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 CBER Clark County Construction index bounced back from last month's decline, posting a one month gain of 3.58 percent over the level for May. Construction jobs, which are down about 10,000 from June 2007 to June 2008, have remained steady since January 2008, down only 200 jobs. The one month bounce largely comes from residential permitting, an important measure often showing marked variation. All in all, weakness in the current housing market and expectations of continued weakness suggest that recovery in the construction sector will remain slow to come.
R. Keith Schwer
| Date | CONSTRUCTION INDEX | 5-MONTH MOVING AVERAGE | CHANGE PREVIOUS PERIOD | CHANGE YEAR AGO |
| June-07 | 149.16 | 158.70 | 0.76% | -16.26% |
| July-07 | 142.57 | 159.67 | 0.61% | -12.60% |
| August-07 | 173.19 | 179.64 | 12.51% | 3.82% |
| September-07 | 167.68 | 183.31 | 2.05% | 14.01% |
| October-07 | 265.59 | 177.96 | -2.92% | 11.78% |
| November-07 | 167.54 | 165.14 | -7.20% | 9.60% |
| December-07 | 115.82 | 157.69 | -4.51% | 6.52% |
| January-08 | 109.08 | 126.89 | -19.53% | -15.70% |
| February-08 | 130.43 | 115.66 | -8.85% | -24.96% |
| March-08 | 111.58 | 119.15 | 3.02% | -23.31% |
| April-08 | 111.36 | 126.09 | 5.82% | -20.09% |
| May-08 | 133.29 | 125.00 | -0.86% | -20.63% |
| June-08 | 143.78 | 129.48 | 3.58% | -18.41% |
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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