Annual adjustments to Nevada’s labor market data show that job growth statewide was stronger than initially estimated. Specifically, job estimates increased statewide by 9,200 from preliminary readings, the Nevada Department of Employment, Training and Rehabilitation announced Thursday.
Carson City’s benchmark revealed the area’s economy lost fewer jobs than initially estimated in 2013. Carson City employment still fell by an annual average of 200 jobs over-the-year, a decrease of 0.6 percent from average 2012 levels, however the benchmark put back 100 more jobs than was initially reported in 2013.
Revised estimates show a statewide unemployment rate of 9.8 percent, up from a preliminary estimate of 9.4 percent. Still, this represents a decline of 1.7 percent from 2012’s 11.5 percent reading, said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation (DETR).
Nevada’s non-farm employment and labor force numbers are estimated each month using a combination of historical data and current employment statistics. These estimates are revised at the beginning of each calendar year, or “benchmarked” using more complete information, Anderson said.
Once a year, the Bureau of Labor Statistics adjusts the non-farm employment estimates using data from mandatory unemployment insurances reports submitted each quarter by nearly all employers.
“Looking at recent trends since 2010, Nevada has added 60,700 private-sector jobs, exceeding job growth expectations,” Anderson said. “With a gain of 23,800 jobs, the Las Vegas-Paradise MSA benchmark revealed
the area’s economy gained more employment in 2013 than was initially estimated. This is a 2.9 percent increase year over year.”
Reno-Sparks’ benchmark resulted in an increase of 5,600 jobs over the year, an increase of 2.9 percent.