Employment in Nevada’s Construction sector had a slight bounce back in May after its steep decline in April.
In terms of seasonally adjusted data, Nevada gained 200 month-over-month positions in May. The current total Construction employment count is at 109,100, which reflects a MoM increase of 0.2%. Notably, total construction employment in April was adjusted to 108,900.
The Construction sector has remained at 6.9% of Nevada’s total nonfarm employment, according to nevadaworkforce.com. In terms of year-over-year data, the Silver State has lost 1,100 positions, which accounts for a 1% total decrease.
May reflected a mixed-bag for Nevada employment. Construction, Professional Business Services, Education and Health Services and Government all saw increases. Most of these were quite small, with Education and Health Services acting as the outlier and posting a monthly gain of 1,200 seasonally adjusted positions.
Nevada’s peak Construction employment was 142,500 in 2005. Current employment figures are 23.4% lower than the record high.
EDITOR’S NOTE: We are including both seasonally and non-seasonally adjusted data. Seasonally adjusted data continues to change after it is originally posted, so the wider array of data is intended to provide a more accurate view of the market.
Non-Seasonally Adjusted Construction Data
Non-seasonally adjusted data reported overall Construction employment at 109,800. This represents stronger growth than seasonally adjusted data, having found monthly gains of 800 positions, or 0.7%. In YoY terms, non-seasonally and seasonally adjusted data have matched at a loss of 1,100 positions, or 1%.
Non-seasonally adjusted data splits Construction into two subcategories: Construction of Buildings and Specialty Trade Contractors.
As Construction of Buildings is the smaller of the two subsectors, it had a comparatively strong showing in May. The subsector gained 400 positions MoM, which equates to a 2.2% gain. Its total employment count is 18,200.
Non-seasonally adjusted data reflects the subsector has gained a total of 200 YoY positions, which accounts for a growth of 1.1%. Record employment in the subsector reached as high as 26,500 jobs.
Specialty Trade Contractors extended its plateau after a volatile start to the year. The subsector has gained 200 MoM jobs, which accounts for 0.2% growth. In total, the subsector reported 80,600 in total jobs. Notably, this means the April total was adjusted from 80,300 positions to 80,400.
YoY, the subsector has lost 600 positions, which represents a 0.7% decline. The subsector once boasted a maximum employment figure of 107,200 roles.
Seasonally Adjusted Non-Construction Fields
The closely related Manufacturing sector remained completely flat. Interestingly, the data adjusted its all-time high employment count from 67,700 positions to 67,600. April reports indicated the sector had a total employment of 67,600 people. These reports have since been adjusted to 67,200 positions.
The aforementioned Education and Health Services reported equal gains in non-seasonally and seasonally adjusted data. In both data sets, the gains were primarily dominated by health-related fields, with the Educational Services subsector having only reported a MoM change of 100 positions.
Education and Health Services is currently at a record peak of 179,900 total positions.
Leisure and Hospitality remains the king of Nevada employment. Over the course of the month, it increased by an additional 1,600 non-seasonally adjusted positions, which accounts for 0.4% of growth.
The subsectors Arts, Entertainment and Recreation and Amusements, Gambling and Recreation dominated growth in the sector, having increased by 1,700 and 1,300 positions, respectively.
The sector has continued to grow, having reported an increase of 2,200 YoY jobs. As Leisure and Hospitality increases, it continues to bring its total employment to new record highs. As of now, the sector is reporting 370,500 jobs.
Professional and Business Services had the highest growth in May, both in number and percentage. The sector gained a total of 2,300 jobs across the month, which reflects a growth of 1.1%. This brings the total employment count to 219,400 positions.
The only subsector to lose any positions in the field was Professional and Technical Services, which shed 100 jobs. Management of Companies and Enterprises, Administrative and Waste Services, Administrative and Support Services, and Employment Services all reported substantial gains.