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Thursday, March 20, 2014

Nevada Leads U.S. in Job Creation, No Longer Tops Nation in Unemployment

Indicators continue to point to a sustained economic recovery in Nevada, including increased stability in the job market.  According to the state Department of Employment, Nevada led the nation in job formation year of year in January with a 3.4 percent growth rate (compared to a national average of 1.7 percent).  Although we are still far from peak employment levels of the past, Nevada has dropped out of the No. 1 position for unemployment in December and January. This is the first time in almost 4 years that Nevada has escaped the top spot for two straight months.
The number of jobs statewide exceeded the 1.2 million mark in January for the first time since 2008.  The leisure and hospitality "super sector" on its own added nearly 12,000 statewide positions year over year in January, which is largely attributed to positive development on the Strip.  Experts predict that unemployment will continue to decline throughout 2014 with a possibility of reaching the low 7 percent range by year's end.

Read more at the LVRJ article:

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