Reno ends 2020 with 5% jobless rate; Vegas still in double digits

On Jan. 21, the Nevada Department of Employment, Training and Rehabilitation released its December jobs report, noting the state added back 8,200 jobs in December compared to November, a 0.6% increase, which is down 96,900 compared to December 2019.

All told, Nevada’s unemployment rate in December came in at 9.2%.
On Jan. 26, DETR released its updated submarket report, which showed that the Reno Metropolitan Statistical Area had an increase of 4,400 jobs (1.9%) from November to December, with the trade, transportation, and utilities sector growing the most by 2,900 jobs (5.5%).

Compared to December 2019, total employment saw a decrease of 9,300 jobs (-3.7%) — overall, the unemployment rate in Reno finished 2020 at 5% — that’s up from the historically low 2.8% mark it enjoyed last year.

However, when comparing the Reno MSA to the Las Vegas MSA, Northern Nevada’s largest market is doing twice as good jobs-wise, as Vegas recorded a 10.4 percent jobless rate in December, according to DETR.

It’s a trend consistent with the state’s slow economic recovery since the start of the pandemic due to Northern Nevada’s focus on diversifying the economy in recent years to have less reliance on gaming and tourism/hospitality.

The news was similar for the Carson City MSA — there, the unemployment rate came in at 5.7 percent in December 2020, down from the 3.4 percent mark from December 2019. Compared to December 2019, the professional and business services sector saw the biggest YOY decrease, with 200 fewer jobs (-8.7%).

“The three MSAs of Nevada all continue to recover jobs since last month; however, when compared to last year the recovery is more mixed,” David Schmidt, chief economist for DETR, said in a statement. “Las Vegas remains the hardest hit due to the leisure & hospitality sector still operating with limited capacity. In contrast, employment in the Reno area is only down 3.7 percent since December 2019, with Carson City in the middle.”

Other statistics highlighted in the Jan. 26 report are as follows:

• The unemployment rate in the Elko Micropolitan area was 3.5% in December 2020 compared to November 2020’s rate of 3.8% and 2.6% in December 2019.
• The Fallon area’s unemployment was 3.8% in December 2020 compared to November 2020’s rate of 4.2% and 3% in December 2019.
• The unemployment rate in Lyon County was 6% in December 2020 compared to November 2020’s rate of 6.6% and 4.1% in December 2019.
• Douglas County’s unemployment rate was 5.4% in December 2020 compared to November 2020’s rate of 6% and 3.5% in December 2019.
• The unemployment rate in Nye County was 7.2% in December 2020 compared to November 2020’s rate of 7.8% and 4.5% in December 2019.
• The unemployment rate in the Winnemucca area was 3.7% in December 2020 compared to November 2020’s rate of 4% and 2.6% in December 2019.

Go to here to view the full submarket report.