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About half of jobs lost in Nevada due to coronavirus shutdown have returned, state says

Virus Outbreak Nevada
Posted at 11:22 AM, Jul 21, 2020

LAS VEGAS (KTNV) — Nevada's employment department says about half of the jobs lost during the statewide shutdown have returned following its partial reopening.

The state moved into Phase 2 of Gov. Steve Sisolak's "Nevada United: Roadmap to Recovery" reopening plan in May, allowing businesses like salons and gyms to reopen, after nonessential businesses in the state were ordered to shut down in mid-March.

Below is the Department of Employment, Training and Rehabilitation’s (DETR) June 2020 economic report findings.

STORIES RELATED TO DETR:

DETR'S JUNE 2020 ECONOMIC REPORT

According to DETR, since May, all three Metropolitan Statistical Areas (MSA) experienced positive growth rates as some of the largest sectors of the Nevada economy partly reopened.

Much of the reopening was driven by the Las Vegas MSA which grew by 8.7 percent, Reno regained 4.6 percent, and Carson City by 2.9 percent, unadjusted.

Leisure and hospitality accounted for the largest portion of reopening in these areas.

YEAR-TO-YEAR OUTLOOK

Statewide jobs decreased by 10.5 percent since June 2019.

In the MSAs Las Vegas MSA declined by 14.2 percent, Reno MSA by 7.5 percent, and Carson City MSA by 8.4 percent.

These estimates are seasonally adjusted to account for expected trends seen from seasonal patterns in the economy.

These declines are the result of the closures resulting from the COVID-19 outbreak and are much smaller than decreases in previous months, as the economy has reopened approximately half of the jobs that had closed.

UNEMPLOYMENT RATE

The state’s June seasonally adjusted unemployment rate was 15 percent and the unadjusted rate was 15.2 both down from an adjusted and unadjusted high of 30 percent in April.

All three MSAs experienced decreases in unemployment.

The Las Vegas MSA had an unemployment rate of 18 percent in June down from a high of 34 percent in April. In the Reno MSA, the unemployment rate was 8.6 percent in June down from an April high of 20.4 percent, and the Carson MSA has an unemployment rate of 8.4 percent in June down from a high of 21.1 percent in April, non-adjusted.

Chief economist for DETR, David Schmidt, said in a statement:

The month’s numbers reflect the significant impact of COVID-19 restrictions on employment and unemployment in the state and the rapid change we should expect once those restrictions can be safely lifted. While encouraging, it is important to remember that conditions have changed since the middle of June, and the evolving public health landscape and necessary restrictions may continue to impact Nevada’s labor market for several months to come.