The employment-to-population ratio is an alternative measure to unemployment, capturing the unemployed who leave the labor market over time. The duration of decline overtime is an indication of job growth needed to return to pre-downturn levels. Since 2006, the ratio declined through 2010, showing signs of improvement May 2011. Improvements started again spring 2012; the 2015 ratio improved 1.2% over the prior year, and are currently well above pre-recession levels.
Washoe County’s November 2018 ratio went above the highest level since TMT began tracking this measure in 1990, which went even higher September 2019. The unavailability of skilled labor could now become more of an issue in the short-term.