Las Vegas Area Economic Summary

Las Vegas Area Economic Summary

Updated July 06, 2022

This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see regions/economic-summaries.htm.

Unemployment rates for the nation and selected areas

Unemployment rates

Average weekly wages for all industries by county

Las Vegas metro area, fourth quarter 2021 (U.S. = $1,418; Area = $1,197)

United States

5.5 3.4

Nevada

7.6 4.7

Clark County

8.8 5.2

Las Vegas city

8.9 5.4

Henderson city

7.3 4.6

0.0

5.0

10.0

May-21 May-22 Source: U.S. BLS, Local Area Unemployment Statistics.

Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

12-month percent changes in employment 30.0

20.0

10.0

0.0

-10.0

-20.0

-30.0 May-19

May-20

May-21

May-22

Las Vegas metro area

United States

Source: U.S. BLS, Current Employment Statistics.

Las Vegas metro area employment (number in thousands)

May 2022

Change from May 2021

Number Percent

Total nonfarm

1,052.8

87.1

9.0

Mining and logging

0.4

0.0

0.0

Cons tructi on

73.8

3.2

4.5

Ma nufa cturi ng

27.5

2.5

10.0

Trade, transportation, and utilities

206.3

14.7

7.7

I nforma ti on

11.6

0.7

6.4

Financial activities

57.3

3.9

7.3

Professional and business services

156.4

18.2

13.2

Education and health services

111.6

2.9

2.7

Leisure and hospitality

273.5

38.0

16.1

Other services

28.9

0.6

2.1

Government

105.5

2.4

2.3

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, May 2022

40.0

34.6

35.0

31.7

30.0

25.0

20.0

15.0

10.0

8.3 8.6

9.8 10.1

5.0

0.0

All items

Food

Energy

West Region

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

35.0 30.0 25.0 20.0 15.0 10.0

5.0 0.0 -5.0 -10.0

May-19

12-month percent changes in PPI

May-20

May-21

May-22

General freight trucking

Hospitals

Casino hotels

Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

West Region, 2020

100% 80% 60%

$11,037 $4,916 $7,724 $8,398

$10,360 $5,177 $7,246 $7,316

40%

$10,146

$9,826

20%

$24,548

$21,409

0% West Region

United States

All other items

Healthcare

Personal insurance & pensions

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Las Vegas United metro area States

$24.21 $28.01

Lawyers

65.53 71.17

Human resources managers

42.78 65.67

Electricians

32.48 30.44

Concierges

14.46 18.04

Cashiers

12.21 12.87

Gambling dealers

9.35 13.92

Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2021.

Employer costs per hour worked for wages and selected employee benefits by geographic division

Private industry, March 2022

Total compensation Wages and salaries Total benefits Paid leave Vacation Supplemental pay Insurance Retirement and savings Legally required benefits

West Region

$42.35 29.86 12.49 3.22 1.63 1.37 3.15 1.45 3.31

United States $38.61

27.19 11.42

2.88 1.47 1.37 2.93 1.33 2.91

Source: U.S. BLS, Employer Costs for Employee Compensation.

Over-the-year changes in wages and salaries

12-month percent changes in ECI

6.0

5.0

4.0

3.0

2.0

1.0

0.0

Mar-19

Mar-20

West Region

Source: U.S. BLS, Employment Cost Index.

Mar-21

Mar-22

United States

Western Information Office ? BLSinfoSF@ ? ? 415-625-2270

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