Nevada’s attractive labor market and positive broad economic conditions continue to generate nation-leading job growth for the Silver State. The state recorded 2.7 percent year-over-year job growth in September 2017, adding 36,100 jobs over the prior year. Although the growth rate represents a four-year low, it more than doubled the national rate of 1.3 percent and ranked first among all states. In fact, job growth in Nevada has ranked first nationally for four consecutive months and has placed no lower than third in 2017. At the regional level, the Las Vegas metropolitan statistical area (2.4 percent) and the Reno metropolitan statistical area (1.9 percent) both exceeded the national job growth rate.
While statewide job growth exceeds national levels, the unemployment rate remains elevated compared to the United States. In September, Nevada’s unemployment rate was 5.0 percent compared to the national figure of 4.1 percent. Over the past 12 months, Nevada’s figure has fallen by 0.4 percentage points, and the United States number has dipped by 0.7 percent. This is a sign of greater underlying growth in Nevada’s labor force as the economy attracts residents reentering the workforce and new residents moving into the state to pursue employment opportunities.
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