Nevada Private Sector Employment Surpasses Pre-Pandemic Peak

Vegas Business Digest -

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According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) April 2022 economic report, Nevada added 5,200 jobs over the month as the state continues to recover from the COVID-19 pandemic. Employment remains below typical levels, but is up by 107,100 jobs since April 2021, an annual increase of 8.0%. The state’s unemployment rate in April is 5.0%, unchanged from March and is down by 3.6% when compared to April 2021.

Credit: Nevada Department of Employment, Training and Rehabilitation

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

  • Las Vegas employment increased by 1,900 jobs (0.2%) since March, an increase of 81,700 jobs (8.5%) since April 2021.
  • Reno employment had an increase of 700 jobs (0.3%) since March, an increase of 9,800 jobs (4.0%) since April 2021.
  • Carson City employment had an increase of 300 jobs (1.0%) since March, an increase of 1,300 jobs (4.3%) since April 2021.

Construction, manufacturing, trade, transportation and utilities, financial activities, and education and health services have all recovered over 100% of their pre-pandemic employment levels. Conversely, leisure and hospitality has yet to fully recover and stands at 90.5% of its pre-pandemic employment level peak. Total nonfarm employment as of April 2022 stands at a 99.7% of its pre-pandemic peak. However, private sector employment in the state has fully recovered this month, led by Nevada’s businesses.

“In April, Nevada’s labor market continues to improve with private sector employment fully recovering this month, led by Nevada’s businesses. Total statewide employment continues to close in on its pre-pandemic peak as the public sector is yet to see a full recovery. Las Vegas saw the fastest job growth in the state over the year, and all three metro areas added jobs over the month. The unemployment rate, while higher than other states, is relatively low and is trending down. Claims for unemployment benefits continue to remain at multi-decade lows this month. While the labor market still has room to improve, it continues to remain tight and trend in a positive direction,” said David Schmidt, Chief Economist.

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