Posts Tagged ‘applied analysis’

Mining Industry Big Nevada Job Creator

By Nevada News Bureau Staff | 10:15 am November 8th, 2012

CARSON CITY – A report released today shows that Nevada’s mining industry has accounted for 14 percent of jobs added statewide in the past year and 33 percent of jobs added statewide since the recession ended in June 2009.

Courtesy of Barrick Gold Corp.

The Nevada Mining Association announced the findings, which come from a recent study completed by Las Vegas-based Applied Analysis.

“While accounting for just 1 percent of Nevada employment and 5 percent of Nevada GDP, the mining industry was responsible for 33 percent of the jobs added in Nevada since the end of the recession,” said Jeremy Aguero, principal analyst for Applied Analysis.

“Furthermore, these were not jobs recovered that had been lost; rather, they represented real growth,” he said. “Industry representatives have indicated that there is unfulfilled demand for even more employees to join the industry.”

The report comes out ahead of the 2013 legislative session, where any discussion of raising tax revenues will likely include the mining industry. The industry was the subject of extensive hearings in 2011. Mining was also the focus this year of an initiative petition that would have allowed higher taxes to be imposed on the industry, but the proposal was withdrawn.

The Nevada Mining Association, in announcing the study, said in a news release that mining has helped foster low unemployment rates in many rural counties, including 4.9 percent in Esmeralda County, 5.4 percent in Lander County, 5.5 percent in Elko County, 5.9 percent in Humboldt County and 5.9 percent in Eureka County.

Nevada’s statewide jobless rate was 11.8 percent in September, the highest in the nation.

The association said the industry has added 1,200 jobs over the past 12 months, which represents an 11 percent increase in mining’s total workforce, and the number of Nevadans now directly employed in mining is more than 12,000, the association said.

The association in February 2012 estimated the industry would add 1,200 jobs this year, both in precious metal and industrial mineral production, after conducting an informal survey of members.

“These numbers support what the industry has known for some time,” said Tim Crowley, president of the Nevada Mining Association. “We have been adding jobs throughout the industry, and the Nevada Mining Association is seeing a record number of outside suppliers joining our membership ranks. The industry’s direct and indirect reach will only continue to grow and help Nevada recover in the coming years with several new projects set to begin operations.”

Nevada’s gold mines produced 5.3 million ounces of gold in 2010. Nevada is ranked as the fourth largest producer in the world.

Report Suggests Economic Growth May Soon Be Under Way In Nevada

By Sean Whaley | 1:04 pm March 11th, 2011

CARSON CITY – While much of the economic news about Nevada is gloom and doom, a new report prepared for Secretary of State Ross Miller shows new business filings in the last quarter of 2010 turned positive for the first time since mid-2006.

The turnaround suggests the worst of the economic slowdown may be behind us, according to the report.

“Should historical trends hold true to form, general economic growth – including increased stability within the job market – should follow,” the report says. “When the new entity filings are charted with employment figures, it becomes clear that the new business filing statistics kept by the Secretary of State’s office may be a reliable leading indicator of future economic activity.”

Courtesy of Applied Analysis

The report was prepared by Applied Analysis at Miller’s request.

According to Applied Analysis Principal Jeremy Aguero, the research firm has analyzed hundreds of economic indicators and concluded that new business filings reported by the Secretary of State’s office provide meaningful insight and may even be an early warning system of future economic instability. Aguero also indicated that since these data have not been reported on a recurring basis, they may have been overlooked in the past.

In the fourth quarter of calendar year 2010, the number of new business filings totaled 13,801, contributing to a 12-month tally of 55,082. The latest quarterly volume was 2.4 percent above the preceding quarter and 2.8 percent above the 13,429 reported in the same period of the prior year.

Courtesy of Applied Analysis

The report comes out as the Nevada Department of Employment Training and Rehabilitation reported this week that the state’s unemployment rate fell seven-tenths of a percentage point to 14.2 percent in January. The drop was not seen as positive for the state, however.

“Unfortunately, the decrease was not driven by significant improvement in the labor market” said Bill Anderson, chief economist for the department. “It appears likely that some jobless Nevadans are becoming discouraged and giving up their search for work and dropping out of the labor force. In addition, given stagnant population levels, it is also likely that some Nevadans are leaving the state.”

Anderson noted there are some signs of an improving economy, with the key indicators of visitor statistics, gaming win and taxable sale exceeding expectations. Rising gas prices could affect the number of visitors to the state, however, he warned.

The Gaming Control Board also this week reported the casino gaming win for January, showing a less than 1 percent decline compared to January of 2010. The 0.67 percent decline was based on $877 million in win statewide.

For the seven months of the fiscal year to date, gaming win is up 1.2 percent over the same period in the prior year.

The Applied Analysis review of the new business filings makes one other point: Increases in foreign filings picked up in the first quarter of 2010 and have remained ahead of the prior year. Foreign filings were up 29.6 percent over 2009.

“Increases in the number of new foreign filers helped offset declines reported by domestic filers, which were down 7.8 percent for 2010. During the year, foreign filings accounted for 7.4 percent of activity, relatively modest yet a notable increase from the 5.4 percent average reported in all of 2009.”

Applied Analysis is a Nevada-based advisory services firm founded in 1997, providing information and analysis to both the public and private sectors.

Back To School Spending Could Be Boon To Nevada Retailers Hit Hard By Recession

By Nevada News Bureau Staff | 4:08 pm August 3rd, 2010

CARSON CITY – Nevada families with school-age children will spend $174 million for back-to-school supplies this month if spending trends track with national estimates, the Retail Association of Nevada reported today.

Just under 30 percent of an estimated one million households in Nevada are expected to have one or more children in grades kindergarten through 12. According to the National Retail Federation (NRF), the average American family will spend $606 on clothes, shoes, supplies and electronics to prepare to head back to school. This translates into approximately $174 million in back-to-school spending by Nevada families.

Nevada’s estimated 435,000 school children are headed back to school at the end of August, and if spending trends in Nevada resemble those being reported nationally, they will be spending approximately 10.5 percent more per family than last year.

Mary Lau, president of the Retail Association of Nevada, said: “If national forecasts hold true, a 10.5 percent increase in back-to-school spending would be fantastic news for Nevada retailers. However, increased national spending forecasts this past Christmas shopping season did not come to pass for many of them.

“Consequently, we remain cautiously optimistic that increased expectations for spending during this back-to-school shopping season will materialize within the state,” she said.

With Nevada having the highest unemployment rate in the nation at 14.2 percent as of June, “it seems somewhat unlikely that we will witness the extent of increases expected for the nation’s retailers,” Lau said.

The largest category of back-to-school spending is clothing, with families estimating they will spend $225 on pants, shirts, and jackets, among other apparel. The latest taxable sales results in Nevada suggest clothing sales are on the rise, with sales up 10.7 percent year-over-year for the month of May.

Overall Nevada taxable sales have been lagging for many months, however, with growth seen only once in 21 monthly reports through May 2010.

In the NRF survey, electronics were a close second, with families expecting to spend $182 on laptops, smart phones and MP3 players. Families expected to spend $103 on shoes, and finally, $96 on school supplies.

Families with college-aged students are expected to spend $616, down slightly from the previous year’s $618, on new apparel, furniture, school supplies and electronics. With the U.S. Census Bureau’s American Community Survey estimating 127,000 students enrolled in college and graduate programs in Nevada, this translates into an estimated additional $78 million spent by those requiring back-to-school purchases to pursue higher learning.

The Retail Association of Nevada also reports that in addition to having the highest unemployment rate in the nation, the state has one of the highest rates of homelessness among school children and school children living in poverty. Despite smatterings of positive developments in the state, challenging economic conditions may depress back-to-school expenditures for a significant number of families this season, the association said.

The data was generated for the association by Applied Analysis, a Nevada-based firm providing information and analyses for the public and private sectors.