Nevada s Unemployment Rate Falls to 9.6 Percent in April

Transcription

1 For Immediate Release May 16, 2013 Nevada s Unemployment Rate Falls to 9.6 Percent in April In April, Nevada s unemployment dropped to 9.6 percent, falling nearly 2 percentage points over the year. This equates to 132,400 people out of work, dropping by 27,000 since April 2012, said Chief Economist Bill Anderson, of Nevada s Department of Employment, Training and Rehabilitation (DETR). The state s metro areas also saw a decline in the number of jobless in April. Las Vegas unemployment rate fell to 9.6 percent and the Reno/Sparks area rate dropped to 9.7 percent. Carson City fell to 10.1 percent and is now the only metro area in the state to have a double digit unemployment rate. In Elko, the rate dropped to 5.6 percent. Nonfarm employment in Nevada rose by 5,600 jobs on a seasonally adjusted basis. The private sector added 6,400 jobs over-the-month, while the public sector cut 800. Given historical trends, job levels typically increase by 4,200 (not seasonally adjusted) over the March-April timeframe, Anderson said. This year, 9,800 were created, resulting in the seasonally adjusted gain. 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 April 2013 Nevada s economic recovery is gaining momentum, but the State still tops many unfavorable lists. Over the past year, Nevada added 22,700 new jobs, equating to a two percent rate of growth and the unemployment rate has fallen nearly two percentage points to 9.6 percent in April. Even with improvement in nearly all corners of the economy, Nevada still has the largest ratio of underwater homes of any state in the Nevada and Sub-State Nonfarm Jobs: Mar. - Apr. Change Expected Seasonally Unadjusted Seasonal Adjusted Change Movement Change Total Nonfarm Jobs 9,800 4,200 5,600 Private Sector 10,300 3,900 6,400 Public Sector Las Vegas 8,700 3,300 5,400 Reno Carson City ,000 25,000 Nevada Nonfarm Job Growth (seasonally adjusted; year-over-year) nation, the highest labor market underutilization rates, and thus far the percent of jobs recovered pales in comparison to other regions of the country. These topics are addressed in more detail in this month s Overview. First and foremost, nonfarm employment in Nevada rose by 5,600 jobs on a seasonally adjusted basis. The private sector added 3% 6,400 jobs over-the-month, while the public sector cut 800. Given historical trends, job levels typically increase by 4,200 (not seasonally adjusted) over the March- April timeframe. This year, 9,800 were created, resulting in the seasonal gain discussed above. Final estimates for March were revised to show a loss of 2,800 from February to March. During the first four months of the year, Nevada has averaged 800 new jobs per month. jobs 20,000 15,000 10,000 5,000 0 M J J A S O N D J F M A M J J A S O N D J F M A Jobs Pct. Change 2% 1% 0% percent change Employment in the goodsproducing industries declined by 1,200 over-themonth, largely driven by a decline of 1,000 in construction (though job readings remain slightly 500 E. Third St. Carson City, Nevada (775) Fax (775)

3 higher than a year ago). Construction also saw the largest decline, 1.9 percent, as compared to March Mining and manufacturing were essentially unchanged. On the service-providing side, professional and business services (+4,300) had the largest over-themonth change with most of the gains coming from the administrative/support/waste management/remediation services sector (+3,400), which houses the temporary hiring agencies. The gains in professional and business services, in our opinion, are long overdue. Last year, the sector grew at a rate of 3.2 percent, a top performer in Nevada, as far as employment goes. It became evident after the benchmark process (where the Current Employment Statistics (CES) are realigned with data from the Quarterly Census of Employment and Wages, which is a near perfect count of over 98 percent of the jobs the CES estimates) that the series consistently underestimated employment in Given the lackluster performance to date in 2013, we suspect the sample may be underestimating job growth again. The industry is down 1,900 jobs so far this year, and is the lone industry not growing in Leisure and hospitality, Nevada s largest employer, saw an increase of 2,100 jobs, a 0.6 percent gain from March-April. In the leisure and hospitality sector, the employment expansions are specifically coming from the accommodation and food service sub-sector, which gained 2,200 jobs. Education and health services notched upward with a gain of 700 jobs and financial activities increased by 600. The loss of 800 in government employment was evenly split between state and local government. Other services, manufacturing, mining, and trade/transportation/utilities were little changed over the month. On a year-over-year basis, Nevada is seeing advances in nearly all industries. The top growth rates are seen in mining at 5.9 percent, financial activities at 4.3 percent, and construction at 4.1 percent. Real estate, rental and leasing, a subsector of financial activities, which has been struggling to rebound from the economic downturn until lately, experienced a 7.4 percent growth rate, adding 1,700 jobs as compared to April Nevada Nonfarm Job Growth by Industry (year-to-date; year-over-year) Leisure & Hospitality Trade, Transportation, & Utilities Construction Education & Health Services Financial Activities Government Mining & Logging Manufacturing Other Services Professional & Business Services -4,000-2, ,000 4,000 6,000 8,000 10,000

4 16% 14% 12% 10% 8% 6% 4% 2% Unemployment Rate: Nevada vs. the U.S. (seasonally adjusted) 0% '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 The unemployment rate, at 9.6 percent, changed little in April but has declined by 1.9 percentage points since last year. The number of unemployed people, at 132,400, was also little changed over the month; however, unemployment has decreased by 27,000 since April The continuing improvement in Nevada s economy is apparently encouraging more people to join the labor force, which has grown by 6,100 people since January. The civilian labor force participation rate (LFPR) was 63.9 percent in April, an increase of 0.1 percent from March, the first increase since early However, as previously stated in past issues of the Nevada Labor Market Overview, due to the aging demographics of the population, we do not expect the LFPR to rebound sharply even if the economy improves dramatically. The unemployment rate fell in each of the State s metro areas. 1 Las 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, NV U.S. Vegas had a reading of 9.6 percent, down by 0.2 overthe-month, and the rate in the Reno/Sparks area fell by 0.3 to 9.7 percent. Carson City fell by 0.5 percentage point to 10.1 percent and is now the only metro area in the State to have a double digit unemployment rate. In the Elko area, the rate dropped to 5.6 from 5.9 percent in March. The unemployment rate is a prominent measure of labor market performance. The Bureau of Labor Statistics reports six alternative measures of labor underutilization, deemed the U1-U6 rates, with the official unemployment rate most similar to the U-3 rate. The official ranks of the unemployed include all people without jobs who are ready to work and have actively sought employment in the prior four weeks. The other measures are provided to analyze the rate by redefining the official concept. Of the six other measures of underemployment, most attention is paid to the discouraged workers (U-4) and involuntary part-timers (U-6). Including all the people discouraged over jobs prospects (not included in the official definition because of failing to meet the job search criteria), the unemployment rate would increase by about 0.9 percentage point. The broadest measure of labor underutilization rates, U-6, includes involuntary parttimers, defined as those working however, can be made to the State s unadjusted rate 9.5 percent in April, down from 9.8% in March and down from 11.2 percent in April 2012.

5 Esmeralda Lander Humboldt Elko Eureka White Pine Churchill Clark Nevada Washoe Pershing Carson City Storey Douglas Lincoln Nye Mineral Lyon County Unemployment Rates (year-to-date) 0% 2% 4% 6% 8% 10% 12% 14% 16% part-time, but prefer full-time work. The U-6 rate, at 19.6 percent, dropped below 20 percent after peaking in the four-quarters ending in 2011:Q1 at 23.7 percent. While the job changes discussed above are at the forefront of labor market discussions, the Business Employment Dynamics series offers insight into the underlying forces below the employment movements. For example, in 2012:Q3, the latest data available, gross job gains at expanding or opening private sector establishments totaled 58,100. At the same time, 56,800 jobs were lost at closing or contracting establishments. The difference between the number of gross job gains and gross jobs losses yielded a net employment gain of 1,300 jobs in the private sector during the 3rd quarter of This represents the eighth consecutive quarter of net job growth, based upon BED measures. There is no doubt Nevada s economy is making strides in the right direction. A handful of states have entered into expansionary territory, including one of Nevada s neighbors, Utah. Late in 2012, Utah surpassed its previous employment peak set in The West South Central Census Division was the first and only Census division to surpass its former peak set in Not all regions peaked during the timeframe. The New England area hit a quarterly peak in 2001:Q1, and has recovered a little more than 64 percent of the jobs lost since the former apex. The East North Central Division also had a peak more than 10 years ago in 2000, and struggled to regain employment after the 2001 recession. The Mountain Division (including Nevada) has recovered 54.9 percent of the jobs lost since its pre-recessionary peak. For comparison, Nevada has recovered just 24 percent. Improving fundamentals and a resurgence in Americans moving to sunnier states from the north is having a beneficial impact on Nevada s ailing housing market. CoreLogic reported that over 50 percent of the mortgages in Nevada were underwater in 2012:Q4. Given the impressive gains in home prices detailed last month (year-over-year gains were up nearly 20 percent), expect this ratio to fall throughout the year similar to last year. To illustrate, last year Nevada had an estimated 61 percent of mortgaged properties with negative equity. For comparison, Florida and Arizona had the next highest ratios at 40.2 and 34.9 percent, respectively. Nevada

6 still has a long way to go in the housing recovery as it again holds the number one position on an unfavorable list. The seemingly great deals in the real estate market could be a reason why people are still moving to the Silver State. Recently released data from the Census Bureau listed Clark County as 10th on the list for counties with the largest numerical population increase from July 2011 to July Both the analysis of regional employment recovery and underwater mortgages highlight an important aspect of our recovery Nevada s early recovery phase has been lackluster. It has only been recently that Nevada outpaced nationwide barometers, implying many more states were growing faster. As the labor market continues to improve, Nevada could move rapidly to make up lost ground. The Las Vegas metropolitan statistical Area (MSA) experienced employment growth of 0.6 percent in April relative to the prior month, increasing by 5,400 jobs. Reno/Sparks MSA experienced a slight loss of 200 jobs, and Carson City employment decreased by 100. The balance of state, mainly the rural areas, had a modest increase of 500 jobs. Over-the-year, Las Vegas has added 18,500 jobs (2.3 percent), Reno/Sparks added 600 jobs (0.3 percent), and Carson City employment fell by 200. Nevada Las Vegas Reno Carson City Estimates of GDP by metropolitan area are available through 2011, making the data a little dated, but nonetheless insightful. In 2011, Las Vegas was the only metropolitan area to increase its output from the previous year, rising by 0.5 percent. On the other hand, Carson City s output declined by 0.7 percent. In the Reno/Sparks area, output declined by 0.5 percent after rising by 1.7 percent in Each of Nevada s three metropolitan areas recorded a peak output in Reno/Sparks was the first of the metro areas to bottom out, reaching a low in 2009, while Las Vegas recorded a post-recession low in Carson City s output reached new lows in GDP growth by MSA again illustrates that much of Nevada s growth is concentrated in Las Vegas. All told, real GDP in Las Vegas grew by more than one-fourth over the decade ending in The Reno/Sparks economy grew 14.6 percent, whereas Carson City has only seen a 6.7 percent increase. Metro Area Nonfarm Job Growth (year-to-date; year-over-year) -5, ,000 10,000 15,000 20,000 25,000 30,000

7 Look for job growth across Nevada to average about 23,000 new jobs over the course of 2013 about a 2.1 percent growth rate. Over the 2014 to 2015 timeframe, employment is projected to expand by 30,000 and 33,000, respectively. The projections stem from an employment base of 1.13 million. In terms of the unemployment rate, we expect the 2013 annual average to come in around 9.4 percent with another point decline in For reference, through the first four months of 2013, the unemployment rate has averaged 9.9 percent. By the time 2015 arrives, the unemployment rate in Nevada should be around the eight percent range. In summary, a rising number of jobs and a falling unemployment rate nudged Nevada a step in the right direction. Nevada may be making up lost ground as its recovery unfolded later than most other states.

8 Employment & Unemployment Estimates for April 2013 Unemployment Rates: Nevada Statewide 9.6% (Seasonally Adjusted) Las Vegas-Paradise MSA 9.6% Reno-Sparks MSA 9.7% Carson City MSA 10.1% Elko Micropolitan Area 5.6% United States 7.5% (Seasonally Adjusted) California (Mar) 9.4% (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) This information is embargoed until officially released on May 16, 2013

9 Nevada Labor Force and Unemployment (Estimates In Thousands) LABOR FORCE SUMMARY APR 2013 APR 2012 CHANGE % CHANGE MAR 2013 NEVADA STATEWIDE Seasonally Adjusted TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 9.6% 11.5% % TOTAL EMPLOYMENT 1/ % NEVADA STATEWIDE TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 9.5% 11.2% % TOTAL EMPLOYMENT 1/ % Las Vegas-Paradise MSA Includes Clark County TOTAL LABOR FORCE % UNEMPLOYMENT % 97.1 UNEMPLOYMENT RATE 9.6% 11.3% % TOTAL EMPLOYMENT 1/ % Reno-Sparks MSA Carson City MSA Includes Washoe and Storey Counties TOTAL LABOR FORCE % UNEMPLOYMENT % 22.1 UNEMPLOYMENT RATE 9.7% 11.2% % TOTAL EMPLOYMENT 1/ % TOTAL LABOR FORCE % 27.4 UNEMPLOYMENT % 2.9 UNEMPLOYMENT RATE 10.1% 11.6% % TOTAL EMPLOYMENT 1/ % 24.5 Elko Micropolitan Area Includes Elko and Eureka Counties TOTAL LABOR FORCE % 31.7 UNEMPLOYMENT % 1.9 UNEMPLOYMENT RATE 5.6% 6.0% % TOTAL EMPLOYMENT 1/ % 29.8 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

10 Seasonally Adjusted Establishment Based Industrial Employment Nevada Statewide (Estimates In Thousands) APR 2013 APR 2012 CHANGE % CHANGE MAR % Natural Resources & Mining % 16.4 Construction % 53.1 Manufacturing % 39.7 Durable Goods % 25.1 Non-durable Goods % 14.6 Trade, Transportation & Utilities % Wholesale % 34.0 Retail % Transportation, Warehousing & Utilities % 52.9 Financial Activities % 56 Finance and Insurance % 31.5 Real Estate & Rental Leasing % 24.5 Professional & Business Services % Professional, Scientific and Technical % 45.8 Management of Companies % 19.4 Administrative & Support and Waste Mgt % 75.0 Education and Health Services % Educational Services % 9.3 Health Care and Social Assistance % Leisure and Hospitality % Arts, Entertainment and Recreation % 27.0 Accommodation and Food Service % Other Services % 33.4 Government % Federal % 18.2 State % 37.2 Local % 96.0 Las Vegas-Paradise MSA APR 2013 APR 2012 CHANGE % CHANGE MAR % Reno/Sparks MSA APR 2013 APR 2012 CHANGE % CHANGE MAR % Carson City MSA APR 2013 APR 2012 CHANGE % CHANGE MAR % 27.7

11 Nevada Statewide (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT APR 2013 APR 2012 CHANGE % CHANGE MAR % Goods Producing % Natural Resources & Mining % 16.2 Metal Ore Mining % 12.1 Construction % 51.4 Construction of Buildings % 9.3 Specialty Trade Contractors % 34.5 Manufacturing % 39.4 Durable Goods % 24.9 Computer & Electronic Products % 10.6 Other Miscellaneous (Includes Slot Mfg.) % 7.0 Non-durable Goods % 14.5 Services Producing % Private Service Providing % Trade, Transportation & Utilities % Wholesale % 33.7 Retail % General Merchandise & Clothing % 46.8 Food & Beverage Stores % 20.1 Health and Personal Care Stores % 7.7 Transportation, Warehousing & Utilities % 52.4 Utilities % 4.0 Transportation & Warehousing % 48.4 Trucking, Couriers/Messengers, and % 21.6 Air % 6.2 Transit and Ground Passenger % 13.6 Taxi and Limousine Service % 9.8 Information % 12.5 Telecommunications % 4.1 Financial Activities % 55.8 Finance and Insurance % 31.6 Credit Intermediation & Related % 18.1 Real Estate & Rental Leasing % 24.2 Professional & Business Services % Professional, Scientific and Technical % 46.4 Management of Companies % 19.5 Administrative & Support and Waste Mgt % 74.2 Administrative & Support Services % 70.7 Employment Services % 17.6 Education and Health Services % Educational Services % 9.7 Health Care and Social Assistance % 99.9 Ambulatory Health Care Services % 44.3 Hospitals % 24.6 Leisure and Hospitality % Arts, Entertainment and Recreation % 26.8 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 10.2 Food Services and Drinking Places % Full-Service Restaurants % 51.0 Limited-Service Restaurants % 38.2 Other Services % 33.1 Government % Federal % 18.0 State % 38.7 Local % 97.7 UNEMPLOYMENT RATES BASED ON UNROUNDED DATA 1/ Adjusted by census relationships to reflect number of persons by place of residence.

12 Las Vegas-Paradise MSA Includes Clark County (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT APR 2013 APR 2012 CHANGE % CHANGE MAR % Goods Producing % 56.9 Natural Resources & Mining % 0.3 Construction % 36.5 Construction of Buildings % 6.4 Specialty Trade Contractors % 25.7 Building Foundation & Exterior Contractors % 6.1 Building Finishing Contractors % 6.4 Manufacturing % 20.1 Durable Goods % 11.7 Other Miscellaneous Manufacturing % 4.5 Non-durable Goods % 8.4 Services Producing % Private Service Providing % Trade, Transportion & Utilites % Wholesale % 20.3 Retail % 98.4 General Merchandise & Clothing % 37.0 Food & Beverage Stores % 14.5 Health and Personal Care Stores % 6.3 Trans, Warehousing & Utilities % 35.1 Utilities % 2.6 Transportation & Warehousing % 32.5 Air % 5.6 Transit and Ground Passenger % 12.5 Taxi and Limousine Service % 9.5 Information % 9.4 Telecomunications % 3.1 Financial Activites % 42.7 Finance and Insurance % 23.8 Credit Intermediation & Related % 13.8 Real Estate and Rental and Leasing % 18.9 Professional & Business Services % Professional, Scientific and Technical % 32.5 Management of Companies % 15.4 Administrative & Support and Waste Mgt % 59.5 Administative and Support Services % 55.9 Employment Services % 12.2 Other Support Services % 7.0 Education and Health Services % 75.5 Health Care and Social Assistance % 67.6 Ambulatory Health Care Services % 32.2 Hospitals % 16.6 Leisure and Hospitality % Arts, Entertainment and Recreation % 17.9 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 5.2 Food Services and Drinking Places % 82.8 Full-Service Restaurants % 41.5 Limited-Service Restaurants % 28.6 Other Services % 24.1 Government % 98.0 Federal % 12.5 State % 19.8 Local % 65.7 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.

13 Reno-Sparks MSA Includes Washoe and Storey Counties (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT APR 2013 APR 2012 CHANGE % CHANGE MAR % Goods Producing % 19.9 Natural Resources & Mining % 0.2 Construction % 8.3 Manufacturing % 11.4 Miscellaneous Manufacturing % 2.5 Services Producing % Private Service Producing % Trade, Transportion & Utilites % 41.6 Wholesale % 8.5 Retail % 20.4 General Merchandise & Clothing % 6.7 Food & Beverage Stores % 3.1 Trans, Warehousing & Utilities % 12.7 Information % 2.0 Financial Activites % 8.9 Finance and Insurance % 5.5 Professional & Business Services % 23.8 Administrative & Support and Waste Mgt % 11.7 Education and Health Services % 22.0 Leisure and Hospitality % 34.6 Accommodation and Food Service % 28.5 Accommodation % 15.4 Casino Hotels % 14.3 Food Services and Drinking Places % 13.1 Other Services % 6.0 Government % 30.2 Federal % 3.5 State % 9.9 Local % 16.8 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 Carson City MSA Includes Carson City (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT APR 2013 APR 2012 CHANGE % CHANGE MAR % 27.6 Goods Producing % 3.4 Manufacturing % 2.6 Services Producing % 24.2 Private Service Producing % 14.5 Trade, Transportion & Utilites % 3.7 Retail % 2.9 Professional & Business Services % 2.0 Leisure and Hospitality % 3.4 Government % 9.7 Federal % 0.5 State % 7.2 Local % 2.0 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. Information compiled by DETR's Reseach & Analysis Bureau

15 2013 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 Construction 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 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 May-13

16 Nevada Statewide 2013 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 Construction of Buildings 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. May-13

17 Las Vegas-Paradise MSA 2013 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 Contrac 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. May-13

18 Reno-Sparks MSA 2013 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. May-13

19 Carson City MSA 2013 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. May-13 Information compiled by DETR's Reseach & Analysis Bureau

20 2013 NEVADA LABOR FORCE SUMMARY DATA Estimates In Thousands Revised May JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG NEVADA TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 10.2% 9.8% 9.8% 9.5% 9.8% RATE-SEASONALLY ADJ. 9.7% 9.6% 9.7% 9.6% 9.7% TOTAL EMPLOYMENT 1/ LAS VEGAS MSA 2/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 10.2% 9.8% 9.8% 9.6% 9.9% TOTAL EMPLOYMENT 1/ RENO MSA 3/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 10.5% 10.1% 10.0% 9.7% 10.1% TOTAL EMPLOYMENT 1/ CARSON CITY MSA 4/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 11.2% 10.7% 10.6% 10.1% 10.7% TOTAL EMPLOYMENT 1/ ELKO MICROPOLITAN AREA 5/ TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 6.0% 5.8% 5.9% 5.6% 5.8% 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

21 2013 NEVADA LABOR FORCE SUMMARY DATA Revised May JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG CARSON CITY TOTAL LABOR FORCE 27,100 27,530 27,440 27,200 27,310 UNEMPLOYMENT 3,030 2,950 2,910 2,760 2,910 UNEMPLOYMENT RATE 11.2% 10.7% 10.6% 10.1% 10.7% TOTAL EMPLOYMENT 1/ 24,070 24,580 24,530 24,440 24,400 CHURCHILL COUNTY TOTAL LABOR FORCE 12,670 12,630 12,720 12,770 12,700 UNEMPLOYMENT 1,160 1,100 1,100 1,050 1,100 UNEMPLOYMENT RATE 9.1% 8.7% 8.7% 8.2% 8.7% TOTAL EMPLOYMENT 1/ 11,510 11,530 11,620 11,720 11,600 CLARK COUNTY TOTAL LABOR FORCE 986, , , , ,740 UNEMPLOYMENT 100,660 97,080 97,170 94,930 97,460 UNEMPLOYMENT RATE 10.2% 9.8% 9.8% 9.6% 9.9% TOTAL EMPLOYMENT 1/ 885, , , , ,280 DOUGLAS COUNTY TOTAL LABOR FORCE 20,870 21,000 20,840 20,800 20,870 UNEMPLOYMENT 2,470 2,410 2,360 2,220 2,360 UNEMPLOYMENT RATE 11.8% 11.5% 11.3% 10.7% 11.3% TOTAL EMPLOYMENT 1/ 18,400 18,590 18,480 18,580 18,510 ELKO COUNTY TOTAL LABOR FORCE 30,230 30,480 30,640 30,900 30,560 UNEMPLOYMENT 1,810 1,760 1,810 1,740 1,780 UNEMPLOYMENT RATE 6.0% 5.8% 5.9% 5.6% 5.8% TOTAL EMPLOYMENT 1/ 28,420 28,720 28,830 29,160 28,780 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.

22 2013 NEVADA LABOR FORCE SUMMARY DATA Revised May JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG ESMERALDA COUNTY TOTAL LABOR FORCE UNEMPLOYMENT UNEMPLOYMENT RATE 4.5% 4.2% 4.3% 3.5% 4.1% TOTAL EMPLOYMENT EUREKA COUNTY TOTAL LABOR FORCE 1,100 1,120 1,120 1,130 1,120 UNEMPLOYMENT UNEMPLOYMENT RATE 5.7% 6.3% 6.1% 5.6% 5.9% TOTAL EMPLOYMENT 1,040 1,050 1,050 1,070 1,050 HUMBOLDT COUNTY TOTAL LABOR FORCE 9,570 9,630 9,710 9,890 9,700 UNEMPLOYMENT UNEMPLOYMENT RATE 5.8% 5.7% 5.7% 5.4% 5.7% TOTAL EMPLOYMENT 9,010 9,080 9,160 9,360 9,150 LANDER COUNTY TOTAL LABOR FORCE 4,710 4,720 4,900 4,930 4,820 UNEMPLOYMENT UNEMPLOYMENT RATE 5.6% 5.4% 5.3% 5.2% 5.4% TOTAL EMPLOYMENT 4,450 4,470 4,640 4,670 4,560 LINCOLN COUNTY TOTAL LABOR FORCE 1,740 1,740 1,780 1,800 1,760 UNEMPLOYMENT UNEMPLOYMENT RATE 12.2% 11.8% 12.2% 11.5% 11.9% TOTAL EMPLOYMENT 1,530 1,530 1,560 1,590 1,550 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.

23 2013 NEVADA LABOR FORCE SUMMARY DATA Revised May JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG LYON COUNTY TOTAL LABOR FORCE 21,270 21,280 21,850 22,020 21,610 UNEMPLOYMENT 3,250 3,130 3,040 2,930 3,090 UNEMPLOYMENT RATE 15.3% 14.7% 13.9% 13.3% 14.3% TOTAL EMPLOYMENT 1/ 18,020 18,150 18,810 19,090 18,520 MINERAL COUNTY TOTAL LABOR FORCE 1,860 1,880 1,900 1,890 1,880 UNEMPLOYMENT UNEMPLOYMENT RATE 12.7% 12.8% 12.9% 12.4% 12.7% TOTAL EMPLOYMENT 1/ 1,620 1,640 1,650 1,650 1,640 NYE COUNTY TOTAL LABOR FORCE 17,600 17,660 17,420 17,460 17,530 UNEMPLOYMENT 2,170 2,090 2,100 2,040 2,100 UNEMPLOYMENT RATE 12.3% 11.9% 12.1% 11.7% 12.0% TOTAL EMPLOYMENT 1/ 15,430 15,570 15,320 15,420 15,430 PERSHING COUNTY TOTAL LABOR FORCE 2,730 2,720 2,880 2,900 2,800 UNEMPLOYMENT UNEMPLOYMENT RATE 11.0% 10.7% 10.3% 9.5% 10.4% TOTAL EMPLOYMENT 1/ 2,430 2,430 2,580 2,620 2,510 STOREY COUNTY TOTAL LABOR FORCE 2,130 2,130 2,100 2,090 2,110 UNEMPLOYMENT UNEMPLOYMENT RATE 12.0% 11.1% 10.8% 10.6% 11.1% TOTAL EMPLOYMENT 1/ 1,870 1,890 1,870 1,870 1,870 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.

24 2013 NEVADA LABOR FORCE SUMMARY DATA Revised May JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC AVG WASHOE COUNTY TOTAL LABOR FORCE 220, , , ,090 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 219,770 UNEMPLOYMENT 23,160 22,340 22,000 21,120 22,160 UNEMPLOYMENT RATE 10.5% 10.1% 10.0% 9.7% 10.1% TOTAL EMPLOYMENT 1/ 197, , , , ,610 WHITE PINE COUNTY TOTAL LABOR FORCE 5,610 5,640 5,540 5,600 #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! 5,600 UNEMPLOYMENT UNEMPLOYMENT RATE 7.4% 7.2% 7.3% 7.2% 7.3% TOTAL EMPLOYMENT 1/ 5,190 5,230 5,130 5,200 5,190 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.