Nevada adds jobs back in March; Unemployment rate continues to improve
CARSON CITY – According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) March 2021 economic report, employment in Nevada added back 4,700 jobs over the month as the state continues to recover. Jobs remain below typical levels, and are down 134,800 jobs since March 2020, for an annual decline of 9.4 percent. The total employment level in the state is 1,296,200. The state’s unemployment rate in March is 8.1 percent, down from 8.4 percent in February but up 1.7 percentage points when compared to March 2020.
Lincoln County’s unemployment rate is 3.2 percent an improvement over February’s mark of 4.2 percent.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
· Las Vegas employment increased by 4,400 jobs (0.5%) since February, a decrease of 126,200 jobs (-12.1%) since March 2020.
· Reno employment had an increase of 700 jobs (0.3%) since February, a decrease of 4,800 jobs (-1.9%) since March 2020.
· Carson City employment was unchanged since February, a decrease of 300 jobs (-1.0%) since March 2020.
“For the state as a whole, employment increased over the month with leisure and hospitality contributing the largest increase in employment, with the gains concentrated in the Las Vegas area, said David Schmidt, Chief Economist for DETR. “Although job growth from February to March is typical in leisure and hospitality, this month’s job growth and news about increased activity following relaxation of capacity restrictions on businesses is encouraging.
Nevada’s unemployment rate declined slightly from February’s revised level but remains above eight percent. While there is still ongoing significant disruption highly concentrated in the Las Vegas area, the state is adding jobs back in businesses that cater to tourism which indicates firms in the state may be gearing up to capture the pent up demand for travel and tourism worldwide.
“The combination of increasing activity, relaxed restrictions, increasing vaccine availability, and the return of work search requirements on unemployment claims should be reflected in increased employment and economic activity as we head into the summer, though current employment levels still remain well below pre-pandemic levels,” Schmidt said.
DETR’s report also notes that additional labor market data can be found on the department’s employment and unemployment dashboards located at www.nevadaworkforce.com.