Business is booming in Southern Nevada as Las Vegas sits among the top three metro areas for job creation in the country in January, according to a new report by Bloomberg. The other two cities at the top are Memphis and Sacramento.
According to the principal analyst for Applied Analysis, Jeremy Aguero, the Las Vegas valley’s job growth has been relatively strong for the past 5 years. It’s right above 3 percent per year which is about double what’s been seeing in terms of the national average.
“Right now in southern Nevada we have more job openings than we have people to actually take those jobs,” said Aguero.
According to Aguero, this is a good sign that the Las Vegas economy is strong!
In January, there were 3,400 new jobs created in southern Nevada, and in 2018 alone, close to 33,000 jobs were created.
“The number one reason that people are moving to southern Nevada is to find a job,” Aguero said.
Those jobs are not just in hotels and casinos.
“As a matter of fact we are seeing growth in business and professional services a lot of growth in construction-related activities; a lot of growth in health care and related industries,” Aguero said.
In a statement, UNLV Economy Professor Stephen Miller confirmed that growth, but he also said that there were decreases in taxi and limo services.
“Right now we’ve added 30,000 jobs over the past 12 months,” said Aguero. “I expect almost the same within the next 12 months.”
Especially, with projects like the Las Vegas Convention Center expansion, Resorts World, and road projects.
Ricardo Hernandez works at a local call center, and he hopes the boom will continue for years to come.
“Now fast forward here 10 years later with the Raiders coming in you’ve got people moving to Las Vegas, and job economy is growing,” said Hernandez.
“Housing [in southern Nevada] remains more affordable than it is in California,” Aguero said. “Wages have been increasing relatively well, and the American dream still exists in Southern Nevada. I don’t think you can say that for a whole lot of markets.”
Las Vegas isn’t the only city in Nevada reporting an increase in job creation. In January, Reno added 1,000 new jobs to the area.
Five-hundred jobs were added in Carson City.