Nevada is fighting back to innovate, diversify and regain jobs lost during the recession. Indeed, the Nevada job market showed signs of improvement in the second half of 2011 and into 2012. Complementing the Silver State's strengths in mining and the gaming industry, banking, hotel, small manufacturing and service-related businesses are helping to fuel the state's economic growth and create jobs for its 1.4 million workers.
Nevada Job Opportunities
Nevada is renowned for the neon lights and nonstop entertainment of Las Vegas. It also offers a variety of outdoor activities, furthering its reliance on tourism. Nevada is working to diversify its economy into renewable energy, manufacturing, business and finance, and biotechnology.
The leisure and hospitality industry accounts for nearly 30 percent of jobs in Nevada, followed by the trade, transportation and utilities sector. Both industries have been adding jobs in 2012, while government, financial activities, manufacturing and construction continue to report some employment declines.
Nevada Employment Trends
Nevada's job conditions reflect the state's vulnerability to the fluctuating tourism and real estate markets. The state's unemployment rate surged to 14 percent in late 2010 and didn't drop below 13 percent until early 2012. Despite some declines in mid-2011, Nevada payrolls showed mild expansion in 2011 and into early 2012. Online hiring reported positive momentum in late 2011.
Employment in Nevada should increase 2.3 percent between Q2 2012 and Q2 2013, 1 percent more than the growth expected in the US job supply during that time, Moody's Analytics forecasts.