September 16, 2022
United States Employment Situation
Bureau of Labor Statistics (BLS) data for the 50 states and DC released at 10:00am on September 16, 2022In August, unemployment fell in 7 states, rose in 32, and remained unchanged in 12.
The highest unemployment rate was 5.1 percent in District of Columbia. The lowest unemployment rate was 1.9 percent in Minnesota. Nationally, the unemployment rate rose by 0.2 percentage point to 3.7 percent.
In August, payroll jobs rose in 37 states and fell in 14. The largest payroll job percent increase was 1.4 percent in Kentucky. The largest payroll job percent decline was 0.7 percent in Mississippi.
Nevada Employment Situation
Nevada lost 2,600 net payroll jobs and the unemployment rate remained unchanged at 4.4 percent in August.
Over the past twelve months, Nevada added 69,900 payroll jobs and the unemployment rate fell by 1.6 percentage points from 6 percent.
In August, Nevada’s private sector lost 3,300 net private payroll jobs and over the past twelve months it added 65,900 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 695 on net in August, and over the past year employment rose by 56,458.
Nevada’s labor force participation rate rose to 60.3 percent in August from 60.1 percent. Since last year, the labor force participation rate rose by 0.4 percentage point.
Nevada Payroll Employment
Nevada lost 2,600 net payroll jobs, or -0.2 percent, on a seasonally adjusted basis during August. In the prior month, Nevada added 8,900 jobs. Over the past twelve months, Nevada added 69,900 payroll jobs, or 5 percent. Nevada nonfarm payroll employment had increased in 11 of the past 12 months.
Nationally, nonfarm payrolls rose by 315,000 in August, or rose by 0.2 percent. Over the 12-month period ending with August, nonfarm payrolls rose by 5,840,000 jobs, or 4 percent. Nevada ranks 2nd among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During August, Nevada’s private-sector lost 3,300 jobs, or approximately -0.3 percent. The private-sector in Nevada added 8,000 jobs in the prior month. Over the past twelve months, private-sector payrolls in Nevada added 65,900, or 5.3 percent. Nevada private-sector payroll employment has increased in 11 of the past 12 months.
Nationally, private-sector payroll jobs rose by 308,000 jobs in August, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,702,000 jobs in the private sector, or 4.6 percent. Nevada ranks 5th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during August were Education and Health Services (500) and Construction (300). The poorest performing sectors during the month were Leisure and Hospitality (-900) and Government (-2,300).
The best performing sectors during the last twelve months were Professional and Business Services (6,400) and Construction (2,200). The poorest performing sectors during the last twelve months were Trade, Transportation, and Utilities (-500) and Government (-2,700).
Nevada Labor Force Statistics
Labor Force Participation
The labor force participation rate in Nevada rose to 60.3 percent in August from 60.1 percent in the prior month. At a labor force participation rate of 60.3 percent, Nevada ranks 40th in the nation. The labor force participation rate in Nevada rose by 0.4 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Nevada was 64.3 percent last occurring in September 2012. The series high for the labor force participation rate in Nevada last occurred in May 1982 when the labor force participation rate hit 73.5 percent. The 10-year low for the labor force participation rate was 55.6 percent in May 2020. This also represents the series low for the labor force participation rate in Nevada.
The national labor force participation rate rose by 0.3 percentage
points over the month to 62.4 percent in August. That rate rose by 0.7
percentage point from a year earlier. The all-time high for the national
labor force participation rate was 67.3 percent in April 2000. The
10-year high for the national labor force participation rate was 63.8
percent in October 2012. The recent 10-year low occurred in April 2020
at a level of 60.2 percent. The series low for the national labor force
participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Nevada civilian noninstitutionalized population 16 years and older counted as employed, in August rose to 57.7 from 57.5 percent in the prior month. At 57.7 percent, Nevada is tied for 40th among state employment-to-population ratios in the nation. The employment-to-population ratio in Nevada rose by 1.4 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Nevada was 61.7 percent in November 2019. The series high for the employment-to-population ratio in Nevada last occurred in January 1989 when the employment-to-population ratio hit 68.8 percent. The 10-year low for the employment-to-population ratio was 41.6 percent in April 2020. This also represents the series low for the employment-to-population ratio in Nevada.
The national employment-to-population ratio rose by 0.1 percentage point over the month to 60.1 percent in August. That rate rose by 1.6 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.
State employment and unemployment data for September is scheduled for release October 21, 2022. The national employment situation report for September will be released October 07, 2022.