Las Vegas Economy Hangs by a Thread
A turnaround in Nevada's economy hinges on recovery in the national economy, a university economist stated this week.
The state needs tourism and gambling to improve, and a turnaround won't happen for Las Vegas if the nation sees another dip once current federal stimulus spending ends. Many fear that a double-dip recession could be devastating for Nevada.
Southern Nevada’s job crisis is also likely to extend into next year, economists with UNLV’s Center for Business and Economic Research reported Tuesday.
Their report on the area’s economic outlook was summed up early with one word: grim. At a time of already record unemployment, the panel said the loss of jobs, specifically in the construction industry, means signs of economic improvement are unlikely in the next six months.
