The global COVID-19 pandemic impacted significantly the gaming and hospitality sector a few years ago, resulting in temporary closures and unemployment. Since the start of the pandemic, to date, much has changed in Nevada. Despite the heavy hit for the gaming and hospitality industry, the sector has been on the path to recovery, resulting in more companies hiring employees and resuming normal operations.
Although the recovery from the pandemic has started, Nevada, the state that is home to the gambling capital of the world, Las Vegas, still has the highest unemployment rate out of any US state, judging by recent data. The Nevada Department of Employment, Training and Rehabilitation (DETR), released a new report last week, outlining that the unemployment rate in the state sits at 5.5% as of January 2023.
The result means that Nevada had the highest unemployment rate out of any state. On the other hand, the adjusted unemployment rate increased by 0.5% from 5.1% to 5.6%. DETR explained that “this is expected when going from one year into the next due to seasonal shifts in employment.”
Jobs in January Increase Year-Over-Year
DETR’s new report positioned Nevada as the state with the highest unemployment rate, although a year-over-year showed an increase in the number of jobs. The new figures reveal that nonfarm employment for the state in January increased by 6% or 86,300 jobs when compared to January last year.
Besides a year-over-year increase, a month-over-month comparison also marked an increase in jobs. In January, nonfarm employment in the state increased by 0.3% or 4,600 jobs when compared to December 2022.
Not unexpectedly, Las Vegas reported an increase in nonfarm employment for January this year. Overall, the gambling capital of the world reported a 3.9% increase in jobs or 62,600 jobs more when compared to January 2022. When compared to December 2022, in January, jobs in Las Vegas increased by 0.4% or 4,000 jobs.
Similarly, jobs in Reno increased by 4.6% or 11,900 jobs more in January when compared to the corresponding period in 2022. A month-over-month comparison showed that jobs in Reno increased by 0.3% or 800 from December 2022 to January 2023.
Finally, DETR revealed that Carson City jobs increased in January by 3.9% or 1,200 jobs when compared to the same period last year. From December 2022 to January 2023, Carson City reported an increase in employment of 0.3%.