Las Vegas' unemployment rate dropped to 4.8 percent in September, down from 5.7 percent a year earlier, according to new data from the U.S. Bureau of Labor Statistics. Despite the improvement, the metro area tied with Tucson, Arizona, for the seventh-highest jobless rate among the 56 largest metro areas in the country. Cleveland posted the lowest rate at 1.9 percent, while Fresno, California, recorded the highest at 7.3 percent. The metro-level figures are not seasonally adjusted.
Employers in the Las Vegas area added 21,800 jobs over the past year, a 1.9 percent increase, according to seasonally adjusted data from the Nevada Department of Employment, Training and Rehabilitation. Statewide, job growth accelerated slightly with gains in healthcare, business services, and construction. Locally, leisure and hospitality remained the largest industry with an estimated 302,800 workers, up 0.2 percent from a year ago. Professional and business services grew 6.3 percent to 186,600 jobs, education and health services rose 5.1 percent to 143,200, and construction increased 2.6 percent to 82,700.
Visitor volume has largely leveled off after a sizable drop last year, with 25.8 million people visiting Las Vegas through August, down just 0.1 percent from the same period in 2023. Local and national personal finances have been squeezed by higher gas prices and elevated inflation. Southern Nevada business leaders' confidence jumped significantly in the third quarter, according to UNLV's Center for Business and Economic Research, though they still expect national and local economic conditions to worsen, albeit by smaller magnitudes than the prior quarter.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
English (US)·