Las Vegas, NV (KXNT) - According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) January 2022 economic report, employment in December was 50,400 jobs higher than initially reported, with annual revisions showing Nevada much closer to pre-recession employment than originally estimated.
Since January 2021, employment is up 132,900, an increase of 10.3%. The total employment level in the state is 1,425,400, and is 24,200 jobs below its February 2020 peak.
The state’s unemployment rate in January is 5.2 percent, down from 5.3 percent in December and down 5.0 percentage points when compared to January 2021.
“I’m pleased to see Nevada’s economy was performing much better at the end of last year than we originally believed and that momentum is carrying us forward into 2022. The state continues to take huge steps forward with more jobs in Reno than before the pandemic and Las Vegas showing job gains across most of its industries. Jobs are rising, unemployment is falling, and Nevadans are finding jobs to provide for their families,” said Governor Sisolak.
Las Vegas employment increased by 2,400 jobs (0.2%) since December, an increase of 119,800 jobs (13.1%) since January 2021.
“Between the annual revisions to our employment and unemployment data and ongoing improvement from December to January, this is a very positive report. Compared to our initial estimates, Nevada added over 50,000 jobs in December, and added 2,800 more in January. While Las Vegas remains 25,000 jobs below February 2020, employment outside of casino-hotels is 6,000 jobs higher than before the pandemic. The unemployment rate in Nevada is half of what it was a year ago. From 2015-2019, the unemployment rate in Nevada averaged 5.2 percent – the same rate we see in January,” said David Schmidt, Chief Economist.