Report: Las Vegas among nation's leaders in job growth - 8 News NOW

Report: Las Vegas among nation's leaders in job growth

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LAS VEGAS -- The Las Vegas metropolitan area experienced a 1.4 percent increase in jobs in the first quarter of 2014, one of the strongest performances among the nation’s large metros, according to a Brookings Mountain West report released Wednesday.

The report, a collaboration of UNLV and the Brookings Institution think tank, stated that Southern Nevada job growth compared favorably to the six-tenths of 1 percent employment growth among the major metro areas in the Intermountain West and two-tenths of 1 percent increase nationally.

But the number of jobs in Las Vegas remained 6 percent below its pre-recession peak. While unemployment has also fallen in the metro area to its lowest point since early 2008, it remains the highest among the other metros in the region. Brookings Mountain West defines the Intermountain West as including Arizona, Colorado, Idaho, Nevada, New Mexico and Utah.

“Las Vegas also succumbed to the national slowdown in output and experienced no change in the level of production over the quarter,” wrote the report’s authors, Kenan Fikri and Mark Muro.

“The rate of increase in house prices slowed considerably in the first three months of the year, to 2.9 percent from 5.9 percent in the previous quarter. Relative to its large metro area peers, however, this qualified as one of the strongest quarterly increases in the country.”

 

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