Unemployment and Loathing in Las Vegas
Monday, August 27th, 2007The statewide unemployment rate of Nevada rose once again, making July the fourth consecutive month that this has happened. With 4.9 percent of area individuals finding themselves without employment, the state’s jobless rate is currently at it’s highest since January of 2004. Within the last year the number of those employed in Nevada has risen 1.7 percent. This goes to show that they problem isn’t necessarily that there are not new positions being created, but that the population growth is far exceeding the number of new jobs in the area. When combined with the nationally experienced housing slump, one can easily see why employment conditions continue a downward trend.
Las Vegas jobs seem to be among the most scarce in the state. The city’s unemployment rate, which is currently higher than the national average, increased from 4.7 percent in June to 5.1 percent in July. The total number of individuals employed city-wide was approximately 919,100, which left about 49,800 people without jobs.
It isn’t that there aren’t Las Vegas area jobs to be had. The problem is that they exist mainly in certain industries, such as healthcare. Instead of being filled by individuals from the local area, employers looking for doctors, nurses, therapists, teachers and engineers are finding that they have to look elsewhere for those qualified. The city just doesn’t seem to have enough residents with the proper education and training to meet industry demands.
Available jobs in Las Vegas for construction still exist, just on a smaller scale. Nevada moved from the 16th most expensive state to do business in to the 14th due to taxes and increased cost of office and residential rent. When paired with the already existing housing slump, the rise in the cost of commercial operation has decreased the number of large scale construction projects.
Also adding to the frustration of Las Vegas job seekers is a decrease in the number of temporary positions available for those waiting on something more permanent. At this time trolling online job postings and local newspaper classifieds maybe important. When so many individuals are without employment, the job market tends to be more competitive. This means that applying to a newly available position as quickly as possible is extremely important. With employers receiving such a large number of resumes, one would hate to have theirs on the bottom of pile.