1. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Labor Market Briefing Department of Employment, Training & Rehabilitation Dennis Perea, Interim Director Bill Anderson, Chief Economist Prepared by the Research and Analysis Bureau for Presentation to SNAPPE: September 2014

2. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency State Unemployment Rate  7.7% Unemployment Rate (SA 1 )  Unchanged from June; down from 9.9% a year ago  Off from a recession peak of 13.9%  Compares to a 6.2% rate for the U.S.—1.5 points higher  Lowest differential since August 2008  At height of recession, NV’s rate was 4+ points higher than the nation’s 1 seasonally adjusted

3. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Unemployment Rate Holds Steady at 7.7%...U.S. Rate up 0.1 Pct. Pt. to 6.2% 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 Rate is Tied for 3 rd Highest in the Nation Unemployment Rate Rankings (SA)

5. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency 54K Nevadans are Unemployed Because They Lost Their Jobs; About Half the Peak Job “Losers” in Nevada (12-month moving average)

6. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency 12K Nevadans Unemployed Because They Left Jobs Voluntarily; Encouraging Uptrend Job “Leavers” in Nevada (12-month moving average)

7. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency States Most Impacted by the Housing Bust Have Higher Unemployment Rates State Unemployment Rates vs. Housing Prices

8. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Un. Rate Falls as Ed. Attainment Rises NV Unemployment Rates by Educational Attainment: 2013

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

10. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Long-Term Unemployment Half of Peak Nevadans Unemployed for 27+ Weeks (CPS data; 12-month moving average)

11. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency FT Employment on the Rise; PT Holds Steady Full-Time vs. Part-Time Employment (CPS data; 12- month moving average)

12. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Initial Claims Less than Half of Recessionary Peak (declines in 53 of past 56 mos.) Initial Claims for Unemployment Insurance

13. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency About 30% of the Unemployed Receive UI Benefits Unemployment Ins. Recipients vs. Total Unemp. 3

14. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency State Employment (SA)  Non-Farm Job Levels Up 44,600 Relative to a Year Ago  3.8% gain compares to 1.9% in the Nation  Down 200 Over the Month  9,700 (NSA 2 ) jobs were expected to be lost based upon historical trends, but 9,900 were actually lost, resulting in the seasonally adjusted decline  First monthly decline in a year; private sector gain offset by public sector loss 2 not seasonally adjusted

15. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Adds 44,600 Jobs Relative to Year- Ago; Essentially Unchanged from June Nonfarm Jobs in Nevada (SA)

16. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Year-Over-Year Job Gains Have Been Amongst the Strongest in the Nation Job Growth (SA; year-over-year)

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

18. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Recent Job Estimates Appear to be Several Thousand too High (???) QCEW vs. CES Year-over-Year Job Growth (Private)

19. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Growth Stronger Than in 38 States QCEW Job Growth Rankings (# of states with slower private sector job growth than NV)

20. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Considerable Diversity in Nevada’s Nine Economic Development Sectors Sector Characteristics

21. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nearly All Sectors Contributing; L/H and PBS Lead the Way…+10K New Jobs YTD Job Growth by Sector

22. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Job Growth Stronger than in U.S. Since 2013 Job Growth (year-over-year)

23. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency NV Job Growth Outpaces US in Nine of Ten Super Sectors YTD Job Growth; NV minus US

24. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Gross Job Gains > Losses for 13 Consecutive Quarters Business Empl. Dynamics: Gross Job Gains/Losses

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

26. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency 51K Workers Commute into Nevada Nevada Worker Inflows and Outflows

27. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Carson City Stands Out Local Employment Dynamics: Worker Inflows/Outflows

28. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Job Prospects for NV’s Teens and Young Adults have Strengthened IIIQ Job Gains for 14-21 Year Olds

29. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Wages Expand at 3 rd -Fastest Clip During Recovery in 2014:IQ NV Avg. Weekly Wage Growth: Year-Over-Year

30. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Slight Wage Differential Between Growing/Declining Industries Wage/Emp. Trends in Growing/Declining Industries

31. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency New Hire Wages About Two-Thirds of Overall Average Average Monthly Wages

32. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Wages Rise with Age, Peaking with the 45-54 Year Old Group Average Monthly Wages by Age Group

33. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada Wages Compare Favorably NV Avg. Wages vs. U.S.: Largest Occupations

34. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Number of Employers on the Rise; Up 12 Straight Qtrs.; Barely Below Peak Number of Nevada Employers

35. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Nevada’s Economy Dominated by Small Establishments Number of Nevada Employers by Establishment Size

36. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Big Job Gain in Est. with 1,000+ Workers; Small/Mid-Size Est. also Solid 2013:IQ-2014:IQ Job Growth by Establishment Size

37. The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency Employment Expected to Continue Advancing NV Jobs: History and Forecast

38. 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 (775) 684-0450 http://www.nevadaworkforce.com follow us on Twitter @nvlabormarket