According to the Nevada Department of Employment, Training and Rehabilitation’s January 2023 report, the total number of jobs in Nevada has passed 1.5 million jobs, up 6% year over year. The seasonally adjusted unemployment rate was unchanged from December 2022 to January 2023, sitting at 5.5%. This is the highest unemployment rate of any state.
The year-over-year employment growth reflects a continued trend in Nevada of more individuals entering the labor force, thus leading to higher employment and unemployment numbers. The state’s labor force participation rate over the year stayed quite steady over 2022 even as unemployment rose.
Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):
- Las Vegas employment increased by 4,000 jobs (0.4%) since December, an increase of 62,600 jobs (6.0%) since January 2022.
- Reno employment had an increase of 800 jobs (0.3%) since December, an increase of 11,900 jobs (4.6%) since January 2022.
- Carson City employment had an increase of 100 jobs (0.3%) since December, an increase of 1,200 jobs (3.9%) since January 2022.
“This report shows Nevada has recovered from the COVID recession and is continuing to add jobs at a brisk pace. Except for the leisure and hospitality industry, every sector of our economy employs more people than before the pandemic, and every single industry is showing growth over the past year. Our unemployment rate is high as is the total number of job openings in the state, reflecting an ongoing tight labor market,” said David Schmidt, Chief Economist.