Nevada Unemployment Dropping as Economy Advances0

Posted by Thomas Miller, CCIM

New business Filings Exceed 15,000 in Q1 2012

Nevada’s Secretary of State’s report indicates positive news:

New Entity Filings (Leading Indicator) — New business entity filings were up 17.1 percent from the preceding quarter (Q4 2011).

KEY ECONOMIC INDICATORS Prior Period Prior Year Value
 
 

Current Value

Value

Change

Value

Unemployment

11.9%

12.9%

-1.0%

13.5%

Analyst’s Assessment
The first quarter of 2012 shined a few bright spots on what has been a challenging recovery cycle. Overall employment trended in a positive direction, a condition absent from the economic landscape during most of the past three years. New job creation has helped push the unemployment rate down to its lowest level since 2009.

Nevada Economic Overview
New business Filings Exceed 15,000 in Q1 2012

Core employment – total employment excluding the construction and government sectors – has reported year-over-year gains for 21 consecutive months. The fact that many private sector employers are expanding is an encouraging sign.

With over 15,000 new business entity filings recorded in the first quarter of 2012, the data suggest that investors and entrepreneurs are continuing to seek out Nevada as a viable place to do business and/or take advantage of the investment opportunities within the Silver State. The economy has clearly distanced itself from the bottom and appears to be gaining some momentum.

Jeremy Aguero
Principal Analyst, Applied Analysis

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About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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