In The News: Center for Business and Economic Research
Andrew Woods is a problem solver with a proven track record in economic development and policy. Out of college and living in Washington, D.C., he started his career working in politics with the goal of bringing change to underserved communities. He eventually ended up in Carson City working for the Nevada State Treasurer, where he was involved in several interest projects, ballot initiatives and was able to start his own company to help elect candidates to public office.
The pandemic hit Nevada hard, but it eventually eased and the state came back to life economically, just not as fast as the rest of the country. Though our unemployment rate is one of the highest in the country, it’s still around 5%, which economists have long said amounts to full employment. What’s hurting is inflation combined with a very low rate of wage growth.
Tope is one of the thousands of job seekers who exemplify Nevada’s changing labor force and how it reflects U.S. officials’ larger goals to tamp out inflation without causing a recession. Economists and decision-makers at the Federal Reserve are watching the labor market for clues.
In Part I of this article, I showed how economic growth has slowly declined in all major industrialized economies. I did my review based on 20 countries from around the world, including Australia and Japan, but the GDP growth problem is most pervasive in Europe.
When President Biden flies into Nevada on Monday and to Arizona the following day, he’s likely to compliment the West’s natural beauty, pay homage to the unmatched political power of the Culinary Workers Union and nod to local Democratic elected officials.
When President Biden flies into Nevada on Monday and to Arizona the following day, he’s likely to compliment the West’s natural beauty, pay homage to the unmatched political power of the Culinary Workers Union and nod to local Democratic elected officials. Another truth about his visit to the two Southwestern states may remain unspoken: Though together they are home to only about 3% of the U.S. population, Arizona and Nevada are expected to have an outsize influence on the outcome of the 2024 presidential race.
Nevada remains stuck at 5.3% unemployment despite job growth statistics that suggest there’s plenty of work out there. Why hasn’t the state’s unemployment rate returned to pre-pandemic levels, when it was around 3.6%? That was the lowest it had been since 1976, and it was roughly equal to the national average just before the COVID-19 lockdown four years ago.
Nevada remains stuck at 5.3% unemployment despite job growth statistics that suggest there’s plenty of work out there. Why hasn’t the state’s unemployment rate returned to pre-pandemic levels, when it was around 3.6%? That was the lowest it had been since 1976, and it was roughly equal to the national average just before the COVID-19 lockdown four years ago.
Southern Nevada’s economy is less diversified compared to other Mountain West metropolitan areas despite gains in key economic sectors over the past decade. The Nevada Governor’s Office of Economic Development (GOED) unveiled a study prepared by 51³Ô¹ÏÍøÍòÄÜ¿Æ´ó’s Brookings Mountain West, Center for Business and Economic Research (CBER) and Transportation Research Center that addresses key barriers and makes recommendations to strengthen and diversify the Southern Nevada economy.
Last month, the Super Bowl was held here in 51³Ô¹ÏÍøÃâ·ÑApp. The event had a significant economic impact on the Entertainment Capital of the World. Here to speak about that, as well as the state of the U.S. economy, is 51³Ô¹ÏÍøÍòÄÜ¿Æ´ó economics professor Stephen Miller. He is the Director of Research for the Center for Business and Economic Research at 51³Ô¹ÏÍøÍòÄÜ¿Æ´ó’s Lee Business School.
The Bitsize Business Breakfast Podcast goes on a discussion with Professor of Economics, Stephen Miller, regarding the inflation measure of 2.4% for January and the overall prospective future of the United States economy, especially with the election around the corner.
Restaurants across the valley are feeling the pain as fewer and fewer people are dining out.