1. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Labor Market Briefing Department of Employment, Training & Rehabilitation Don Soderberg, Director Dennis Perea, Deputy Director Bill Anderson, Chief Economist Prepared by the Research and Analysis Bureau for Presentation to the Regional Jobs Network: March 2015

2. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency State Unemployment Rate  7.1% Unemployment Rate (SA 1 )  Up 0.1 percentage point from December; down from 8.5% a year ago  Off from a recession peak of 13.7%  Uptick from December is a “good” thing…the result of an increase in the labor force  Compares to a 5.7% rate for the U.S.—1.4 points higher  Hovering 1.3-1.5 points higher than the nation’s for the past seven months  NV’s rate was 4.4 points higher than the nation’s at the height of the recession 1 seasonally adjusted

3. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Unemployment Rate at 7.1%; Trending Down Since Late-2010 NV vs. the U.S. Unemployment Rate (SA)

4. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV’s Unemployment Rate Tied for 2 nd - Highest in the Nation in January Unemployment Rate Rankings (SA)

5. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency The Jobless Rate for the Long-Term Unemployed has Tumbled Long-Term “Unemployment Rate”

6. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Including Discouraged Workers Adds Less Than a Point to the “Official” Rate Alternative Measures Of Labor Underutilization

7. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Construction Unemployment Trending Similar to the Labor Market as a Whole “Insured” Unemployment Rate

8. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Initial Claims Continue to Hold Steady at Around Half of the Recessionary Peak Initial Claims for Unemployment Insurance

9. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Vast Majority of Recent Employment Gains have been Full-Time; Part-Time Holds Steady Full-Time vs. Part-Time Employment (12-month moving average)

10. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency State Employment (SA)  Non-Farm Job Levels Up 43,400 Relative to a Year Ago  Second-largest gain during recovery period  3.6% gain compares to 2.3% in the nation  49 consecutive months of year-over-year gains  Up 6,700 Over the Month  25,300 (NSA 2 ) jobs were expected to be lost based upon historical trends, but 18,600 were actually lost, resulting in the seasonally adjusted gain 2 not seasonally adjusted

11. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Levels Rise to Highest Reading Since October 2008; Trending up for 49 Months Nonfarm Jobs in Nevada (SA)

12. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Growth Trends up; Annual Revisions Pushed Growth up at Year-End 2014 Job Growth (SA; year-over-year)

13. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Adds Close to 100K Jobs Since 2010 Nevada Job Growth Since 2010

14. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Growth Stronger Than in 48 States QCEW Job Growth Rankings (# of states with slower private sector job growth than NV; 2014 YTD through IIQ)

15. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Gains>Losses in 15 Straight Qtrs. Business Employment Dynamics: Private Sector Gross Job Gains vs. Gross Job Losses (SA)

16. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Opening Gains>Closing Losses Business Employment Dynamics: Gross Job Gains vs. Gross Losses in New & Closing Establishments (SA)

17. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Starts Out 2015 With Broad-Based Growth in the Private Sector YTD Job Growth by Sector (year-over-year)

18. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Healthcare Under-Represented in Every County but Carson Healthcare Location Quotients (county healthcare job share/national share)

19. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency More Visitors=More Jobs Las Vegas Visitation and Leisure/Hospitality Jobs (Jan. 2005=100; 12-month moving average)

20. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Jobs up 3.5% Compared to January 2014; 2.3% Growth in the US Job Growth (year-over-year)

21. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Small Businesses Add 63K Jobs in Nevada Over Recovery Employment in Establishments with less than 100 Workers

22. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Large Employers Hit Harder by Recession in Nevada Jobs by Establishment Size; 2005:IQ=100)

23. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Number of Employers Reaches New Record; Up 14 Straight Qtrs. Number of Nevada Employers

24. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Wages Expand, But at a Relatively Subdued Pace Avg. Weekly Wage Growth; Year-Over-Year; 2014 YTD through IIIQ

25. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Levels Surpass Pre-Recessionary Peak in 2016/2017 Total Jobs: History and Forecast

26. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency By 2017, Nearly 40,000 Construction Jobs Added Since Bottoming Out Construction Jobs: History and Forecast

27. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Going Forward, Growth Expected to Strengthen for Manufacturing Jobs Manufacturing Jobs: History and Forecast

28. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Retail Trade Should Continue Adding About 4,000 Jobs Annually Retail Trade Jobs: History and Forecast

29. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Expectations are for an Additional 3,000 Healthcare Jobs per Year Healthcare/Social Assistance Jobs: History and Forecast

30. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency AFS Jobs Have Reached Historical Peak; 40K Additional Jobs Expected Accommodation/Food Services Jobs: History and Forecast

31. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency For Additional Information, Please Contact: Nevada Department of Employment, Training and Rehabilitation Research and Analysis Bureau Bill Anderson Chief Economist wdanderson@nvdetr.org Christopher Robison Supervising Economist c-robison@nvdetr.org (775) 684-0450 http://www.nevadaworkforce.com follow us on Twitter @nvlabormarket