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The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Labor Market Briefing Department.

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Presentation on theme: "The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Labor Market Briefing Department."— Presentation transcript:

1 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Labor Market Briefing Department of Employment. Training & Rehabilitation Don Soderberg, Director Dennis Perea, Deputy Director Bill Anderson, Chief Economist David Schmidt, Supervising Economist Prepared by the Research and Analysis Bureau for Presentation to the ESD Leadership

2 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Unemployment Rate at 7.1% for 4 th -Straight Month; Labor Force is Surging NV vs. the U.S. Unemployment Rate (SA)

3 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency No. of Long-Term Unemployed Peaked at 93,000; Currently Under 40,000 Number of Unemployed for 27+ Weeks (12-mo. avg.)

4 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Only DC has a Higher Unemployment Rate than Nevada Unemployment Rate Rankings (SA)

5 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Including Discouraged Workers Adds 0.6 Point to the “Official” Rate Alternative Measures Of Labor Underutilization

6 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Levels Surge in April; Highest Since September 2008 Nonfarm Jobs in Nevada (SA)

7 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Levels up 41,100 from Year-Ago; Growth Rebounds from February and March Job Growth (SA; year-over-year)

8 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Gains>Losses in 16 Straight Qtrs. Business Employment Dynamics: Private Sector Gross Job Gains vs. Gross Job Losses (SA)

9 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Opening Gains>Closing Losses Last 12 Qtrs. Business Employment Dynamics: Gross Job Gains vs. Gross Losses in New & Closing Establishments (SA)

10 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Close to 100K New Private Sector Jobs Over 2010-2014; Trending 39K Higher This Year Nevada Job Growth Since 2010

11 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency 9,000 Full-Time Nevada Job Postings vs. 1,100 Part-Time Ads Online Job Postings in Nevada (April info from Burning Glass/Labor Insight)

12 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Full-Time Employment Continues to Trend Up; Part-Time Remains Steady Full-Time vs. Part-Time Employment (CPS data; 12-month moving average)

13 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Job Growth Exceeds Nation in 33 Straight Months; 3.4% vs. 2.2% in April Job Growth (year-over-year)

14 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Growth 3 rd -Strongest in Nation QCEW Job Growth Rankings (# of states with slower private sector job growth than NV; 2014 YTD through IIIQ)

15 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Wages Expand for 4 th -Straight Year; Consistent Growth at Just Below 1.5% Avg. Weekly Wage Growth (Year-Over-Year)

16 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Levels Exceed Pre-Recession Peak by 97K at Year-End 2017 Total Jobs: History and Forecast

17 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency By the End of 2017, 46K Construction Jobs Added Since Bottoming Out Construction Jobs: History and Forecast

18 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Growth to Strengthen for Manufacturing Jobs; 5,100 New Jobs through 2017 Manufacturing Jobs: History and Forecast

19 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Retail Trade Should Continue Adding About 5,000 Jobs Annually Retail Trade Jobs: History and Forecast

20 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Expectations are for an Additional 4,500 Healthcare Jobs per Year Healthcare/Social Assistance Jobs: History and Forecast

21 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency AFS Jobs Have Reached Historical High; More than 40K Additional Jobs Expected Accommodation/Food Services Jobs: History and Forecast

22 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV’s Unemployment Rate Trending Down…6.6% in ‘15; 5.6% in ‘16; 5.2% in ‘17 Unemployment Rate: History and Forecast

23 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency For Additional Information, Please Contact: Nevada Department of Employment, Training and Rehabilitation Research and Analysis Bureau Bill Anderson Chief Economist wdanderson@nvdetr.org Christopher Robison Supervising Economist c-robison@nvdetr.org (775) 684-0450 http://www.nevadaworkforce.com follow us on Twitter @nvlabormarket


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