RENO - Annual adjustments to Nevada's labor market data show that job growth was stronger than initially estimated.
Specifically, job estimates increased by 9,200 from preliminary readings. As a result, 2012-2013 total non-farm job growth came in at 30,900. At the same time, revised estimates show an unemployment rate of 9.8 percent, up from a preliminary estimate of 9.4 percent. Still, this represents a decline of 1.7 percent from 2012's 11.5 percent reading, said Bill Anderson, chief economist for the Nevada Department of Employment, Training and Rehabilitation (DETR).
Nevada's non-farm employment and labor force numbers are estimated each month using a combination of historical data and current employment statistics. These estimates are revised at the beginning of each calendar year, or "benchmarked", using more complete information, Anderson said. Once a year, the Bureau of Labor Statistics adjusts the non-farm employment estimates using data from mandatory unemployment insurances reports submitted each quarter by nearly all employers.
"Looking at recent trends since 2010, Nevada has added 60,700 private-sector jobs, exceeding job growth expectations," Anderson said. "With a gain of 23,800 jobs, the Las Vegas-Paradise MSA benchmark revealed the area's economy gained more employment in 2013 than was initially estimated. This is a 2.9 percent increase year over year."
Reno-Sparks' benchmark resulted in an increase of 5,600 jobs over the year, an increase of 2.9 percent. Carson City's benchmark revealed this area's economy lost fewer jobs than initially estimated in 2013. Carson City employment still fell by an annual average of 200 jobs over-the-year, a decrease of 0.6 percent from average 2012 levels, however the benchmark put back 100 more jobs than was initially reported in 2013.
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