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Clark County – Unemployment History 2024

Unemployment Word Cloud

Unemployment statistics are among the most critical indicators used to assess the health and stability of a local economy. These statistics provide valuable insights into labor market conditions, economic growth, and social well-being, helping policymakers, businesses, and researchers make informed decisions. Understanding unemployment trends allows stakeholders to identify economic strengths, weaknesses, and necessary interventions to foster sustainable development.

  1. Measuring Economic Health Unemployment rates serve as a barometer for the overall economic performance of a local economy. A low unemployment rate typically indicates a robust economy where businesses are expanding, consumer spending is strong, and job opportunities are plentiful. Conversely, high unemployment suggests economic distress, such as business closures, reduced consumer demand, or industrial decline. By tracking these trends, economists and local governments can gauge whether the economy is growing, stagnating, or contracting.

  2. Informing Policy Decisions Governments and policymakers rely on unemployment data to design and implement effective economic strategies. For instance, if a local economy experiences rising unemployment, policymakers might introduce job training programs, tax incentives for businesses, or infrastructure projects to stimulate employment. Conversely, if unemployment is too low, it may signal labor shortages, prompting policies that encourage workforce participation, such as childcare support or immigration adjustments. Without accurate unemployment statistics, policymakers would struggle to address labor market challenges effectively.

  3. Assessing Labor Market Dynamics Unemployment statistics reveal more than just joblessness-they highlight structural issues within the labor market. For example:
    • Frictional Unemployment (short-term joblessness due to workers transitioning between jobs) indicates a dynamic economy with fluid job mobility.
    • Structural Unemployment (mismatches between workers' skills and job openings) suggests a need for education and retraining programs.
    • Cyclical Unemployment (job losses due to economic downturns) calls for stimulus measures to revive demand.


    By analyzing these categories, local leaders can tailor workforce development initiatives to address specific labor market inefficiencies.

  4. Impact on Consumer Spending and Business Confidence Employment levels directly influence consumer spending, which drives local economic activity. High unemployment reduces disposable income, leading to lower retail sales, decreased tax revenues, and potential business cutbacks. Conversely, low unemployment boosts consumer confidence and spending, encouraging business expansion and investment. Businesses also monitor unemployment trends to assess labor availability and plan hiring strategies accordingly.

  5. Identifying Regional Disparities Unemployment statistics help identify disparities between different regions, industries, or demographic groups within a local economy. For example, certain areas may suffer from higher unemployment due to the decline of a dominant industry (e.g., manufacturing), while others thrive in growing sectors (e.g., technology). Similarly, youth or minority unemployment rates may be disproportionately high, signaling the need for targeted social and economic programs.

  6. Influencing Investment and Development Investors and developers use unemployment data to assess the viability of local markets. A high-unemployment region may deter investment due to reduced consumer demand, whereas areas with strong employment growth attract businesses and infrastructure projects. Municipalities can leverage favorable unemployment statistics to promote economic development and attract new industries.


Conclusion

Unemployment statistics are indispensable for understanding the local economy's dynamics, strengths, and challenges. They guide policy formulation, highlight labor market inefficiencies, influence business and consumer behavior, and help address socioeconomic disparities. By continuously monitoring and analyzing unemployment trends, local economies can implement proactive measures to ensure stability, growth, and equitable opportunities for all residents.

 
Quarter
Labor Pool
Employed
Unemployed
    Unemployment Rate %
     
1990 Q1 46044317  3.7  bar
Q2 49848414  2.8  bar
Q3 61159615  2.5  bar
Q4 60459212  2.0  bar
 
1991 Q1 45744314  3.1  bar
Q2 55654115  2.7  bar
Q3 74573510  1.3  bar
Q4 64963811  1.7  bar
 
1992 Q1 53048743  8.1  bar
Q2 58956128  4.8  bar
Q3 78776225  3.2  bar
Q4 68666917  2.5  bar
 
1993 Q1 42839137  8.6  bar
Q2 55952732  5.7  bar
Q3 42440717  4.0  bar
Q4 41640214  3.4  bar
 
1994 Q1 51347043  8.4  bar
Q2 57454727  4.7  bar
Q3 70969217  2.4  bar
Q4 76473826  3.4  bar
 
1995 Q1 50947237  7.3  bar
Q2 58355627  4.6  bar
Q3 73671026  3.5  bar
Q4 78476024  3.1  bar
 
1996 Q1 46143229  6.3  bar
Q2 59557718  3.0  bar
Q3 76774918  2.3  bar
Q4 82280022  2.7  bar
 
1997 Q1 57053634  6.0  bar
Q2 61558530  4.9  bar
Q3 61659719  3.1  bar
Q4 64962425  3.9  bar
 
1998 Q1 57253735  6.1  bar
Q2 59056822  3.7  bar
Q3 62159922  3.5  bar
Q4 64362518  2.8  bar
 
1999 Q1 55051931  5.6  bar
Q2 55253715  2.7  bar
Q3 55354112  2.2  bar
Q4 60759413  2.1  bar
 
2000 Q1 48744938  7.8  bar
Q2 53050624  4.5  bar
Q3 56453925  4.4  bar
Q4 57155417  3.0  bar
 
2001 Q1 51747542  8.1  bar
Q2 54351726  4.8  bar
Q3 60859018  3.0  bar
Q4 60058119  3.2  bar
 
2002 Q1 50445846  9.1  bar
Q2 48645828  5.8  bar
Q3 52350122  4.2  bar
Q4 55653521  3.8  bar
 
2003 Q1 49945841  8.2  bar
Q2 51949326  5.0  bar
Q3 56154219  3.4  bar
Q4 60959019  3.1  bar
 
2004 Q1 54249052  9.6  bar
Q2 55250052  9.4  bar
Q3 52149229  5.6  bar
Q4 60857038  6.3  bar
 
2005 Q1 48244834  7.1  bar
Q2 52850028  5.3  bar
Q3 55953326  4.7  bar
Q4 62460519  3.0  bar
 
2006 Q1 49946831  6.2  bar
Q2 50548322  4.4  bar
Q3 53752215  2.8  bar
Q4 5845759  1.5  bar
 
2007 Q1 50848820  3.9  bar
Q2 54953811  2.0  bar
Q3 5755678  1.4  bar
Q4 61460410  1.6  bar
 
2008 Q1 56654818  3.2  bar
Q2 60859612  2.0  bar
Q3 61559619  3.1  bar
Q4 63261517  2.7  bar
 
2009 Q1 52648838  7.2  bar
Q2 56453628  5.0  bar
Q3 58855434  5.8  bar
Q4 58255725  4.3  bar
 
2010 Q1 46639670  15.0  bar
Q2 53849642  7.8  bar
Q3 55351538  6.9  bar
Q4 57753443  7.5  bar
 
2011 Q1 49843266  13.3  bar
Q2 51647046  8.9  bar
Q3 52848543  8.1  bar
Q4 56953534  6.0  bar
 
2012 Q1 39134447  12.0  bar
Q2 42138833  7.8  bar
Q3 43039832  7.4  bar
Q4 45843226  5.7  bar
 
2013 Q1 41336746  11.1  bar
Q2 42639630  7.0  bar
Q3 43240527  6.3  bar
Q4 45742334  7.4  bar
 
2014 Q1 39936237  9.3  bar
Q2 42941019  4.4  bar
Q3 45844315  3.3  bar
Q4 56955811  1.9  bar
 
2015 Q1 35633818  5.1  bar
Q2 39137912  3.1  bar
Q3 41540312  2.9  bar
Q4 42741413  3.0  bar
 
2016 Q1 36434618  4.9  bar
Q2 37936910  2.6  bar
Q3 41340211  2.7  bar
Q4 42541312  2.8  bar
 
2017 Q1 36735314  3.8  bar
Q2 39338112  3.1  bar
Q3 4314229  2.1  bar
Q4 42841612  2.8  bar
 
2018 Q1 36635115  4.1  bar
Q2 38036812  3.2  bar
Q3 4174098  1.9  bar
Q4 40739512  2.9  bar
 
2019 Q1 34532718  5.2  bar
Q2 36835711  3.0  bar
Q3 38937514  3.6  bar
Q4 41340013  3.1  bar
 
2020 Q1 32530718  5.5  bar
Q2 35133417  4.8  bar
Q3 33131516  4.8  bar
Q4 3283208  2.4  bar
 
2021 Q1 31630313  4.1  bar
Q2 33332211  3.3  bar
Q3 3333249  2.7  bar
Q4 3113029  2.9  bar
 
2022 Q1 32130615  4.7  bar
Q2 35934415  4.2  bar
Q3 37336211  2.9  bar
Q4 32231012  3.7  bar
 
2023 Q1 32330122  6.8  bar
Q2 35033515  4.3  bar
Q3 33732710  3.0  bar
Q4 31730611  3.5  bar
 
2024 Q1 31430113  4.1  bar
Q2 35033317  4.9  bar
Q3 38537114  3.6  bar
Q4 34533015  4.3  bar
 


Sources: STI: Colossus