State employment expected to grow
Employment in Nevada is projected to increase by 2 percent or 23,000 jobs in 2013, and the state is expected to gain another 26,000 jobs in 2014 and 30,000 jobs in 2015, according to a report released by the Department of Employment, Training and Rehabilitation’s Research and Analysis Bureau.
However, employment will likely remain below the peak levels achieved in 2007 for several more years, said Bill Anderson, DETR’s chief economist.
“To put this in perspective, Nevada lost almost 200,000 jobs from peak to trough; 100,000 of which were construction jobs,” Anderson said. “In 2006, at peak levels of employment, construction represented 11.2 percent of the total workforce. In 2012, that share stood at 4.6 percent.”
Construction is projected to see some growth over the next few years, with a gain of 4,600 jobs in 2013.
It is expected to add 4,900 and 6,000 jobs in 2014 and 2015, respectively.
However, in 2015, construction jobs will still be 75,000 below the pre-recession peak, Anderson said.
While the state has been steadily adding jobs, a return to the construction-driven boom years is not likely, Anderson added.
In 2011, the Nevada economy created 6,800 jobs, a 0.6 percent increase.
In 2012, employment grew 1.5 percent, or 17,100 jobs.
Though job gains have accelerated, employment in the first quarter of 2013 (the most recent available quarter) is still 12 percent below the peak level attained in the second quarter of 2007, a difference of 155,000 jobs.
“Arguably, the more modest and diversified growth we expect to see going forward will leave the state better positioned to weather future economic downturns,” Anderson said.
Another industry projected to show improvement is the hospitality industry, with expected gains of 2,800 jobs in 2013, 3,900 jobs in 2014 and another 5,200 jobs in 2015.
All told, 2015 job levels are projected to stand 78,300 higher than in 2012, with contributions from nearly every sector of the economy.
For more information, visit http://www.nevadaworkforce.com.