Posts Tagged ‘August’

Nevada Posts 26th Consecutive Taxable Sales Increase In August

By Nevada News Bureau Staff | 1:38 pm October 25th, 2012

CARSON CITY – Nevada recorded its 26th consecutive month of taxable sales increases in August, when consumers spent $3.7 billion on goods and services for a 7.6 percent jump over August 2011, the state Department of Taxation reported today.

The last decrease in statewide taxable sales came in June 2010, when a 0.3 percent decline was reported over June 2009.

Taxable sales grew by 8.1 percent in Clark County and jumped double-digits in Washoe County to 10.5 percent.

Nine of Nevada’s 17 counties recorded an increase in taxable sales for August 2012 compared to August 2011, with Carson City, Esmeralda, Eureka, Lander, Lyon, Mineral, Pershing, and White Pine counties showing declines.

All major taxable sales categories showed gains in August.

The largest increases were seen in the categories of Motor Vehicle and Parts Dealers, up 21.6 percent; Building Material and Garden Equipment and Supplies, up 36.9 percent; Clothing and Clothing Accessories, up 10.3 percent; General Merchandise Stores, up 6.9 percent; and Merchant Wholesalers-Durable Goods, up 9 percent.

Other major categories showing increases included the Construction Industry Classification, up 2.7 percent; Food and Beverage Stores, up 0.6 percent; Furniture and Home Furnishings, up 6 percent; Accommodations, up 12.2 percent; and Food Services and Drinking Places, up 2.4 percent.

Bryan Wachter, director of government affairs for the Retail Association of Nevada (RAN), said the increases in larger purchases, from vehicles to furniture, is particularly good news in the August taxable sales report.

“Furniture sales I think is a great indicator that hopefully, people are either renovating their houses or buying new furniture or possibly trying to furnish new homes,” he said. “I think that signals more of a confidence, and people are more secure, especially leading into the holiday season.

“We’re very positive looking forward, we’re very optimistic,” Wachter said. “We came up with a 6.8 percent increase in taxable sales for holiday goods this year over last year. I think this news confirms that we were probably justified in our optimism.”

In some good news for Gov. Brian Sandoval as he prepares his next two year budget, the General Fund portion of the sales and use taxes collected from the August taxable sales amounted to $73.1 million, an 8.4 percent increase over August 2011.

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Audio clips:

Bryan Wachter with RAN says the major purchases are an especially good sign for Nevada’s economy:

102512Wachter1 :19 the holiday season.”

Wachter says retailers are optimistic about a strong holiday shopping season:

102512Wachter2 :16 in our optimism.”

 

 

 

Nevada Jobless Rate Ticks Up To 12.1 Percent In August

By Sean Whaley | 10:57 am September 21st, 2012

CARSON CITY – Nevada’s unemployment rate ticked up one-tenth of a percentage point to 12.1 percent in August from July, the second month of increases in the jobless rate after hitting a three-year low in May, a state agency reported today.

The increase in the seasonally adjusted rate, coming after a jump of four-tenths of a percentage point in July, continues to make Nevada the state with the highest unemployment rate in the nation.

The rate is still well below the 13.8 percent jobless rate reported in August of 2011, the report from the state Department of Employment, Training and Rehabilitation (DETR) shows.

The Las Vegas area had an unadjusted jobless rate of 12.3 percent in August, while Reno-Sparks saw a 11.5 percent rate and Carson City stood at 11.6 percent.

Nevada’s economy is front and central in the presidential race, and will be a topic of comments in Mitt Romney’s visit to Las Vegas today. Both Romney and President Obama have made several trips to Nevada over the past few months. The frequent visits highlight Nevada’s importance as a battleground state in the race.

DETR Chief Economist Bill Anderson, in commenting on today’s August report, said that Nevada is mirroring the nation with its labor market having softened in recent months.

“Job growth has eased, and the unemployment rate has ticked up,” he said. “Still, year-over-year improvement is evident. Taken as a whole, labor market barometers point to the tenuous nature of the current economic environment, both nationally and here in Nevada.”

Based, at least in part, upon the results of a monthly survey of Nevada businesses, total nonfarm payrolls fell by 1,000 jobs in August, Anderson said. In every month this summer, employment fell on a month-over-month basis, resulting in a summer decline of 3,600 jobs. (The June to July change in non-farm payroll jobs was revised from a gain of 2,100 to a loss of 1,100.)

“As a result of falling job levels throughout the summer, Nevada’s over-the-year employment comparison appears less impressive,” he said. “Nonetheless, Nevada still has 5,200 more jobs than in August of last year, with a gain of 6,500 in the private sector partially offset by public sector losses.”

Gov. Brian Sandoval, who has made economic development and job creation a centerpiece of his administration and who is currently on a trade mission to the People’s Republic of China and South Korea, said: “While I am disappointed that Nevada experienced another slight uptick in the unemployment rate, I am encouraged by the fact that we continue to see signs of modest economic improvement, measured on a year-over-year basis, in these numbers.”

Sandoval acknowledged, however, that the slight improvement is not enough to sustain Nevada’s economy, “which is why we must continue to work to diversify our state’s economy and bring jobs to Nevada.”

As has been the case, throughout the 2012 election season, the candidates have weighed in on the latest jobless numbers.

Mason Harrison, a spokesman for the Romney campaign, said: “Today, we received more bad news from the Obama economy – more and more Nevadans are finding themselves unemployed. Nevada has seen unemployment continue to rise, despite President Obama’s promises to stop the bleeding of jobs.

“Mitt Romney will succeed where President Obama has failed by implementing a 5-point plan that will strengthen the middle class and create 12 million jobs across our country in his first term alone,” he said.

But U.S. Sen. Harry Reid, D-Nev., in a statement, said: “Today’s numbers highlight the critical importance of creating jobs. The best way to do that is to strengthen Nevada’s middle class and our small business community.

“I have been working with my Democratic colleagues to provide tax relief to middle class families, and to help small business owners expand and create jobs for hard working Nevadans. However, these commonsense measures have been met with unconditional obstruction by Senate and House Republicans, regardless of their potential to spur economic growth.”

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Audio clips:

DETR Chief Economist Bill Anderson says the national softening of the jobs market is affecting Nevada:

092112Anderson1 :16 the Nevada numbers.”

Anderson says Nevada’s rate of improvement is diminishing:

092112Anderson2 :30 of improvement diminish.”

Unemployment Rate Up Statewide

By Elizabeth Crum | 6:44 am September 16th, 2011

The statewide unemployment rate has increased to 13.4 percent, up from 12.9 percent in July. In all, 176,200 people were out of work in August.

Bowery men waiting in bread line in New York City / Library of Congress photo

Unemployment in Las Vegas rose for the fourth straight month. the Department of Employment, Training and Rehabilitation (DETR) reported this morning. The jobless rate jumped to 14.2 percent in August, up from 14 percent in the prior month.

Bill Anderson, chief economist for DETR, said the market is not improving as well as many would hope.

“The market continues to experience flat employment readings and an increasing jobless rate,” said Anderson in a statement. “The good news is that dramatic job losses have subsided; unfortunately, it is not enough to consistently bring the unemployment rate down. The poor condition of the construction industry continues to contribute heavily to Nevada’s economic stalemate.”

Employment levels have dropped 0.2 percent statewide since the beginning of the year, for a loss of 2,000 jobs.

The DETR report also showed increases in the number of longer-term unemployed. In the 12 month period ending in August, workers without jobs for more than 26 weeks accounted for half of Nevada’s unemployed.

“The ramifications of extended joblessness for this segment of the workforce are potentially profound and long lasting,” Anderson stated. “When a person is out of work for a long period of time, skills and experience diminish, making it more difficult to find employment as time goes on.”

Nationally, the unemployment rate was 9.1 percent in August.