The Center for Business and Economic Research
University of Nevada, Las Vegas
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The Center for Business and Economic Research University of Nevada, Las Vegas
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The Clark County Construction Index continued its free fall in November 2009. The index is down over 25% year over year and 3.9% over October. Between October and November, Clark County lost 1,000 construction jobs, and a scant 299 residential permits were issued. Commercial permitting, at 20 units permitted, did not fare much better. Increased joblessness and slow permitting activity indicate that the construction sector is unlikely to see any improvement in 2010. Rather, we expect continued layoffs and stress for construction firms.
| Date | CONSTRUCTION INDEX | 5-MONTH MOVING AVERAGE | CHANGE PREVIOUS PERIOD | CHANGE YEAR AGO |
| November-08 | 97.43 | 98.85 | -10.58% | -40.26% |
| December-08 | 88.92 | 92.11 | -6.82% | -41.71% |
| January-09 | 78.14 | 87.69 | -4.80% | -31.32% |
| February-09 | 82.82 | 84.70 | -3.41% | -27.13% |
| March-09 | 91.13 | 82.83 | -2.21% | -30.67% |
| April-09 | 82.49 | 84.98 | 2.59% | -32.85% |
| May-09 | 79.56 | 84.44 | -0.63% | -33.12% |
| June-09 | 88.88 | 82.87 | -1.87% | -36.62% |
| July-09 | 80.15 | 80.84 | -2.45% | -38.69% |
| August-09 | 83.24 | 79.58 | -1.56% | -37.79% |
| September-09 | 72.36 | 75.64 | -4.95% | -36.22% |
| October-09 | 73.27 | 74.51 | -1.49% | -32.59% |
| November-09 | 69.18 | 71.61 | -3.90% | -27.56% |
The CBER Construction Index for Clark County is a simple average of three series -- construction employment, residential units permitted, and commercial units permitted. The series base period is January 1995. A 5 month moving average, computed to reduce month-to-month variation, is also shown. The series is not seasonally adjusted, no stable seasonal patterns were found.
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