Nevada Adds Jobs in May; Unemployment Rate Falls to 4.9%

Vegas Business Digest -

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The Nevada Department of Employment, Training and Rehabilitation (DETR) released the newest May 2022 economic report. Nevada added 2,600 jobs over the month as the state continues to recover from the COVID pandemic. The leisure and hospitality industry added 2,900 jobs, followed by wholesale trade with 500 jobs.

Employment remains below typical levels, but is up 96,300 since May 2021, an annual increase of 7.1%. The total employment level in the state is 1,446,600. The state’s unemployment rate in May is 4.9%, decreased by 0.1 percentage points from 5.0% in April and decreased by 2.9 percentage points when compared to May 2021.

Credit: Nevada Department of Employment, Training and Rehabilitation (DETR)

Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):

  • Las Vegas employment increased by 4,800 jobs (0.5%) since April, an increase of 86,100 jobs (8.9%) since May 2021.
  • Reno employment had an increase of 800 jobs (0.3%) since April, an increase of 10,300 jobs (4.2%) since May 2021.
  • Carson City employment had a decrease of 200 jobs (-0.6%) since April, an increase of 1,100 jobs (3.6%) since May 2021.

Manufacturing has recovered at 108.0%, trade, transportation and utilities have a recovery of 109.2%, financial activities are at 104.1%, and education and health services are at 102.8%. Leisure and hospitality stands at 90.9% recovery of its peak. Total nonfarm employment as of May 2022 stands at a 99.8% of its pre-pandemic peak.

“This report reflects Nevada’s ongoing transition from a recovery mode to economic expansion. Most industries in the state and metropolitan areas now have more jobs than before the pandemic. For the first time, employment in the manufacturing industry in the Reno area has reached 30,000 jobs, up more than 14 percent compared to before the pandemic. The unemployment rate fell slightly, and the share of the population working or looking for work rose slightly to 60 percent,” said David Schmidt, Chief Economist.

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