LAS VEGAS (KLAS) — August was the fourth month in a row that the Nevada economy regained jobs but it was at a slower pace than in previous months and the hardest hit sector remains leisure and hospitality, according to the Department of Employment, Training and Rehabilitation.
Although statewide unemployment has fallen to rates that are now below the 2007 recession’s high of nearly 14%, Las Vegas is moving at a slower pace toward recovery due to the large number of people employed in tourism-related industries.
Currently, the state unemployment rate is 13.2% compared to Las Vegas which is at 15.5%. According to DETR, there are 170,575 unemployed individuals in Las Vegas.
DETR’s August 2020 economic report shows there were 5,900 new jobs since July in Las Vegas and nearly all were in trade, transportation and utility sectors. However, there are 170,575 unemployed individuals in Las Vegas.
“The impact of COVID-19 on Las Vegas and Clark County is clear, with this area experiencing the slowest rebound in jobs and the state’s highest unemployment rate. Meanwhile, robust growth in the mining industry has driven unemployment in the Elko area back below 5%. These significant differences between the local areas of the state highlight the ongoing importance of using regional information to examine the impacts of COVID-19 on Nevada’s labor market” said David Schmidt, Chief Economist for DETR.
Reno’s unemployment rate for August was 7.2%. The lowest unemployment rate in the state was in Eureka County at 3.9%.