L A S VEG A S RESE ARCH
JOBSWHAT WE LOST!
We have September job numbers now, and they do show improvement in the Valley in most sectors, though not all. The job situation has been improving since April, but the job gains have been stubbornly slow, no doubt due to continued disruption of business as usual – and especially due to the disruption of the hospitality industry, especially in terms of conventions. Comparing September job numbers to March numbers – the last pre-business closure numbers we had – reveals some surprises. The industrial real estate market, for example, is doing quite well in the Valley,
NOVEMBER 2020
so it is slightly surprising that the sector is still down 17,467 jobs, after losing 30,642 jobs from March to
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April. By comparison, the office sector lost 18,928 jobs from March to April, and in September is down 6,930. To put it another way, office has regained 63 percent of the jobs it lost, while industrial has only regained 43 percent of its lost jobs. John Matt Stater Research & GIS Manager, SW Las Vegas - john.stater@colliers.com
