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StumbleUNLV: No job growth in forecast through end of the year
Tiffany Brown / File photo
Nevada Job Connect is shown in December 2008, months after the nation’s economy began to sputter.
Tuesday, Aug. 31, 2010 | 11:08 a.m.
Sun Coverage
A UNLV economic index projects little employment growth in Southern Nevada over the next four to six months.
The August index released today by the Center for Business and Economic Research showed a .04 percent increase over July but 0.54 percent decline from August 2009.
The Southern Nevada Index of Leading Economic Indicators measures commercial and residential construction, visitors, retail sales, convention business and gambling revenues. The data are compiled through June.
“All the indicators are saying the same thing, employment growth in the next four to six months will be essentially flat,” the report said.
The report cited one positive in that the decrease between August 2009 and August 2010 was the smallest year-over-year decline since December 2007.
“This trend is encouraging but it is still too soon to draw any firm conclusions,” the report said. “The index must show sustained positive growth before we can expect the same with employment.”
Discussion: 3 comments so far…
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Locally owned and independent for more than 50 years.
And it took a group of inverted underwater basket weavers to tell us this.
Jim Gibbons still has a job?
John Ensign still has a job?
How is your life in Nevada?
@gbigs - do you expect Obama/Biden to magically create jobs and stimulate the economy? If you have kids, did you expect them to magically pop out of the womb the day the doc gave you news? If you have kids, did you magically expect them to start walking the day they popped out of the womb? See, in life there plenty of morons that listen and blame others when things don't happen as fast as you want them to happen. I heard 1.5 years ago that the economy would be booming again in 2010. Luckily I am not a moron who believes the hype and all of these so called experts. Here is a question for you..How quickly could you fix a house with pipe leaks, holes in the roof, bottom less floor, broken stairs, broken windows and only a $25 in the bank? Suppose I said you need to have it all fixed and painted so that it looks like a mansion in 2 weeks. You probably think you could do it.
@peaches..there a plenty of people with job in Vegas. Those two were voted in office and should have jobs. When the economy was fine nobody was pointing fingers..funny how things change when circumstances change. I suggest to those without jobs in Nevada move to find work. If it were me, I would move overseas to teach english in Japan or someother country. People are so dumbed down and tend to forget how to survive.
Nice negative angle.
Let's not forget the year ends at Thanksgiving, so whats that, three months left, coming off one of the worst years in history, no surprise.
Let's look at the positive, how many new companies came into Vegas, how many are growing in Q1/2011?
I know at least 4 companies in town looking to do some serious growth in 2011, plus another two companies that recently moved large corporate offices into Hughes Center this year.
What do they say about schools? Oh yah, people who can't get real jobs work at schools.
UNLV should worry about their own financial wellbeing before commenting on anything else.
Let's get some positive stats in the news please.
This is the perfect time to move to Vegas, and the perfect time to start your own company.
I don't now how this is obama fault.. When he got into office the economy was in a free fall.
Im happy at least were not what it was when BUSH was in power IE the free fall. He made us go into Iraq unnecessarily, lost so many lives, built up our debt from 7 to 11 trillion i think.
When Clinton left we were lowering our debt. Clinton said he would be doing most of the policies Obama was doing and is please at his performance. You will always get people complaining even so many people were complaining at Clinton. Then when he left everyone calls him a great man and great president.
Tbrownbag: for the amount of money thrown away in the stimulises each out of work person should have been given aboub $300,000.00 to retire on!
A tightwad talk radio show (on about 500 stations) out of Tennessee, tells people "gambling is stupid, don't eat out until your house is paid off, etc. ..." This has caused Las Vegas's economy to fail. Also, Rush Limbaugh's hope "I hope he fails," that Las Vegas and the rest of the country fails has hurt the economy as well. Obama can't fail, unless the country fails.
Dave Ramsey should be declared "persona non-Grata" in Nevada.
So much of the consumer and businesses willingness to spend and invest are based upon future expectations. The Obama Administration has a strong anti-business tilt to its agenda (employer mandated health insurance, support of unions right to organize easier, increase minimum wage, higher future taxes, etc.) does not encourage capital expenditures which means unemployment rates will stay high.
So when people question how Obama would be responsible for the lack of job creation, ask yourself, "What has Obama done to encourage companies to invest?" Only when business thinks profitability won't be siphoned off in the form of mandates, higher expenses and higher taxes will investors come back into capital expenditures.
"You blame bush wrongfully for the econ collapse, but give the messiah a pass after a trillion dollar failure?"
Some pesky facts gbigs doesn't want you to know:
The stimulus package is not a trillion dollars.
The total stimulus outlays through the end of 2010? 318 billion.
Did the stimulus succeed? It's an ongoing effort, with more spending in FY 2011, and throughout the next decade. Stimulus spending did pull the economy out of recession, with a return to positive growth for several quarters now.
Talk about short memories? Gbig's favorite president, George W Bush?
Under Bush, in 2008 ALONE:
Bush's $29 Billion bailout of Bear Sterns
Bush's $178 billion failed spring 2008 stimulus
Bush's $25 billion automaker bailout
Bush's $150 billion AIG bailout
Bush's $700 billion TARP bailout
Poor gbigs apparently was comatose, braindead or had amnesia in 2008.
Nothing stays on an even keel forever. What goes up, comes down. What comes down, goes up. It's the opportunists that make America survive and thrive. Right now in Southern Nevada, there is an opportunity to buy homes at prices that haven't been seen in 10-15 years. Hopefully, middle-age or retired people will see this opportunity and grab these homes.
The worst thing that can happen to a person is boredem, especially in old age. If a person lives in a place like Las Vegas as opposed to, say, Goodland, Kansas out in the boonies, then he/she will never get the boredom affliction. I know. My dad moved to Las Vegas from Denver, CO 15 years ago and hasn't regretted it since. He's having the time of his life and he is 93.
Meanwhile in Russia......
The "summer of recovery" continues.
At least all those "No Bureaucrat Left Behind" stimulus spending bills passed.
Sevenhills: The phrase is "Those who can do, Those who can't teach."
There is always something to do in Goodland,KS.
UNLV has many job ads on their website.
Looks like we have a way to go before things get better. The risk of a double dip recession in the national economy is very real in 2011. If so the recession will continue in Nevada well into 2012 or 2013. Things could get worse before they get better.
The indices point to more tough months ahead regardless if this is the case.
life is like a box of chocolates, you never know what you're gonna get!
@gbigs:
16% of Americans on Medicaid
13.5% of Americans on Supplemental Nutrition Assistance Program
4.8% of Americans unemployed (10% doesn't mean of ALL 300+ MILLION Americans, you dope)
1% of Americans on welfare (I assume you mean Temporary Assistance for Needy Families - I doubled a right-wing estimate of 1.7 million in 2009 to get a number over 1%)
I won't argue your Debt/Deficit numbers, but I don't think you can blame it on one PERSON. You CAN, however blame it on two groups. The REPUBLICANS & DEMOCRATS. When we stop voting and making decisions about people based on the letter in parentheses after their name, and base it on what they actually DO, we'll all be a lot better off.
Thanks Harry - you and the Commander in Chump sure are doing
a Great job.. Dummies.
repeal the health care and financial bills and then maybe they will start to expand.
Maybe you can help then decipher the combined 5000 thousand pages of rules
and regulations?
there will be no recovery till business knows the rules.
this marxist used car sales man sure has created a mess.
I can't see a nickels worth of difference myself.Different party,same results.All I know is it is obvious neither is working for me .Who is that behind the curtain.Oh,hello corporate lobbiests & donors,what do you have in store for us today?You say what,I have to bend over to get it ,what for?
Talk about short memories? Gbig's favorite president, George W Bush?
"Under Bush, in 2008 ALONE:
Bush's $29 Billion bailout of Bear Sterns
Bush's $178 billion failed spring 2008 stimulus
Bush's $25 billion automaker bailout
Bush's $150 billion AIG bailout
Bush's $700 billion TARP bailout
Poor gbigs apparently was comatose, braindead or had amnesia in 2008."
LOOOOOL