Nevada sees a loss of jobs; Unemployment rate increases

CARSON CITY, NV - According to the Nevada Department of Employment, Training and Rehabilitation’s (DETR) July 2024 economic report, Nevada’s unemployment rate increased by 0.2 percentage points to 5.4 percent and the state saw a decrease of 1,500 nonfarm jobs.

Metropolitan Statistical Area (MSA) Employment (Seasonally Adjusted):

o   Las Vegas employment decreased by 300 jobs (0.0%) since June, an increase of 38,100 jobs (3.4%) since July 2023.

o   Reno employment had a decrease of 300 jobs (-0.1%) since June, an increase of 4,800 jobs (1.8%) since July 2023.

o   Carson City employment had a decrease of 200 jobs (-0.6%) since June, an increase of 300 jobs (0.9%) since July 2023.

“Nevada’s labor market softened in July, as unemployment increased again and employment declined slightly over the month. This decline was concentrated in the leisure & hospitality sector, which fell by 5,000 jobs from June to July, while most other industries grew, leading to an overall decline of 1,500 jobs over the month. It is possible that this estimate was affected by the closure of the Mirage, which closed on July 17, impacting the casino hotel, food services, and casino support industries.” said David Schmidt, Chief Economist.

To see additional labor market data view the department’s employment and unemployment dashboards located at www.nevadaworkforce.com.