Economy

Unemployment rate

The unemployment rate is a key measure of the health of local economies. A high unemployment rate is indicative of an economy in a recessionary state, while a low unemployment rate implies the economy is healthy or growing. A high rate of unemployment can have both personal and societal effects. During periods of unemployment, individuals are likely to feel severe economic strain and mental stress. High unemployment rates also place strain on social support systems.

Source: Bureau of Labor Statistics, Local Area Unemployment Statistics

4.0%

Unemployment rate in
Clark County in 2019

3.9%

Unemployment rate in
Nevada in 2019

3.7%

Unemployment rate in
the U.S. in 2019

Unemployment rates continue to decline 

Southern Nevada's unemployment rate returned to near pre -recession levels in 2017, and continued to drop in subsequent years. At 4 percent, the region's unemployment rate is at its lowest point of the past decade. Since 2012, the local unemployment rate has dropped nearly 175 percent (and more than 7 percentage points), from 11.3 percent to 4 percent.

How does Southern Nevada stack up?

While Southern Nevada's unemployment rate has declined each year since 2010, it remains above the national average, and trails those of most of its Intermountain West peers (see charts below ). The Reno metro area, whose unemployment rate has tracked closely with Southern Nevada's most of the past decade, saw its rate drop and remain below the national average since 2017, while Southern Nevada has remained higher than the U.S. over the same time period. Of the 388 metropolitan areas in the U.S., the Las Vegas metro area has remained in the bottom third in terms of unemployment rate during the past 5 years.

Source: Bureau of Labor Statistics, Unemployment Rates for Metropolitan Areas (Annual Averages)