Construction unemployment jumps in Vegas

Thursday, Aug. 21, 2008 | 3 p.m.

CARSON CITY – Unemployment in the Las Vegas construction industry rose to 7.4 percent in July as projects were delayed.

The state Department of Employment, Training and Rehabilitation, said development on the Strip has been hurt by the nationwide credit crisis.

There were an estimated 94,600 employed in construction in Clark County this July compared to 103,800 for the same month of a year ago.

The overall unemployment rate for Clark County jumped to 6.8 percent, the highest point since June 1994, when it also reached 6.8 percent.

Bill Anderson, chief economist for the department said a “lack of liquidity has led to an indefinite delay of the multi-billion dollar Echelon Place Development.”

“Hopes for an economic turnaround in 2009 had been pinned to the new construction jobs the project would create,” he said. That hope has been tempered by the delay of Echelon Place and other projects, he said.

“On the positive note, projects with financing in place prior to the crisis appear to be moving forward despite reports of a cash crunch,” he said. City Center, Fontaineblue and Cosmopolitan are still scheduled to open over the next year or two.

While unemployment in Clark County rose from 6.5 percent to 6.8 percent, there were other counties where the picture was worse. The jobless rate in Lyon and Nye counties both hit 8.4 percent and it registered 7.4 percent in Mineral County.

Washoe County had 14,283 unemployed or a 6.2 percent rate, up from 4.3 percent in the same month of 2007.

The state rate of 6.6 percent is the highest it has been since July 1993.

Discussion: 7 comments so far…

By neiman1

8/21/08 at 3:29 p.m.

Suggest removal

This doesn't even count the number of workers that have left the city. How many jobs will this mean in the rest of the city as the impact is felt. Every construction job creates 5 other jobs in the economy. From the restuarants and the retail stores, to the barber shop and the recreation. They are all falling and next months numbers will be worse. It's the economy stupid, and energy drives the economy. Contact Harry Reid and tell him we need American energy resources for American jobs.

email link
http://reid.senate.gov/contact/index.cfm...

Las Vegas
Lloyd D. George Building
333 Las Vegas Boulevard South, Suite 8016
Las Vegas, NV 89101
Phone: 702-388-5020 / Fax: 702-388-5030
By NativeNevadian

8/21/08 at 7:29 p.m.

Suggest removal

This is good. What Las Vegas and the state of Nevada needs is NO GROWTH.
Why because it is a desert, that can only support "x" amount of people. Vegas, is going dry due to lack of water and stealing the water from up North is wrong, both on a moral level as well as an ecological level.
If people want to live here, than it is going to cost them plenty. No growth will improve everyones home value (look at Santa Barbara).
By neiman1

8/21/08 at 11:06 p.m.

Suggest removal

Lol. Las Vegas has casino's . Santa Barbara has an ocean
By homer

8/22/08 at 11:16 a.m.

Suggest removal

neiman1 , Why don't you contact Bush and ask him why he failed so miserably on an energy policy? Could it be he let the CEO's of energy companies develop this failed plan that is now in place, while ignoring energy experts? Or does it have more to do with Bush and Cheny lining their pockets with money from big oil and energy company lobbiests? For the frst four years of his term, when Republicans had control of both houses he refused to even talk to Democrats about energy. During his last four years he threatened veto's if he did not have it his way.
By homer

8/22/08 at 11:22 a.m.

Suggest removal

Santa Barbara has record high property taxes, declining property values,declining services because California is broke and beaches that will soon have oil rigs looking in on them thanks to Bush and McCain. If you are so unhappy in Nevada and California is so great what are doing here? No one has a gun to your head. It is still a some what free country atleast until Nikita McCain takes over.
By dbltrbl

8/22/08 at 7:06 p.m.

Suggest removal

It's been gaming and construction that have kept the southern Nevada economy afloat while so many other states were struggling. Now, the 'domino principle' is evident as it's not just the little guy hurting but the wealthy and long-established businesses that are hanging on by their fingernails. We're in deep trouble in the energy sector because the people in office who were put there to act in our best interests only acted in their own; through graft and greed they've made sure they took care of each other and every deep-pocket crony slurping at the trough. Shaking our head and walking away until 'next time' won't do anymore. After getting angry, get informed, then get involved. That doesn't mean heading to that cesspool in D.C., but right here - grassroots - Nevada!
By fremmasmind

8/23/08 at 5:57 a.m.

Suggest removal

It is the gaming and construction that breaths life into our economy, but when the gaming and construction industries hire more illegals than american citizens the economy does not have a chance to repair itself. When more americans are on the breadlines here in town, true, we can't put citizens from other states to work before the locals. But, if we would get rid of the illegal immigrants, we could put Nevadans and Americans back to work. Our Government should uphold the laws which have been written.