Economists predict state labor market will continue to improve
The chief economist for the Department of Employment, Training and Rehabilitation says Nevada’s labor market should continue to improve for the coming two years.
Bill Anderson said the forecast is the first in which they are predicting employment will surpass the state’s peak set in 2007.
The state lost about 175,000 jobs during the recession. While the total number of jobs still is some 116,000 jobs below that peak, he projected a gain of 41,000 in 2015, another 44,000 in 2016 and 49,000 in 2017, which would completely erase that deficit.
Employment in the accommodation and food services industry fell by nearly 33,000 during the recession but has steadily increased since the end of 2009, adding an estimated 9,400 jobs this year. Anderson said tourism employment should gain 12,000 jobs in 2015 and 2016 followed by another 13,000 in 2017.
Anderson said the recovery includes construction jobs, which were hardest hit in the recession. In the coming three years, he said those industries should regain a total of 26,100 jobs.
Finally, retail categories should gain 11,500 jobs through 2017 and manufacturing about 5,200 more jobs.