Nevada s Unemployment Rate Falls to 10.2 Percent in December

Transcription

1 For Immediate Release January 18, 2013 Nevada s Unemployment Rate Falls to 10.2 Percent in December For the month of December, Nevada saw a decline in its unemployment rate from 10.8 percent in November to 10.2 percent. This equates to 138, 800 people unemployed and it marks the lowest the rate has been since February 2009, said Bill Anderson, chief economist for Nevada s Department of Employment, Training and Rehabilitation (DETR). The rate averaged 11.6 percent for 2012, down nearly two percentage points from I'm pleased that we've ended the year on a positive note, with four straight months of decline in the unemployment rate and a gain of nearly 19,000 jobs in December compared to a year ago, but we have much more room for improvement, Governor Brian Sandoval said. For the three major population centers, Carson City s unemployment rate dropped to 10.1 percent in December, from 12.8 percent a year ago. Las Vegas rate fell to 10 percent, from 13.3 percent in December For the second month in a row, the Reno/Sparks rate was in the single-digits and is down 2.8 points from a year ago, at 9.6 percent. All major indicators suggest that Nevada ended the year on a strong note, Anderson said. Unemployment is down, job readings are up, and initial claims for unemployment insurance are trending down. Along with other factors, this gives clear indication that Nevada s economy is indeed on the mend. While improvement is slow, these are still good signs that we are heading in a positive direction. -##- More detailed information may be found in the attached Nevada Labor Market Overview and statistical data package from 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 December 2012 Within the past month, some broad measures of Nevada s economic health have been released which support recent themes in our monthly Overviews pointing to ongoing improvement in the State s labor market. The Census Bureau has released 2012 population estimates that show that Nevada is the sixth-fastest growing State in the nation. The Silver State s 1.4 percent increase (approximately 40,000) was stronger than that for each of the nine multi-state Census Regions. Prior to the recession, Nevada led the nation in growth for, essentially, two decades running. In addition, the U.S. Bureau of Economic Analysis recently published 2012:IIIQ personal income estimates. Through the first three 16% 14% 12% 10% 8% 6% 4% 2% Unemployment Rate: Nevada vs. the U.S. (seasonally adjusted) 0% NV U.S. quarters of the year, Nevada personal income was up 1.8 percent from the same period in At the height of the recession, in 2009, income declined by nearly nine percent. Unfortunately, however, so far in the recovery, growth in Nevada has lagged that for the nation as a whole. Switching to the labor market, all major indicators suggest that Nevada ended the year on a strong note. For instance, unemployment is down, job readings are up, and initial claims for unemployment insurance are trending down. Specifically, Nevada ended the year with four consecutive monthly declines in the unemployment rate. In December, the jobless rate tumbled from 10.8 percent to 10.2 percent. This marks the lowest reading since February 2009 and follows a 0.7 percentage point decline in November. Nevada s unemployment rate is still 2.4 percentage points higher than the national average, but that is the lowest differential since mid For all of 2012, the unemployment rate averaged 11.6 percent, down nearly two full percentage points from E. Third St. Carson City, Nevada (775) Fax (775)

3 Esmeralda Lander Eureka Elko Humboldt White Pine Churchill Pershing Washoe Storey Nevada Carson City Clark Douglas Mineral Lincoln Nye Lyon County Unemployment Rates (year-to-date) 0% 2% 4% 6% 8% 10% 12% 14% 16% As we ve noted previously, these labor market barometers are subject to revision during the annual benchmarking process early every calendar year. In 2011, original estimates showed that the unemployment rate averaged 13 percent. However, the benchmark revisions showed more robust labor force figures, and also increased initial estimates of the resident employment measure obtained via the monthly household survey used in calculating the jobless rate. The end result was a benchmarked unemployment rate of 13.5 percent. Although offering a guess as to what will result in this year s benchmarks is an inherently risky exercise, it would not surprise us to see the same type of revision unfold. In absolute terms, the number of unemployed came in at a seasonally adjusted 138,800 in December. A year ago, 179,700 Nevadans were counted amongst the unemployed. One thing that has become evident in recent years is that Nevada s economic fundamentals are very much influenced by trends beyond our borders in the nation and in the international arena. Recent improvement in Nevada s labor markets has unfolded in the midst of similar improvement at the national level. A number of structural indicators are pointing to improvement nationwide. For instance, after tumbling during the recession, the number of individuals nationwide able to maintain their employment from month-to-month is on the rise. At the height of the recession, about 132 million Americans maintained their employment from month-to-month, based upon survey results. This measure has been on the upswing since 2010, and currently stands at million. For all of 2012, the unemployment rate declined in each of Nevada s 17 counties compared to (As an aside, sub-state information will be subject to the same benchmarking process as the Statewide data discussed above.) Four counties-- Storey, Nye, Lyon, and Clark-- recorded declines in excess of two percentage points.

4 jobs 25,000 20,000 15,000 10,000 5, ,000-10,000-15,000 Nevada Nonfarm Job Growth (seasonally adjusted; year-over-year) J F M A M J J A S O N D J F M A M J J A S O N D Jobs Pct. Change As for December results in the State s three major population centers, Carson City is home to the highest jobless rate, 10.1 percent. 1 Las Vegas rate is ten percent. For the second month in a row, the Reno/Sparks metro area is home to a single-digit unemployment rate, 9.6 percent. All three regions recorded a month-over-month decline. The news on the employment front also impressed at year-end. At a seasonally adjusted 1.15 million in Nevada and Sub-State Nonfarm Jobs: Nov. - Dec. Change Expected Seasonally Unadjusted Seasonal Adjusted Change Movement Change Total Nonfarm Jobs ,100 2,000 Private Sector ,700 2,100 Public Sector Las Vegas 2,300-2,000 4,300 Reno Carson City 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 9.8 percent in December, down from 10.2 percent in November and 12.9 percent in December December, nonagricultural job readings in Nevada stand 18,700 higher than a 3% year ago. This is the strongest such increase for 2% all of December results exceeded 1% expectations. Based upon 0% historical trends, we would have expected a loss of -1% 2,100 jobs in December, relative to November. However, in 2012, the decline was just 100. The end result is a November- December increase of 2,000, seasonally adjusted. In fact, a seasonally adjusted monthly gain was recorded in each of the final four months of the year. percent change For all of 2012, job readings were up 9,300 compared to the prior year (11,900 in the private sector). However, just as with the unemployment rate, our job numbers will be revisited and revised in the upcoming benchmarking process. Original estimates for 2011 showed a year-over-year gain of 2,100. After benchmark revisions, that increase came in at 7,800. As discussed previously, our expectations are for the original 2012 estimates to be adjusted upward, based upon available information from the Quarterly Census of Employment and Wages (QCEW) Program through the first half of This series provides a complete count of employment based upon information provided by employers participating in the

5 Unemployment Insurance System. The QCEW allows us to assess employment trends with the utmost of confidence and offers a way to assess Nevada s progress through the recovery to date. In 2010, private sector jobs in Nevada totaled 958,000. By 2011, job counts had risen to 970,000, an increase of 12,000 jobs. Through the first half of 2012 (the latest available information), job readings were trending another 17,000 higher than a year ago. So, it appears that Nevada is on its way to having added 25,000-30,000 jobs over the period. As the State s job growth has rebounded, Nevada has moved up the job growth rankings. Prior to the recession, Nevada led the nation in terms of private sector job growth. At the height of the downturn, Nevada was home to the most pronounced job losses in the nation in both 2009 and Since then, we have started to make up lost ground. The 1.7 percent increase in private sector jobs during the first half of 2012 in the Silver State was stronger than growth in 17 other states. So, improvement is evident, but much ground is left to be made up. As for the State s metro areas, Las Vegas led the way with a seasonally adjusted gain of 4,300 jobs in December. The region ended the year with three consecutive seasonally adjusted gains. Employment is up 15,600 relative to December For all of Nevada Las Vegas Reno Carson City 2012, the region saw employment increase 6,400. While Reno/Sparks employment levels stand 3,000 above a year ago in December, underlying trends were somewhat weak. Whereas 500 new jobs were expected relative to November, based upon normal seasonal patterns, there was actually a decline of 100. The end result is a seasonally adjusted loss of 600 relative to November. Average monthly job levels throughout 2012 were up about 500 compared to the prior year. Trends in Carson City at year-end are similar to those evident throughout 2012, and can best be described as flat. Employment was unchanged over the month in December and off by just 100 from a year ago. For all of 2012, employment was down 800 relative to Once again, the leisure/hospitality industry leads the way in December. In fact, throughout the entire year, job readings in the State s largest industry (in terms of employment) are up 6,100 compared to 2011, a Metro Area Nonfarm Job Growth (year-to-date; year-over-year) -2, ,000 4,000 6,000 8,000 10,000

6 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 result entirely consistent with the well-publicized on-going gains in Las Vegas visitor numbers, which have been on the rise since mid This month, we examine Nevada s share of direct (casino hotels and gambling) gaming jobs nationwide. Available evidence shows that Nevada accounted for percent of all gaming jobs over the past four years, down from a 35+ percent share in the middle part of the 2000s. Some of the decline is certainly structural in nature, and reflects the spread of gaming beyond Nevada s borders. Some of the drop may also reflect the cyclical impacts of the recession. Those in search of gaming-related entertainment during the downturn may have elected to do so at non-nevada venues as a possible cost-saving measure. Over the past few months, we have been monitoring seasonal hiring in the retail trade industry. October, November, and December retail trade job gains exceeded expectations. When all is said and done, retail trade employment increased by 9,100 over the September- December period, very similar to holiday-related seasonal hiring patterns prior to the recession. Previously, we have provided evidence of an uptick in construction activity, especially as it pertains to the residential market, although recent gains are coming off of historical lows. Construction job readings, although still sluggish (specifically, they are off by about 100,000 from peak readings), ended the year with two consecutive months of seasonally adjusted job gains. On a related note, the third quarter of 2012 brought with it further easing on the foreclosure front. Statewide, the number of new mortgages entering the foreclosure process totaled nearly 5,200 over the July- September period, the lowest level of new activity in more than five years. The total inventory of foreclosed mortgages eased for the seventh consecutive quarter. While public sector job levels have declined in recent years, some signs of stability have emerged over the course of the past several months. In December, total public sector payrolls, at 148,100, seasonally adjusted, in Nevada, stand 1,600 higher than year-end 2011.

7 Employment & Unemployment Estimates for December 2012 Unemployment Rates: Nevada Statewide 10.2% (Seasonally Adjusted) Las Vegas-Paradise MSA 10.0% Reno-Sparks MSA 9.6% Carson City MSA 10.1% Elko Micropolitan Area 5.2% United States 7.8% (Seasonally Adjusted) California (Nov) 9.8% (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 DEC 2012 DEC 2011 CHANGE % CHANGE NOV 2012 NEVADA STATEWIDE Seasonally Adjusted TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 10.2% 13.0% % TOTAL EMPLOYMENT 1/ % NEVADA STATEWIDE TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 9.8% 12.9% % TOTAL EMPLOYMENT 1/ % Las Vegas-Paradise MSA Includes Clark County TOTAL LABOR FORCE % UNEMPLOYMENT % UNEMPLOYMENT RATE 10.0% 13.3% % TOTAL EMPLOYMENT 1/ % Reno-Sparks MSA Carson City MSA Includes Washoe and Storey Counties TOTAL LABOR FORCE % UNEMPLOYMENT % 22.2 UNEMPLOYMENT RATE 9.6% 12.4% % TOTAL EMPLOYMENT 1/ % TOTAL LABOR FORCE % 27.2 UNEMPLOYMENT % 2.8 UNEMPLOYMENT RATE 10.1% 12.8% % TOTAL EMPLOYMENT 1/ % 24.4 Elko Micropolitan Area Includes Elko and Eureka Counties TOTAL LABOR FORCE % 31.6 UNEMPLOYMENT % 1.7 UNEMPLOYMENT RATE 5.2% 6.4% % TOTAL EMPLOYMENT 1/ % 29.9 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) DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Natural Resources & Mining % 16.2 Construction % 49.2 Manufacturing % 37.4 Durable Goods % 23.5 Non-durable Goods % 13.9 Trade, Transportation & Utilities % Wholesale % 35.7 Retail % Transportation, Warehousing & Utilities % 52.4 Financial Activities % 52.5 Finance and Insurance % 30.2 Real Estate & Rental Leasing % 22.3 Professional & Business Services % Professional, Scientific and Technical % 50.3 Management of Companies % 17.7 Administrative & Support and Waste Mgt % 73.5 Education and Health Services % Educational Services % 10.5 Health Care and Social Assistance % 98.6 Leisure and Hospitality % Arts, Entertainment and Recreation % 27.3 Accommodation and Food Service % Other Services % 34.1 Government % Federal % 17.9 State % 36.5 Local % 93.8 Las Vegas-Paradise MSA DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Reno/Sparks MSA DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Carson City MSA DEC 2012 DEC 2011 CHANGE % CHANGE NOV % 27.7

10 Nevada Statewide (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Goods Producing % Natural Resources & Mining % 16.3 Metal Ore Mining % 12.3 Construction % 49.9 Specialty Trade Contractors % 34.8 Manufacturing % 37.2 Durable Goods % 23.4 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 % 35.8 Retail % General Merchandise & Clothing % 52.1 Food & Beverage Stores % 20.4 Health and Personal Care Stores % 7.7 Transportation, Warehousing & Utilities % 53.3 Utilities % 4.3 Transportation & Warehousing % 49.0 Trucking, Couriers/Messengers, and % 21.1 Air % 6.1 Transit and Ground Passenger % 14.6 Taxi and Limousine Service % 10.3 Information % 12.7 Telecommunications % 4.3 Financial Activities % 52.6 Finance and Insurance % 30.2 Credit Intermediation & Related % 16.6 Real Estate & Rental Leasing % 22.4 Professional & Business Services % Professional, Scientific and Technical % 50.0 Management of Companies % 17.6 Administrative & Support and Waste Mgt % 74.8 Administrative & Support Services % 68.1 Employment Services % 18.6 Education and Health Services % Educational Services % 10.4 Health Care and Social Assistance % 98.3 Ambulatory Health Care Services % 44.4 Hospitals % 25.2 Leisure and Hospitality % Arts, Entertainment and Recreation % 26.7 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 10.7 Food Services and Drinking Places % Full-Service Restaurants % 50.8 Limited-Service Restaurants % 39.3 Other Services % 34.1 Government % Federal % 17.7 State % 38.0 Local % 94.8 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.

11 Las Vegas-Paradise MSA Includes Clark County (Estimates In Thousands) ESTABLISHMENT BASED INDUSTRIAL EMPLOYMENT DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Goods Producing % 54.8 Natural Resources & Mining % 0.3 Construction % 34.8 Construction of Buildings % 4.8 Specialty Trade Contractors % 24.4 Building Foundation & Exterior Contractors % 4.2 Building Finishing Contractors % 6.4 Manufacturing % 19.7 Durable Goods % 11.5 Other Miscellaneous Manufacturing % 4.6 Non-durable Goods % 8.2 Services Producing % Private Service Providing % Trade, Transportion & Utilites % Wholesale % 23.1 Retail % General Merchandise & Clothing % 39.9 Food & Beverage Stores % 14.7 Health and Personal Care Stores % 6.4 Trans, Warehousing & Utilities % 36.0 Utilities % 2.8 Transportation & Warehousing % 33.2 Air % 5.5 Transit and Ground Passenger % 12.9 Taxi and Limousine Service % 9.9 Information % 9.2 Telecomunications % 3.3 Financial Activites % 38.6 Finance and Insurance % 21.3 Credit Intermediation & Related % 12.4 Real Estate and Rental and Leasing % 17.3 Professional & Business Services % Professional, Scientific and Technical % 33.3 Management of Companies % 14.7 Administrative & Support and Waste Mgt % 53.3 Administative and Support Services % 50.3 Employment Services % 11.3 Other Support Services % 7.2 Education and Health Services % 75.8 Health Care and Social Assistance % 67.1 Ambulatory Health Care Services % 32.1 Hospitals % 16.4 Leisure and Hospitality % Arts, Entertainment and Recreation % 16.6 Accommodation and Food Service % Accommodation % Casino Hotels and Gaming % Casino Hotels % Gaming Industries % 5.2 Food Services and Drinking Places % 81.6 Full-Service Restaurants % 42.5 Limited-Service Restaurants % 29.5 Other Services % 24.4 Government % 94.7 Federal % 12.2 State % 18.4 Local % 64.1 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 DEC 2012 DEC 2011 CHANGE % CHANGE NOV % Goods Producing % 19.9 Natural Resources & Mining % 0.4 Construction % 8.4 Manufacturing % 11.1 Miscellaneous Manufacturing % 2.7 Services Producing % Private Service Producing % Trade, Transportion & Utilites % 44.8 Wholesale % 9.1 Retail % 23.0 General Merchandise & Clothing % 7.9 Food & Beverage Stores % 3.3 Trans, Warehousing & Utilities % 12.7 Information % 2.2 Financial Activites % 8.8 Finance and Insurance % 5.5 Professional & Business Services % 25.4 Administrative & Support and Waste Mgt % 12.6 Education and Health Services % 22.7 Leisure and Hospitality % 36.7 Accommodation and Food Service % 28.8 Accommodation % 15.1 Casino Hotels % 14.3 Food Services and Drinking Places % 13.7 Other Services % 6.2 Government % 28.4 Federal % 3.5 State % 10.3 Local % 14.6 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 DEC 2012 DEC 2011 CHANGE % CHANGE NOV % 27.8 Goods Producing % 2.8 Manufacturing % 2.3 Services Producing % 25.0 Private Service Producing % 15.1 Trade, Transportion & Utilites % 3.8 Retail % 2.9 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 Nevada Balance of State Fourth Quarter Labor Force Summary County County CARSON CITY LINCOLN TOTAL LABOR FORCE 27,880 27,773 TOTAL LABOR FORCE 1,830 1,697 UNEMPLOYMENT 3,220 3,497 UNEMPLOYMENT UNEMPLOYMENT RATE 11.5% 12.6% UNEMPLOYMENT RATE 12.8% 13.6% TOTAL EMPLOYMENT 24,660 24,277 TOTAL EMPLOYMENT 1,597 1,467 CHURCHILL LYON TOTAL LABOR FORCE 13,570 12,910 TOTAL LABOR FORCE 22,887 22,200 UNEMPLOYMENT 1,313 1,393 UNEMPLOYMENT 3,407 3,813 UNEMPLOYMENT RATE 9.7% 10.8% UNEMPLOYMENT RATE 14.9% 17.2% TOTAL EMPLOYMENT 12,257 11,517 TOTAL EMPLOYMENT 19,480 18,387 DOUGLAS MINERAL TOTAL LABOR FORCE 22,023 21,373 TOTAL LABOR FORCE 2,050 2,280 UNEMPLOYMENT 2,657 2,993 UNEMPLOYMENT UNEMPLOYMENT RATE 12.1% 14.0% UNEMPLOYMENT RATE 13.8% 14.2% TOTAL EMPLOYMENT 19,367 18,380 TOTAL EMPLOYMENT 1,767 1,957 ELKO TOTAL LABOR FORCE 31,543 28,360 TOTAL LABOR FORCE 17,783 17,363 UNEMPLOYMENT 1,910 2,077 UNEMPLOYMENT 2,587 2,947 UNEMPLOYMENT RATE 6.1% 7.3% UNEMPLOYMENT RATE 14.5% 17.0% TOTAL EMPLOYMENT 29,633 26,283 TOTAL EMPLOYMENT 15,197 14,417 ESMERALDA NYE PERSHING TOTAL LABOR FORCE TOTAL LABOR FORCE 2,910 2,637 UNEMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE 5.4% 7.2% UNEMPLOYMENT RATE 10.3% 11.8% TOTAL EMPLOYMENT TOTAL EMPLOYMENT 2,610 2,327 EUREKA STOREY TOTAL LABOR FORCE 1, TOTAL LABOR FORCE 2,163 2,360 UNEMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE 6.5% 7.2% UNEMPLOYMENT RATE 10.8% 12.6% TOTAL EMPLOYMENT 1, TOTAL EMPLOYMENT 1,930 2,063 HUMBOLDT WASHOE TOTAL LABOR FORCE 9,930 9,277 TOTAL LABOR FORCE 220, ,733 UNEMPLOYMENT UNEMPLOYMENT 25,313 27,470 UNEMPLOYMENT RATE 6.4% 8.2% UNEMPLOYMENT RATE 11.5% 12.9% TOTAL EMPLOYMENT 9,293 8,520 TOTAL EMPLOYMENT 195, ,263 LANDER WHITE PINE TOTAL LABOR FORCE 4,740 4,277 TOTAL LABOR FORCE 6,097 5,293 UNEMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE 5.5% 6.2% UNEMPLOYMENT RATE 7.1% 8.6% TOTAL EMPLOYMENT 4,480 4,013 TOTAL EMPLOYMENT 5,663 4,837 Total employment figures adjusted by census relationships To reflect number of persons by place of residence. Unemployment rates are based on unrounded numbers. Data may not add due to rounding. Information compiled by DETR's Reseach & Analysis Bureau

15 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 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 Jan-13

16 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. Jan-13

17 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 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. Jan-13

18 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. Jan-13

19 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. Jan-13 Information compiled by DETR's Reseach & Analysis Bureau

20 2012 NEVADA LABOR FORCE SUMMARY DATA Estimates In Thousands Revised January 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% 9.8% 11.6% 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% 10.2% 11.7% 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% 10.0% 11.8% 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% 9.6% 11.4% 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% 10.4% 10.1% 11.6% 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% 5.2% 6.1% 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 2012 NEVADA LABOR FORCE SUMMARY DATA Revised January 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 27,200 27,080 27,750 UNEMPLOYMENT 3,750 3,550 3,460 3,270 3,240 3,290 3,420 3,220 3,020 2,960 2,820 2,730 3,230 UNEMPLOYMENT RATE 13.5% 12.6% 12.4% 11.8% 11.6% 11.7% 12.2% 11.5% 10.9% 10.7% 10.4% 10.1% 11.6% TOTAL EMPLOYMENT 1/ 24,100 24,490 24,490 24,390 24,620 24,800 24,660 24,780 24,540 24,590 24,380 24,350 24,520 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 12,970 12,680 13,220 UNEMPLOYMENT 1,390 1,300 1,270 1,230 1,260 1,300 1,410 1,330 1,200 1,210 1,130 1,060 1,260 UNEMPLOYMENT RATE 10.9% 10.1% 9.7% 9.4% 9.4% 9.5% 10.4% 9.8% 8.9% 9.0% 8.7% 8.3% 9.5% 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 11,620 11,960 CLARK COUNTY TOTAL LABOR FORCE 983, , , , , , , , , , , , ,940 UNEMPLOYMENT 127, , , , , , , , , , ,260 96, ,240 UNEMPLOYMENT RATE 13.0% 12.2% 12.0% 11.6% 11.8% 12.2% 12.9% 12.3% 11.5% 11.1% 10.4% 10.0% 11.8% TOTAL EMPLOYMENT 1/ 855, , , , , , , , , , , , ,700 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 20,730 20,420 21,530 UNEMPLOYMENT 3,160 2,970 2,890 2,710 2,790 2,760 2,830 2,660 2,480 2,450 2,330 2,220 2,690 UNEMPLOYMENT RATE 14.8% 13.8% 13.4% 12.7% 12.8% 12.4% 12.7% 12.0% 11.4% 11.5% 11.3% 10.9% 12.5% 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 18,200 18,840 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 30,000 30,420 UNEMPLOYMENT 2,140 1,940 1,960 1,860 1,850 1,970 2,090 1,910 1,730 1,700 1,610 1,580 1,860 UNEMPLOYMENT RATE 7.5% 6.7% 6.6% 6.3% 6.1% 6.3% 6.7% 6.0% 5.5% 5.4% 5.3% 5.3% 6.1% TOTAL EMPLOYMENT 1/ 26,490 27,210 27,480 27,680 28,740 29,510 29,290 30,040 29,570 29,490 28,810 28,420 28,560 Note: Unemployment rates are based on unrounded data. 1/ Adjusted by census relationships to reflect number of persons by place of residence.