Economic Data for Nevada

Gross Domestic Product

Real GDP (a measure of economic growth) declined from 2006-2009, until it began to recover from 2013-2017, going from $120 billion to $134 billion (slightly below the pre-recession high).

 

Jobs                                                                                                      

Private-sector employers have added 230,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector added 45,000 new jobs. There were 1,205,000 total jobs in the private sector in 2018, the same as before the recession. Average hourly wages in the private sector grew from 2011-2018, going from $19/hr to $23.50/hr.

 

Manufacturing employment grew from 2000-2008, declined from 2008-2011, but has been growing since then and is at a new high in 2018. There were 53,000 jobs in this sector in 2018, above pre-recession highs of 51,000 jobs. Average hourly wage of manufacturing employees increased from $16/hr in 2014 to $19/hr in 2018.

 

There were 70,000 jobs in the Transportation, Warehousing and Utilities sector in 2018, far above pre-recession levels of 55,000 jobs. The average wage in Trade, Transportation and Utilities occupations has grown since 2011, going from $17.50/hr to $20/hr in 2018.

 

Unemployment

The unemployment rate in 2018 is 5% down from 5.3% in 2017. This is above the national average of 3.9% unemployment.

 

 

Housing

The House Price Index, a measure of the cost of housing, decreased from its 2008 peak of 410 to 180 in 2012 when it resumed growth, but remains below pre-recession levels (hitting 360 in 2018), showing rising housing costs that are still below past highs.

 

 

Las Vegas-Henderson-Paradise

Gross Domestic Product

Real GDP (a measure of economic growth) declined from 2007-2010, until it began to recover from 2012-2016, going from $84 billion to $97 billion (slightly below the pre-recession high).

 

 

Jobs                                                                                                      

Private-sector employers have added 180,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector added 18,000 new jobs. There were 890,000 total jobs in the private sector in 2018, the same as before the recession. Average hourly wages in the private sector grew from 2010-2017, going from $19.50/hr to $23/hr.

 

Manufacturing employment declined from 2006-2013, especially during the recession and has remained around these lows as of 2018. There were 15,000 jobs in this sector in 2018, below pre-recession highs of 21,500 jobs. Average hourly wage of manufacturing employees increased from $16/hr in 2014 to $18/hr in 2018.

 

 

There were 43,500 jobs in the Transportation, Warehousing and Utilities sector in 2018, above pre-recession levels of 35,000 jobs. The average wage in Transportation and Material Moving occupations was $17.96/hr in 2018.

 

 

Unemployment

The unemployment rate in 2018 is 5% down from 5.3% in 2017. This is above the national average of 3.9% unemployment.

 

 

Housing

The House Price Index, a measure of the cost of housing, decreased from its 2007 peak of 260 to 100 in 2012 when it resumed growth. In 2018 it hit 208, but remains below pre-recession levels, showing rising housing costs that are still below past highs.