Quality of Life Indicators

employment-to-population ratio -- updated 4/20/12

Become a member to download indicator data

The employment-to-population ratio is an alternative measure to unemployment, capturing the unemployed who leave the labor market over time. The duration of decline overtime is an indication of job growth needed to return to pre-downturn levels. Since 2006, the ratio declined through 2010, showing signs of improvement starting May 2011.

employment by industry -- 3/14/12

Become a member to download indicator data

While gaming and tourism have been the centerpieces of the region’s economy, efforts to diversify and capitalize on market and technological innovations are critical as well. Only 460 jobs were added in Washoe County from 2002 to 2004. Since then, over 25,000 jobs were added through April 2007. Construction, service, and finance/insurance/real estate jobs grew the fastest during the housing boom, while hotel/gaming and trade sector lost jobs in the last decade. Hotel/gaming, service, and trade jobs dropped from 56% in 2004 to 37% of the jobs by April 2007. Then it all changed.

Since 2007, the Reno-Sparks MSA has lost over 38,500 jobs, for a 17.2% decline in all industrial employment. The construction industry has almost half the number of jobs in 2000; while education & healthcare increased continue to grow. Washoe county covered employment improved in Professional & Business Services, as well as Leisure & Hospitality jobs, but the later pay significantly less wages. During FY 2010-11, EDAWN was responsible for bringing 670 new jobs (11 new companies), helping to diversify the northern Nevada economy.

The 2010 annual Kosmont-Rose Institute Cost of Doing Business Survey, ranked Reno as the 9th least expensive city for business taxes, while the Tax Foundation ranked Nevada as the 4th best tax climate. Newsweek ranked Reno 7th on their “surprising green” list in December. In April 2010, Sparks ranked 10th out of 45 manufacturing areas surveyed as “up-and-coming small markets for high tech in the west” by the Boyd Company Inc. of New Jersey, due to it’s central location in the west and proximity to the Port of Oakland; Mesquite, NV ranked 5th. Job creation is critical to economic recovery in northern Nevada and the state. Link to other rankings tracked by the Economic Development Authority of Western Nevada.

employment wage by industry -- updated 3/14/12

Become a member to download indicator data

In most years in Washoe County, wage growth outpaces inflation. This is tempered by the fact that service, trade, and hotel/gaming jobs pay less than the weekly average wages. Professional and business services, manufacturing, public administration and finance, although impacted by market forces, are among the fastest growing and pay above the weekly average for Washoe County, plus education and health services. Construction and financial services wages started dropping in 2008, in conjunction with the economic and housing collapse.

average weekly wage -- updated 3/13/12

Become a member to download indicator data

The Federal Labor Standards Act (FLSA) sets the minimum wage at $7.25, plus overtime pay (as of July 24, 2009). The FLSA does not require severance pay, sick leave, vacation, or holidays. The minimum wage, at a 40-hour workweek equals $290.00 per week ($1,256.66 per month based upon 52 weeks). On July 1, 2010, the federal minimum wage for Nevada employees with a qualified health plan increased to $7.25 per hour and $8.25 per hour for all other employees; new daily overtime rates are $10.875 per hour and $12.375 per hour, respectively.

Although average weekly wage data is improving, job increases in sectors paying higher wages will improve the region faster than minimum wage jobs.

unemployment -- updated 4/20/12

Become a member to download indicator data

Job creation programs and workforce development impact job creation, while unemployment shows how many people are having difficulty getting jobs. Note that unemployment does not show people who are no longer looking for work or are underemployed. Recent improvement may be more related to seasonal holiday employement and increasing numbers of those no longer able to find work or collect unemployment.  Seasonal retail jobs at close to minimum wage will have limited long-term impact on the local economy.

The unemployment rate climbed steadily, beginning late 2007 through 2010. Double digit unemployment started in January 2009, and Nevada began the highest unemployment rate in the nation beginning May 2010, rising to 14.9%.  The national rate is slowly declining and the Reno-Sparks annual unemployment rate declined 0.7% in 2011, only to rise slightly January began declining again in February 2012;  the Carson City MSA declined 2.2% in 2011, rose again in February but declined March 2012. Michigan and California consistently had unemployment rates above 12% throughout 2010, but Michigan’s rate improved in March 2011, and California improved in April and dropped below 11% for the first time in 3-years in January 2012, while Nevada continues to remain the only state still above 12%. Slow gains in California are likely to impact economic factors in Nevada. The question remains for the state—how many jobs need to be created in Nevada to spur our economy, especially in consideration of the number of individuals no longer looking for work, population changes and new entrees to the job market?

tax revenues -- updated 11/26/11

Become a member to download indicator data

Although tax revenues are an economic indicator just as business growth, taxes are fixed, so it’s unclear if it’s better if tax revenues go up or down. The proportion of revenues from the gaming tax has decreased since 2004, and almost every state now has some form of gaming, reducing Nevada tourism. Nevada also has no personal income tax; overall, this creates a high sales tax burden for Nevada residents. The 2001 intention to reduce dependence on property taxes through caps, in conjunction with declining property values, now leaves local government with monthly tax deficits, while population increases burden service delivery. Nevada surely needs a more diversified tax structure for the future.

building permits -- updated 1/24/12

Become a member to download indicator data

The housing market and tightening of the commercial loan market has impacted the demand for building permits. Washoe County and the City of Reno saw valuation reductions by half from 2007 through 2009, with the number of permits also continuing to fall. Washoe County realized less of a drop in the number of permits, with an increased valuation in 2010. The number of permits increased in 2011 for the City of Reno and Washoe County, however, the City of Sparks realized increased value with less permits. 

Permitting is one measure of building friendliness, along with length of time, taxes and regulations. Reno-Sparks has been named one of the 50 hottest cities in the nation for relocating or expanding a business, according to an industry publication. Expansion Management magazine cited Reno after its annual poll surveying 80 national site location consultants to come up with the top 50 out of 362 metropolitan areas. Forbes Best Places magazine ranked Reno 22nd in job growth out of the 200 best places for business and careers in 2007. Chief Executive magazine ranked Nevada 5th for best states for business June 2010. And the Truckee Meadows continues to be recognized as a great place to live, especially for young professionals.”

Las Vegas economic recovery

Become a member to download indicator data

The Metropolitan Policy Program at Brookings tracks overall economic performance recovery in the 100 largest metro areas.  Track the Las Vegas MetroMonitor for quarterly updates.

tourism -- new 1/31/12

Become a member to download indicator data