Nevada’s unemployment rate fell to 7.6% in August, its lowest level since August 2008. The construction industry continues to lead the way in job growth, with employment in the industry increasing by 12.8% during the last year, according to the August monthly employment report from the Nevada Department of Employment, Training and Rehabilitation (DETR).
Construction has added 7,200 jobs since August 2013, though growth was relatively flat in August 2014. The construction industry’s rate of job growth in Nevada far outpaces that of any other industry in the state and of the construction industry nationally.
Employment in construction in Nevada is up 11% since the beginning of the year, 7.7 percentage points higher than in the country overall, according to the DETR report. The 12.8% growth in the last twelve months is 6 points higher than that of the 2nd-leading industry in Nevada, professional and businesses services.
Specialty Trade Contractors in the state added 700 jobs in August. Employment in this subsector is up just 100 since August of 2013.
In Clark County, the construction industry lost 200 during August but employment increased by 900 over the last year. The County’s Specialty Trade Contractors lost 1700 jobs in the last year but added 300 in August.
Washoe and Storey Counties added a total of 200 construction jobs during August. Employment is up 600 in the industry in that area.
Statewide and industry employment numbers are seasonally-adjusted while county and subsector figures are not seasonally-adjusted.
Overall the state gained 300 jobs on a seasonally-adjusted basis in August. Nevada’s unemployment rate has fallen 2.2 percentage points in the last year. The rate has either declined or stayed the same every month since July 2011 and the state has added jobs on a year-over-year basis for 44 consecutive months, according to DETR.