Las Vegas Economic Conditions: Record Setting Job Growth

Nevada’s jobless rate remained at 4 percent in May, in part because of a job growth rate that is four times the national rate, state officials reported Friday. Clark County job growth has been at least 7 percent in each of the past 12 months. The Reno and Carson City metropolitan areas are also producing new jobs at a rate much faster than the national average. Nevada’s seasonally adjusted 4 percent unemployment rate is 1.1 percentage points lower than the national average and 1.4 percentage points lower than that of California. In Clark County, the unadjusted unemployment rate in May was down two-tenths of a percentage point from April to 3.7 percent. Regular readers of this Las Vegas real estate blog are well aware of the strength of the southern Nevada economy. The market for Las Vegas homes continues to perform solidly in 2005 after a phenomenal 2004.

Comments are closed.