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Introduction - Nevada Workforce Informer

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					    Nevada Labor Market Briefing:
            March 2013

Department of Employment, Training &
             Rehabilitation

                    Frank R. Woodbeck, Director
                 Bill Anderson, Chief Economist
  Leanndra Copeland, Supervising Economist

       Prepared by the Research and Analysis Bureau




The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Presentation Overview
     Executive Summary
     National Perspective
     Nevada Economic Indicators
     Nevada Labor Market Conditions




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Executive Summary: Nevada by the
Numbers




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
State and Metro Area Unemployment
Rates
 9.7% Unemployment Rate (SA1)
       up from 9.6% in February; down from 11.6% a year ago
       compares to a 7.6% rate for the U.S.
 Metro Area Rates (NSA2)
       Las Vegas: 9.8% (9.8% prior month, 11.7% year ago)
       Reno: ten percent (10.1% prior month, 11.8% year ago)
       Carson City: 10.6% (10.7% prior month, 12.2% year
        ago)
       compares to a 9.8% unadjusted rate for the State (9.8%
        prior month; 11.6% year ago)

   1seasonally   adjusted
   2not   seasonally adjusted



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
County Unemployment Rates (NSA)
 County Rates (YTD1)
       lowest: Esmeralda (4.3%), Lander (5.5%), and
        Humboldt (5.8%)
       highest: Lyon (14.7%) and Mineral (12.8%)




  1year-to-date      average



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
State and Regional Employment (SA)
 Non-Farm Job Levels Up 19,200 Relative to a
  Year Ago (+25,500 YTD)
       Las Vegas: +15,400 (+17,000 YTD)
       Reno: +900 (+2,700 YTD)
       Carson City: unchanged (-100 YTD)
 Down 2,900 Over the Month (February-March)
       7,300 (NSA) jobs were expected to be added based
        upon historical trends, but just 4,400 were actually
        added, resulting in the seasonally adjusted decrease.
       Las Vegas: -500
       Reno: -1,100
       Carson City: +100



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Unemployment Insurance Statistics
     Initial Claims for Unemployment Insurance Down 5.6% From a
      Year Ago (-9.5% YTD)

     Total Number of Claims Paid per Week (regular benefits plus
      extensions) = 57,500

     Total Benefit Payments per Week (regular benefits plus
      extensions) = $15.3 million

     Nevada has a Federal Loan Balance of $696 Million to Fund
      Unemployment Insurance Benefits.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
National Perspective




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Key U.S. Economic Indicators
     Readings of consumer sentiment and confidence
      remain volatile from month-to-month, but appear
      to be trending up over time.
     Housing starts in March, at 1M+ (SAAR1), were up
      seven percent from the previous month, and by
      nearly 50% from a year ago.
     Consumer prices up 1.5% relative to a year ago in
      March.
     Real GDP up 0.4% in 2012:IVQ, with personal
      consumption expenditures up by 1.8%.
     Industrial production rose 3.5% relative to a year
      ago in March.




    1seasonally    adjusted annual rate



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
U.S. Real GDP Growth (quarter-over-
quarter; SAAR)
    6%


    4%


    2%


    0%


    -2%


    -4%


    -6%


    -8%


 -10%
           IQ   IIQ   IIIQ IVQ   IQ   IIQ   IIIQ IVQ   IQ   IIQ   IIIQ IVQ   IQ   IIQ   IIIQ IVQ   IQ   IIQ   IIIQ IVQ
                 2008                  2009                  2010                  2011                  2012



         The nation’s economy grew just 0.4% in 2012:IVQ, down from a 3.1% gain in the
          previous quarter. Growth in consumption expenditures came in at 1.8%, compared to
          a 1.6% gain in 2012:IIIQ.
         Residential and nonresidential fixed investment and imports also made positive
          contributions, offsetting negative contributions from private inventory investment,
          federal/state/local government spending, and exports.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
U.S. Unemployment Rate (SA)
 12%



 10%



    8%



    6%



    4%



    2%



    0%
         '04    '05        '06         '07        '08        '09        '10        '11        '12         '13



        The jobless rate peaked at ten percent in October 2009.
        In March, it stands at 7.6%, down 0.1 percentage point from February and
         off 0.6 point from a year ago.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Unemployment Rate by “Class of Worker”
    12%



    10%



    8%



    6%



    4%



    2%



    0%
      2007          2008          2009         2010          2011          2012         2013

                                   Private Sector       Public Sector


     The jobless rate for private sector workers is higher than that for the public sector.
     The gap has narrowed…at its peak the private sector rate was more than seven
      points higher than that for the public sector; now it is about four points higher.
     Perhaps most notably, the private sector unemployment rate peaked about 18 months
      earlier than in the public sector.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
U.S. Job Growth (month-over-month; SA)
350,000


300,000


250,000


200,000


150,000


100,000


 50,000


      0
          A   M    J   J    A     S   O   N   D   J   F   M   A   M   J   J   A   S   O   N   D   J    F     M
                           2011                                       2012                            2013



     8.7 million jobs lost 12/07-12/09.
     Since then, 5.8 million jobs (about 67% of those lost) have been added.
     Job growth totaled just 88K in March.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nevada Economic Indicators




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Key Nevada Economic Indicators
     January taxable sales up 9.3% from a year ago, the 31st straight
      gain.
     Gaming win up 15.1% percent in February. (+0.6% YTD)
     Las Vegas visitor volume down 1.3% in February. (-1% YTD)
     Gold prices averaged $1,593/oz. in March, off by $81 from a year
      ago and $36 from the previous month.
     Nevada exports, at $730M in February, up 32% from a year ago.
      (23% YTD)
     Personal income growth remains positive.
     The number of new business entity formations in Nevada fell
      10.3% from a year ago in March.
     The number of Nevadans seeking assistance through the State’s
      TANF Program ticked down on a year-over-year basis in March
      (down 0.8%). The growth in SNAP (“food stamps”) enrollment
      has eased considerably of late, and was up just 0.5% in
      February.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nevada Personal Income Growth (year-
over-year)
 15%




 10%




    5%




    0%




    -5%




-10%
            '03      '04       '05       '06        '07       '08       '09       '10       '11        '12



         Personal income gains have rebounded off of recessionary lows.
         Like other indicators, income trends suggest that the economy bottomed
          out over the 2009-2010 period.
         For all of 2012, personal income is up 2.4% from a year ago.
         Growth, however, remains below the national average.


 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Residential Construction and Real Estate
Activity
     Statewide residential building permits start off the year
      41% higher than the first two months of 2012.
     Nevada housing starts are up 43% from a year ago
      through February.
     Nevada home prices on the rise…second-strongest gain
      in nation in last year’s fourth quarter.
     Resale prices in Southern Nevada have increased relative
      to a year ago in each of the past 11 months, with a gain of
      31% in February. New home prices have finally begun to
      improve…up five straight months and 21% in February.
     Resale activity in Southern Nevada is trending down as
      inventories have been constrained. February brought with
      it the seventh consecutive year-over-year decline.
     Southern Nevada new home closings have risen sharply
      of late, with January/February results about double year-
      ago readings. Permit activity has followed a similar
      pattern, suggesting continued improvement.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
FHFA Housing Price Index: NV vs. the
U.S. (SA; 2003:IQ = 100)
    200

    180

    160

    140

    120

    100

    80

    60

    40

    20

      0
          2003   2004      2005      2006      2007      2008     2009      2010      2011      2012

                                            Nevada         U.S.


     Nevada housing prices nearly doubled over the course of the “boom” prior
      to declining sharply as the recession unfolded.
     A rebound, however, is evident. In fact, NV’s price gains in last year’s
      fourth quarter, measured on a year-over-year basis, came in at 20%,
      trailing only AZ’s 22%.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nevada Labor Market Conditions




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Background: What is Unemployment?
 16 years old and over; available for work during
  calendar week including the 12th day of the month;
  specific efforts made to find employment during the
  four weeks ending with the reference week.
 In Nevada, we ESTIMATE the number of
  unemployed via a model-driven approach in
  partnership with BLS.
 Factors taken into account include responses to the
  CPS monthly household survey, responses to a
  monthly survey of businesses, and initial claims for
  unemployment insurance.
 Unemployment is not synonymous with those
  receiving unemployment insurance benefits.


 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
NV vs. the U.S. Unemployment Rate (SA)
 16%


 14%


 12%


 10%


    8%


    6%


    4%


    2%


    0%
         '04    '05        '06         '07        '08        '09        '10        '11        '12         '13

                                                        NV    U.S.



        Nevada’s unemployment rate stands at 9.7% in March, up from 9.6% in
         February. This is the first month-over-month uptick since June 2011.
        Off from a record high of 14% recorded in October 2010.
        The State’s jobless rate stands 2.1 points higher than the nation’s 7.6%. At
         the height of the downturn, the State’s jobless rate was 4.5+ points higher
         than the nation’s.


 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nevada’s Recession Scorecard:
Unemployment Rate
12%


                                                                                9.7%
10%



 8%



 6%                         5.2%




 4%



 2%



 0%
                       December 2007                                        March 2013



     Despite the fact that it is trending down, Nevada’s jobless rate is 4.5
      percentage points higher than at the “official” start of the recession in
      December 2007.
     The U.S. unemployment rate stands 2.6 points higher than at the start of
      the recession.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Unemployment Rate Rankings (SA)
              North Dakota
 1

                 Nebraska
 2



                   Vermont
 3




             South Dakota
 4




      Iowa/Utah/Wyoming
 5
 46




              Rhode Island
 47




            North Carolina
 48




      California/Mississippi
 50




                     Illinois
 51




                   Nevada

                                0%     2%            4%           6%           8%          10%          12%



      In March, Nevada’s 9.7% jobless rate was the highest in the nation.
      Three other States in the 9.4%-9.5% range.
      North Dakota’s 3.3% jobless rate was the lowest.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
States Grouped by February Decline in the
Unemployment Rate (SA; year-over-year)
 16


 14


 12


 10


    8


    6


    4


    2
           NV

    0
        ≤-2.2 pct.   -2.1 to -1.8   -1.7 to -1.4   -1.3 to -1   -0.9 to -0.6   -0.5 to -0.2   -0.1 to 0.2   0.3+
           pts.



       Nevada led the nation with a 2.2 percentage point decline in the
        unemployment rate relative to a year ago in February.
       FL, ID, and RI were next, with 1.3 point reductions.
       Three states saw no change in the jobless rate, while ten realized
        increases.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Unemployment Duration (12-month moving
average)
    120



    100



    80



    60



    40



    20



      0
       2007            2008           2009            2010            2011           2012            2013

                                     26 Weeks or Less                  27+ Weeks


     In the 12 months ending in March, 67K unemployed Nevadans had been without a job
      for at least 27 weeks. 82K had been unemployed for a shorter period of time.
     Long-term unemployment peaked at a average of about 93K in the 12 months ending
      in October 2011. Current info translates into a nearly 30% decline.
     Short-term unemployment is also on the decline, as it peaked at 108K during the 12
      months ending in June 2010.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Historical Metro Area Unemployment Rates
(NSA)
 16%


 14%


 12%


 10%


    8%


    6%


    4%


    2%


    0%
         '04    '05         '06        '07        '08        '09        '10        '11        '12         '13

                                     NV      Las Vegas       Reno       Carson City



        Unemployment conditions in the State’s three population centers tend to
         behave in a similar fashion over time as jobless rates currently range from
         9.8% to 10.6%.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Current Metro Area Unemployment Rates
(NSA)
  Las Vegas                                                                     9.8%




    Nevada                                                                      9.8%




      Reno                                                                       10.0%




 Carson City                                                                         10.6%




               0%        2%            4%           6%           8%           10%          12%          14%



     Carson City has the highest jobless rate among the State’s three metro
      areas, at 10.6%.
     Las Vegas’ 9.8% is the lowest.
     Rates in all three regions are down noticeably from year-ago readings (-1.9
      points in Las Vegas, -1.8 points in Reno, -1.6 points in Carson City.)



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
County Unemployment Rates (YTD, NSA)
 Esmeralda
      Lander
    Humboldt
        Elko
      Eureka
 White Pine
    Churchill
       Clark
     Nevada
     Washoe
    Pershing
 Carson City
      Storey
     Douglas
         Nye
      Lincoln
     Mineral
        Lyon

                0%    2%          4%          6%          8%         10%         12%         14%         16%




       The highest unemployment rates are in Lyon and Mineral Counties, with
        Esmeralda, Lander, and Humboldt having the lowest.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Background: Nevada Employment
 The Current Employment Statistics Program
  provides a monthly ESTIMATE of both full and part-
  time jobs, not workers, and is based on a monthly
  payroll survey.
 The data is collected from a sample in excess of
  2,000 Nevada non-farm business establishments.
 Due to errors that are inherent to all sample-based
  estimation processes, an annual benchmark
  adjustment is done to re-anchor the estimates to a
  full population count; this count comes from the
  unemployment insurance tax records filed by
  employers with the Employment Security Division.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nonfarm Jobs in Nevada (SA)
1,400,000


1,350,000


1,300,000


1,250,000


1,200,000


1,150,000


1,100,000


1,050,000


1,000,000
            '03   '04       '05       '06      '07       '08      '09       '10       '11      '12       '13



      In totaling 1.16 million, job readings are up by 19,200 relative to a year ago,
       but down by 2,900 over-the-month.
      Between 2007 and 2010, job losses totaled more than 175,000.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Job Growth (SA; year-over-year)
       30,000                                                                                             3.0%


       25,000                                                                                             2.5%


       20,000                                                                                             2.0%




                                                                                                                 percent change
jobs




       15,000                                                                                             1.5%


       10,000                                                                                             1.0%


        5,000                                                                                             0.5%


           0                                                                                              0.0%
                A M   J   J    A   S   O N   D   J   F   M A M   J     J   A   S   O N   D   J    F   M
                              2011                               2012                            2013

                                             Jobs        Pct. Change



       Nevada job readings are up 1.7% from a year ago. Growth has been
        trending up over time, but has eased a bit in the past three months.
       This increase marks the 27th straight month in which year-over-year gains
        have been recorded.
       In mid-2009, job losses exceeded ten percent on a year-over-year basis.



  The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Job Growth: NV vs. the U.S. (year-over-year;
NSA)
    8%

    6%

    4%

    2%

    0%

    -2%

    -4%

    -6%

    -8%

 -10%
            '04      '05       '06       '07        '08       '09       '10       '11       '12     '13 YTD

                                                      NV     U.S.




         After growing at a much faster pace than the U.S. prior to the recession,
          Nevada job losses were more pronounced than in the nation during the
          downturn. Only within the past several months has job growth in the State,
          once again, exceeded national norms.
         Through March, jobs are up 2.3% relative to the same period in 2012 in
          Nevada, compared to a 1.6% increase in the U.S. as a whole.


 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Nevada’s Recession Scorecard: Non-Farm
Jobs (SA)
1,400,000
                              1,293,100
                                                                              1,156,200
1,200,000



1,000,000



 800,000



 600,000



 400,000



 200,000



        0
                           December 2007                                      March 2013



     Nevada’s job losses since the “official” start of the recession in December
      2007 total 137K (-10.6%).
     Over the same period, U.S. jobs are down 2.1%.
     400K jobs were created in Nevada between 1997 and 2007.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Number of States with a Lower Private Sector
Job Growth Rate than Nevada
 60



 50



 40



 30



 20



 10



    0
           '03       '04        '05       '06        '07        '08       '09        '10       '11     '12 YTD



        In the years preceding the recession, Nevada led the nation in employment growth (based upon
         QCEW information).
        Nevada was impacted by the recession more than any other state in terms of employment growth.
        In 2011 and the first three quarters of 2012, Nevada’s employment growth rate is rising again.
         Private sector jobs grew 1.8% in the first nine months of last year, higher than that for 21 other
         states.
        Looking solely at September of last year, Nevada outperformed 33 other states in terms of y-o-y
         growth.



    The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Female Share of the Workforce by
Economic Development Sector
    Healthcare and Medical

                     Total

     Tourism, Gaming, and
              Ent.

    Information Technology

               Agriculture

Logistics and Operations

 Aerospace and Defense

            Manufacturing

             Clean Energy

      Mining and Materials

                             0%    10%       20%       30%       40%       50%       60%       70%       80%




       Three-quarters of the healthcare/medical services workforce is made up of
        women. TGE also has a fairly high share, at 48%.
       Not surprisingly, the lowest share of female employment is found in such
        sectors as mining/materials, clean energy, and manufacturing.
       In total, women make up about 48% of Nevada’s workforce.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Historical Industry Job Growth (SA; year-over-
year)
    15%


    10%


     5%


     0%


    -5%


 -10%


 -15%


 -20%
           A   M    J   J    A     S   O   N   D    J    F   M    A     M   J   J   A    S      O   N   D   J    F     M
                            2011                                            2012                                2013

                     Leisure/Hospitality       Trade/Trans./Utilities       Prof./Bus. Srvcs.       Construction


         Job growth in the State’s largest industry, leisure/hospitality, has been positive for 27 consecutive
          months.
         Trade/transportation/utilities job growth has been positive for 28 straight months.
         Professional/business services jobs have declined in each of the past three months, after trending
          up since early-2010, a trend which will have to be monitored going forward.
         Construction job growth finally turned positive in mid-2012. Payrolls stand 1,500 higher than a year
          ago.




    The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Job Growth by Industry (YTD; year-over-year;
NSA)
    Leisure & Hospitality

 Trade, Transportation, &
         Utilities

            Construction

      Education & Health
          Services

      Financial Activities

            Government

       Mining & Logging

          Manufacturing

          Other Services

 Professional & Business
        Services

                        -4,000     -2,000        0        2,000       4,000      6,000      8,000      10,000




     Leisure/hospitality leads the way with about 9K more jobs in the first quarter of 2013
      vs. a year ago.
     TTU has added 6K jobs over the same period, while construction is up by 3,300.
     PBS job levels declined by 2,800 positions so far in 2013.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Historical Metro Area Job Growth (SA; year-
over-year)
 3%


 2%


 1%


 0%


 -1%


 -2%


 -3%


 -4%


 -5%
       A   M    J   J    A     S   O   N    D   J   F   M   A   M      J   J     A   S   O   N   D   J    F     M
                        2011                                           2012                              2013

                                       NV       Las Vegas       Reno           Carson City



      Job growth in the Las Vegas metro area has been positive in every month
       since mid-2011. Reno has registered positive job growth in each of the
       past 13 months.
      Carson City showed signs of improvement near year-end, but is off to a
       weak start so far in 2013, although March job estimates did match last
       year’s.


 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Metro Area Job Growth (year-over-year; year-
to-date; NSA)
      Nevada




    Las Vegas




        Reno




 Carson City




            -5,000         0          5,000        10,000       15,000       20,000       25,000       30,000



      Las Vegas added 17K jobs relative to a year ago during the first quarter of
       2013.
      In Reno, job levels are up 2,700, while Carson City is just off slightly from
       year-ago readings.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Initial Claims for Unemployment Insurance
 25,000




 20,000




 15,000




 10,000




    5,000




       0
            J        F       M       A        M       J        J       A       S        O       N       D

                                                     2012     2013



       Initial claims totaled 15,400 in March. This compares to 16,400 a year ago.
        Declines have been recorded in 37 of the past 40 months.
       Claims activity during the recession peaked in excess of 36,000.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Total Unemployment Insurance Claims vs.
the Total Number of Unemployed
 250,000




 200,000




 150,000




 100,000




    50,000




        0
             J FMAM J J A SOND J FMAM J J A SOND J FMAM J J A SOND J FMAM J J A SOND J FM
                   2009                    2010                   2011                    2012          2013

                              Regular      State/Federal Extensions      Total Unemployment



       There were 57,500 Nevadans submitting UI claims in March, down by 2,500 from the
        prior month. Compared to a year ago, the number of claimants was down 23,500.
       35,400 were regular UI claims; 22,100 fell under a variety of extension programs.
       Of the 134,600 Nevadans estimated to be unemployed in March, 43% were receiving
        benefits. In the first half of 2008, 42% of those counted as unemployed received
        benefits. At its peak, the “coverage ratio” exceeded 70%.



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Current Measures of Nevada UI Barometers
vs. Ten-Year Averages
    0%




 -5%




 -10%




 -15%




 -20%




 -25%
           Initial Claims    First Payments     Continued Claims        Weeks Paid           Regular UI
                                                                                             Exhaustions



        All barometers are below their, respective, ten-year averages.
        March’s level of initial claims stood 7.6% below average.
        The number of individuals exhausting their regular 26-week UI benefits, at
         3,600, is nearly 13% below average.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Average Weekly Unemployment Insurance
Benefit Payments: Regular State Benefits
and Federal Extensions (millions of $)
 $50

 $45

 $40

 $35

 $30

 $25

 $20

 $15

 $10

    $5

    $0
         A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
               2009                 2010                      2011                      2012            2013

                                   Regular State Payments       Federal Extensions



        Benefit payments averaged $15.3 million per week in March.
        58% of payments were for regular State benefits, with 42% attributable to
         federal extension programs.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
Unemployment Insurance Trust Fund U.S.
Federal Loans (millions of $)
 $900

 $800

 $700

 $600

 $500

 $400

 $300

 $200

 $100

    $0
         O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M
          2009            2010                         2011                          2012              2013



        Since borrowing began in October 2009, Nevada has incurred $696 million
         in outstanding loans to continue paying State unemployment insurance
         benefits.




 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency
For Additional Information, Please Contact:
 Nevada Department of Employment, Training and Rehabilitation
               Research and Analysis Bureau

                                       Bill Anderson
                                      Chief Economist
                                   wdanderson@nvdetr.org

                                     Leanndra Copeland
                                   Supervising Economist
                                   L-copeland@nvdetr.org

                                    (775) 684-0450
                           http://www.nevadaworkforce.com
                         follow us on Twitter @nvlabormarket



 The Nevada Department of Employment, Training and Rehabilitation is a proactive workforce & rehabilitation agency

				
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