The Elko County economy remained in a general state of stability through the early part of the year, with some recent pullback in the labor market.

Employment dipped to 24,888 in April 2022, a 5.5 percent decline compared to the prior year, while the labor force shrank by 7.1 percent over the year. The combination of these trends over the year improved the county’s unemployment rate from 4.1 percent to 2.5 percent, though the most recent number did rise slightly from the 2.2 percent in the prior month. Overall, Elko County’s unemployment rate ranked as the fourth-lowest in the state and was significantly lower than the 4.5 percent statewide rate.

Measures of consumer spending remained at or near record high levels in Elko County. Taxable retail sales leapt 7.9 percent over the year to $173.4 million in March 2022, the second-highest single-month total recorded and the highest monthly total since 2010. On a trailing 12-month basis, taxable sales reached $1.84 billion, setting a record high for the 13th consecutive month. Gross gaming revenues reflected a similar trend. Revenue in April 2022 dipped from the all-time record set the month earlier but still reached the fourth-highest monthly total at $33.6 million. On a trailing 12-month basis, gross gaming revenue climbed to an all-time high of $378.8 million.

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