8 percent). In essence, over the course of three years, the Silver State went from the top of the job growth rankings to the bottom. Nevada has gradually regained lost ground over the past six years. With data through the second quarter of 2017, Nevada has re-

5 gained the title of the fastest-growing private sector in the United States, with the addition of 41,000 jobs relative to the first six months of 2016, a growth rate of 3.7 percent. Right behind the Silver State, in terms of growth, are Idaho, Utah, and Florida. Information from QCEW shows 6% that weekly wages in Nevada averaged $900 during the second 4% quarter of This compares to 2% $874 during the same period last 0% year, an increase of $26, or three percent, year-over-year. Wages have been trending up since Initially, gains were quite modest. However, gains have been recorded in 15 of the past 17 quarters, and are showing some signs of strengthening, as evidenced by this year s second quarter increase. At the height of the recession, wages declined in five of seven quarters. Underlying trends continue to improve as well, as wage growth is more than keeping up with inflation. During the second quarter of 2017, consumer prices rose 1.9 percent relative to a year ago, according to the Consumer Price Index reported by the Bureau of Labor Statistics (BLS). This suggests that wages are continuing to grow in real terms. As an aside, we have seen considerable volatility in wage gains of late. Over the past four quarters, year-over-year growth has ranged from -1.2 percent to 10.2 percent. However, we do believe that the most recent gain of three percent is fairly indicative of underlying trends. As of 2017:IIQ, employment in Nevada firms with less than 100 employees totaled 625,000. This represents a new record high surpassing the prior record set in 2016:IVQ by just over 11,000 jobs. It also marks the ninth-consecutive quarter in which the pre-recessionary peak has been exceeded. unemployment rate (SA) 16% 14% 12% 10% 8% Unemployment Rate: Nevada vs. U.S. '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 Nevada U.S. All told, the 21,900 year-over-year job gain recorded in this year s second quarter translates into the 26th consecutive quarter of annualized growth. In addition, it represents the strongest gain recorded since the recovery began. Prior to the recession, small business employment peaked at nearly 586,000 in 2007:IVQ. As the downturn unfolded, small business jobs fell to 510,000. Hence, nearly 115,000 jobs have been added to small business payrolls in the Silver State since the recovery began. Small business employment accounts for 53.4 percent of all private employment. This is consistent with trends evident since the recovery began, as small business job share has held in a fairly narrow range. Among other things, the BLS s Business Employment Dynamics Program allows us to look at Nevada s relative performance as it pertains to business establishment openings. Nevada s labor market has been on the mend since bottoming out in Since then, trends in business establishment openings have been more encouraging than in the nation as a whole. During the first quarter of 2017, Nevada had 4,100 new business establishments. This

6 is up approximately one-fourth from the beginning of 2011, when the labor market first showed signs of improvement. In the United States as a whole, there were 423,000 new businesses during the first quarter of 2017 up just seven percent from the beginning of the recovery. Openings have exceeded 4,000 in each of the past four quarters, a first for this recovery. Most importantly, underlying trends in business openings show that growth has been fairly consistent over time. As with other barometers of labor market activity, these results highlight the improvement in Nevada during the post-recession period, both in absolute terms, and relative to the U.S. as a whole. Nevada s unemployment rate stayed steady at five percent in November, after experiencing no change from October and a decline of 0.2 percentage point from November of last year. The Silver State s labor force continues to expand, with 19,300 more employed or job-seeking Nevadans year to date, compared to the same period last year. As the State s labor markets have improved, more individuals have begun or renewed their search for work, which limits downward pressure on the jobless rate. The national unemployment rate also remained unchanged this month, at 4.1 percent. Information from the monthly Current Population Survey (CPS), sponsored by the Census Bureau and the BLS, allows for the analysis of the unemployment rate across various age groups in the Silver State. The unemployment rate tends to be higher for the year old group, which includes teens and young adults. Before the recession, the unemployment rate for this age group averaged 9.5 percent (expressed as a 12-month moving average), about six percentage points higher compared to other age cohorts. Teens and young adults were the most affected by the downturn. The unemployment rate for this group peaked at 23 percent during the recession, roughly ten points higher than that for other age cohorts. As the recovery unfolded, the unemployment rate for all groups started to decrease. In November, teens and young adults have an unemployment rate of 10.2 percent, which is, once again, about six percentage points higher than the other age groups. The gap between the jobless rate for Nevada s younger workers and that for the overall labor force stays fairly stable over time. Recent trends are consistent with these historical patterns. In addition, trends in the Silver State are very similar to those for the nation as a whole. Prior to the economic downturn, the number of Nevadans employed full-time topped out at nearly 1.1 million, measured on a 12-month moving average, based upon results from the CPS. At this peak level, full-time employment represented about 83 percent of the total. Silver State residents employed parttime numbered approximately 225,000. During the recession, full-time employment fell to about 831,000, for a cyclical decline of more than 230,000. As would be expected in times of economic uncertainty, part-time employment actually rose, resulting in a gain of nearly 90,000 positions between mid-2006 and mid-2011, totaling over 300,000 jobs. Since the economic trough, full-time employment has risen in November 2017, employees with full-time status totaled 1,052,000, a gain of 221,000 from recessionary lows. The number of Nevadans employed on a part-time basis, on the other hand, is holding relatively steady, coming in at approximately 321,000 in November. While there is still room from improvement, Nevada employment gains have been concentrated in full-time positions during the economy recovery. Currently, 76.6 percent of total employment is full-time, while part-

7 initial claims for unemployment insurance 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 Initial Claims for Unemployment Insurance 0 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 claims 12-month moving average time positions account for 23.4 percent. Initial claims for unemployment insurance (UI) totaled 13,500 in November, up 21 percent from October s reading of 11,200. This month s increase is a continuation of the seasonal increase in claims activity that occurs at the end of every year, and is not a cause for concern. However, this month s initial claims activity is also up 5.1 percent relative to last year s November reading. This is the second consecutive month of a slight yearover-year gain, suggesting that claims activity is likely in the process of leveling off after several years of decline. Other indicators suggest that overall UI activity remains on the mend. For example, the exhaustion rate, which shows the share of UI claimants who ran out of benefits prior to finding employment, is down to 35.7 percent, down 1.6 percentage points relative to last year. The average duration of UI benefits measures the average length of time UI claimants receive unemployment benefits. The duration of benefits tends to decline during robust economic periods and increase during economic downturns. Since 2000, average duration has seen two significant spikes in Nevada, both occurring during recessionary periods. The more mild recession of the early-2000s drove the average duration up to nearly 16 weeks. The most recent, and more severe, recession saw average duration rise to an all-time high in Nevada, peaking at over 19 weeks in mid Since then, the average duration has generally fallen and has been stable at around 13.5 weeks. The decline indicates that UI claimants have had more success finding employment. A milestone for the State s UI program was reached on the first of December, when Nevada made its final payment on its UI Trust Fund bonds. Following the unprecedented levels of UI benefit payments seen during the recession, Nevada s Trust Fund fell as low as negative $800 million, forcing the State to borrow from the federal government. Opting for overall rate stability, Nevada issued $592 million in bonds to pay back the loans and build a small, positive balance in the State s UI Trust Fund. Since then, employers have paid an additional tax assessment with their UI taxes to cover the bond obligations. Having paid off those obligations, the average employer will see a 0.63 percent decline in their overall tax rate, or nearly $166 per employee per year. Concurrent with the payoff of the bond, the State s Trust Fund has surpassed $1 billion in reserve funds. With real-time labor market information obtained as part of DETR s Silver State Solutions Initiative, we can provide an alternative assessment of the health of the State s economy via an analysis of current online job posting activity 1. For much of 2017, total job ad volume has been lagging behind 1 Online job postings are obtained through DETR s Silver State Solutions initiative. Online job posting volume does not necessarily correlate with the level of job openings or hiring. Internal company hiring and union hiring are often not captured by online ads. High ad volume often occurs for occupations/ industries that are having difficulty finding qualified candidates, high turnover positions/recurring openings, or when companies are building large candidate pools. Online job postings should only be used with caution when developing/analyzing time series trends due to the constant changes in the rate of online advertising usage and in the methods used for collecting the data.

8 2016 totals. This is likely a result of Craigslist, a major source of online job ads, expanding posting fees to all markets. Through November, 195,900 ads have been posted for jobs in Nevada; this is 10,800 fewer than during the same period last year. At the same time, the portion of jobs identified as full-time rather than part-time has increased, from 88.6 percent last year to 90.0 percent so far this year 2. 25,000 20,000 15,000 10,000 5,000 Nevada Online Job Postings Job Postings 12-Month Moving Average 2 Not all job ads specify whether the advertised position is full-time or part-time.

9 Nevada Labor Market Briefing: November 2017 Special Topics Slides The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

10 Nevada s Economy Has Expanded in Each of the Past 16 Quarters; GDP Growth Exceeds the Nation s in Six of Past Nine Quarters gross domestic product; millions of 2009 $; seasonally adjusted annual rates $145,000 $140,000 $135,000 $130,000 $125,000 $120,000 $115,000 $110,000 $105,000 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 6% 4% 2% 0% -2% -4% -6% -8% -10% year-over-year growth y/y growth gross domestic product The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

11 Hospitals Account for 45% of all Consumption Expenditures on Health Care Services in the Silver State Nursing Homes Physicians Services Dental Services Hospitals Paramedical Services The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

12 Hiring Activity in Nevada s Health Care/Social Assistance Industry Has Been on the Rise Since 2010; at Record Levels of Late 20,000 18,000 health care/social assistance industry new hires 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

13 Holiday-Related Hiring May be Easing in Nevada Due to Structural Change in the Retail Sector 14,000 12,000 September - December job growth (wholesale, retail, and transportation/warehousing) 10,000 8,000 6,000 4,000 2, ,000 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 YTD The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

14 CES Job Estimates Appear to be Consistent with QCEW Trends; Growth Hovering Close to 40K Over-the-Year in First Half of ,000 50,000 year-over-year job growth 40,000 30,000 20,000 10, QCEW CES The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

15 Nevada Maintains Highest Private Sector Job Growth in the U.S. Through First Half of the Year; Employment up 41,000 vs states with private sector employment growth less than Nevada '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 YTD The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

16 Average Weekly Wages at $900 in 2017:IIQ Highest Second Quarter Reading on Record $1,000 12% $950 10% $900 8% average weekly wage $850 $800 $750 6% 4% 2% 0% percentage change $700-2% $650-4% $600 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 percentage change average weekly wage -6% The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

17 Small Businesses Employment Continues to Set New Records; Up Nearly 22,000 Jobs From a Year Ago During 2017:IIQ 650, , , , ,000 jobs 550, , , , , ,000 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

18 Nevada Private Sector Business Establishment Openings Trending Up Over the Recovery; Outpacing U.S. as a Whole :IQ = IQ IIQ IIIQIVQ IQ IIQ IIIQIVQ IQ IIQ IIIQIVQ IQ IIQ IIIQIVQ IQ IIQ IIIQIVQ IQ IIQ IIIQIVQ IQ '11 '12 '13 '14 '15 '16 '17 Nevada U.S. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

19 Unemployment Rate for Teens and Young Adults Tends to be Higher Than Other Age Groups 25% unemployment rate; 12-month moving average 20% 15% 10% 5% 0% '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 ' total rate The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

20 Full-Time Employment Strong Since the Recovery Began; Part-time Holding Relatively Steady 1,200,000 1,000,000 employment; 12-month moving average 800, , , ,000 0 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 full-time part-time The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

21 Average Duration of State UI Benefits Peaked at 19+ Weeks; Now Down to Nearly 13 Weeks weeks '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

22 NEVADA Employment & Unemployment November 2017 Employment Growth M/M Y/Y Y/Y% Nevada % (Seasonally Adjusted) Nevada % (Non-Seasonally Adjusted) United States 510 2, % (Seasonally Adjusted) (Employment in thousands) Unemployment Rates: Nevada Statewide 5.0% (Seasonally Adjusted) Nevada Statewide 4.9% (Non-Seasonally Adjusted) United States 4.1% (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)

23 Nevada Labor Force Summary Statewide (Estimates In Thousands) Nov-17 Nov-16 CHANGE % CHANGE Oct-17 Seasonally Adjusted LABOR FORCE % EMPLOYMENT % UNEMPLOYMENT % 72.5 UNEMPLOYMENT RATE 5.0% 5.2% % Non-Seasonally Adjusted LABOR FORCE % EMPLOYMENT % UNEMPLOYMENT % 70.7 UNEMPLOYMENT RATE 4.9% 5.0% % UNEMPLOYMENT RATES BASED ON UNROUNDED DATA Employment adjusted by census relationships to reflect number of persons by place of residence. Information compiled by DETR's Research & Analysis Bureau

24 Seasonally Adjusted Establishment Based Industrial Employment Nevada Statewide Total All Industries (Estimates In Thousands) Nov-17 Nov-16 CHANGE % CHANGE Oct % Natural Resources & Mining % 14.2 Construction % 88.1 Manufacturing % 45.8 Durable Goods % 28.8 Non-durable Goods % 17.0 Trade, Transportation & Utilities % Wholesale % 33.8 Retail % Transportation, Warehousing & Utilities % 64.4 Information % 14.1 Financial Activities % 63.3 Real Estate & Rental Leasing % 27.8 Professional & Business Services % Professional, Scientific and Technical % 58.6 Administrative & Support and Waste Mgt % Education and Health Services % Educational Services % 13.5 Health Care and Social Assistance % Leisure and Hospitality % Arts, Entertainment and Recreation % 31.5 Accommodation and Food Service % Other Services % 41.9 Government % Federal % 19.5 State % 38.6 Local % 105.8

25 Total All Industries Goods Producing Non-Seasonally Adjusted Establishment Based Industrial Employment Nevada Statewide (Estimates In Thousands) Nov-17 Nov-16 CHANGE % CHANGE Oct % % Natural Resources & Mining % 14.2 Metal Ore Mining % 11.1 Construction % 90.2 Construction of Buildings % 14.1 Specialty Trade Contractors % 68.2 Manufacturing % 45.9 Durable Goods % 28.8 Miscellaneous durable goods % 7.4 Other Miscellaneous (Includes Slot Mfg.) % 6.4 Non-durable Goods % 17.1 Service Providing % Private Service Providing % Trade, Transportation & Utilities % Wholesale % 34.0 Retail % Food & Beverage Stores % 24.0 Health and Personal Care Stores % 9.7 Transportation, Warehousing & Utilities % 64.7 Utilities % 4.0 Transportation & Warehousing % 60.7 Air Transportation % 7.1 Transit and Ground Passenger % 14.0 Taxi and Limousine Service % 9.9 Information % 14.1 Telecommunications % 3.9 Financial Activities % 64.3 Finance and Insurance % 36.1 Credit Intermediation and Related Activities % 20.3 Real Estate & Rental Leasing % 28.2 Professional & Business Services % Professional, Scientific and Technical % 58.8 Management of Companies % 25.1 Administrative & Support and Waste Mgt % Administrative & Support Services % Employment Services % 24.1 Education and Health Services % Educational Services % 13.7 Health Care and Social Assistance % Ambulatory Health Care Services % 55.6 Hospitals % 30.8 Leisure and Hospitality % Arts, Entertainment and Recreation % 31.3 Amusement, Gambling, and Recreation Industries % 23.9 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 9.8 Food Services and Drinking Places % Full-Service Restaurants % 62.4 Limited-Service Restaurants % 46.8 Other Services % 42.1 Government % Federal % 19.4 State % 39.9 Local % 107.0

26 2017 Seasonally Adjusted Industrial Employment (Estimates In Thousands) Nevada Statewide JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC AVERAGE Total All Industries Natural Resources & Mining Construction Manufacturing Durable Goods Non-durable Goods Trade, Transportation & Utilities Wholesale Retail Trade Transportation, Warehousing & Utilities Information Financial Activities Real Estate & Rental Leasing Professional & Business Services Professional, Scientific and Technical 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 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. Nov-17 Information compiled by DETR's Reseach & Analysis Bureau

27 2017 Non-Seasonally Adjusted Industrial Employment (Estimates In Thousands) Nevada Statewide JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC AVERAGE Total All Industries Goods Producing Natural Resources & Mining Metal Ore Mining Construction Construction of Buildings Specialty Trade Contractors Manufacturing Durable Goods Computer & Electronic Products Other Miscellaneous,Includes Slot Mfg Non-durable Goods Service Providing Private Service Providing Trade, Transportation & Utilities Wholesale Retail Food & Beverage Stores Health and Personal Care Stores Transportation, Warehousing & Utilities Utilities Transportation & Warehousing Air Transportation 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 Amusement, Gambling, 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. Information compiled by DETR's Reseach & Analysis Bureau Nov-17

28 2017 LABOR FORCE SUMMARY DATA (Estimates In Thousands) Nevada Statewide JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG NEVADA SA* LABOR FORCE EMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE 5.0% 4.9% 4.8% 4.7% 4.7% 4.7% 4.8% 4.9% 4.9% 5.0% 5.0% 4.9% NEVADA NSA* LABOR FORCE EMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE 5.1% 5.1% 4.7% 4.6% 4.6% 4.9% 5.1% 5.0% 5.0% 4.8% 4.9% 4.9% Note: Unemployment rates are based on unrounded data. Nov-17 Employment adjusted by census relationships to reflect number of persons by place of residence. *Seasonally Adjusted *Non-Seasonally Adjusted