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Index: No quick recovery for Southern Nevada
Friday, July 30, 2010 | 4:12 p.m.
The July index that forecasts the Southern Nevada economy and job growth through Nov. 1 shows no promise of a quick recovery.
The Southern Nevada Index of Leading Economic Indicators released Friday recorded a 0.57 percent decline from the June index and 0.57 decline from the July 2009 index.
The index calculated by the Center for Business and Economic Research at UNLV measures data from May. It listed visitor volume and convention attendance as helping push the index up while taxable sales, passenger counts and gaming revenue pulled it down.
“The series exerting the largest drag on the index was taxable sales,” according to report. “Weakness is current spending patterns indicates weak job growth in the near future.”
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Ground hog day all over again...
Hey Senator Reid How that Jobless recovery going?
you phony
KMA
fumiko: I'm no big fan of Reid, but please tell me Angle's plan for job growth in Nevada. Details, please.
Its really too bad that the alternative to voting for Harry Reid is Sharon Angle. I am not sure she is really the answer for Nevada.
At least Harry Reid holds a prominent position in Washington and will help keep Nevada in the news.
That's what happens when you build an economy on mass speculation, exploitation, urban sprawl, and unsustainable growth.
If you closely look at where gaming is going, the situation may get MUCH worse in Las Vegas.
And leaders do not have an alternative vision for the area, other than to continue on the same path. They speak of education, but public education will continue to be gutted.
Without progressive leadership, it will increasingly be a place of haves and have nots. It will be "the last Detroit," but not in the way historian Hal Rothman imagined.
But it will bring us to our Libertarian Paradise much much sooner than expected.
Remove the word "quick" and then you have an accurate headline.
"Tap Out" Vegas!
Las Vegas needs desperately to downsize if it is going to survive...
Anyone who thinks Angle has any soulutions needs a lobotomy......she's clueless as they come and already admitted as much.
I agree with environprotector on this one. The City has to downsize. The question is, how many casinos and how much population will be able to be sustained.
We've got to quit thinking that it's a Reid or Angle thing. It's an "us" thing. We've all got to get involved with what goes on with everything from the GCB, to the lack of taxes, to the lack of education and infrastructure, to economic diversity, etc. The people I know who could help make the changes won't because we think that if somebody runs for office we get to write a story about their gay daughter or their sister who went to prison. We truly focus on all the wrong things. We are in a stalemate over things like abortion or gun control so we don't vote on economic prosperity, just whether or not a canditate is for or against a couple of things that don't affect the economy.
You get what you vote for.
You have paid your money - now take your pick.
For my money I pick __________________.
(hint: A little bit of something beats a whole lot of nothing).
It's interesting that the people in Nevada have a tendency to pick the most unusual solution (i.e., the right way, the wrong way, and the Nevada way)
Hey guys.... Vegas has no growth because Harry Reid's Amerika has and will have 9+% unemployment from now until as far as the eye can see.
With Vegas having such a strong emphasis on the hospitality industry, and with no one in Harry Reid's Amerika having any money left over after paying bills to come and enjoy Vegas, it's no wonder the Vegas economy is in the ditch and staying there.
This is simple economics. IF people in all of America are working and prosperous, those people have MONEY top spend in Vegas if they want to. If they aren't...they don't... and you guys don't get it from them .....because they never had it to begin with.
You all can thank Harry Reid and his vision of Amerika for setting the wheels in motion that are running over you all now.
Your problem is America's problem and that problem is named Harry Reid. You can fix that ... we can't.
It's the economy, stupid!
The Blame Bush card has expired. The current administration can no longer blame their predecessors.
It's Obama's watch now.
It's the Obama-Reid-Pelosi economy now.
If Harry Reid knew how to solve this problem, he would have done something by now. Sure we can't expect them to turn the Ship of State around in a short time, but just a little something that shows they know how to get positive results would be nice. But everything they've tried just makes the economy worse.
It's time for a change. Harry Reid must be retired.
It's time for some fresh, new, bold ideas!
Same 'ol, same'ol isn't working anymore.
Las Vegas needs to diversify its economy. It needs more Manufacturing, Aerospace jobs, automotive jobs, and much more engineering jobs. It needs more automotive and aerospace suppiers. It needs to stop depending on tourism and the service industry. Than maybe things will pick up here. I am stuck contracting as an engineer out of this state. I wish I can come back
"No quick recovery for Southern Nevada"
Now that's some true investigative reporting.
Tomorrows headline: Summers are hot in Las Vegas.
We certainly CAN still blame Bush. He created such an economic disaster that it will take years to recover. Those of you who read know perfectly well that there have been positive steps toward recovery since the current administration took over.
Further, I agree with all of those who say we in Nevada have to share the blame, believing that the hospitality bubble would never burst, thinking that any increase in taxes is a bad idea. Unfortunately, the whole country has fallen for the 'low taxes are good' myth. Without taxes, there's no money for schools, roads, infrastructure, police, etc. A vote for any Republican is a vote to go backwards into a deeper recession.
The Bushs' created this mess and Obama must fix it. What we know is regardless of who is elected, history tells us that recovery will take another 5-7 years and the whole thing will repeat itself in 12-13 year cycles. Voting for Angle who believes she is doing God's calling is way more scary than Reid, who at least is not a nutbar.
Nice job reporting the obvious, now tell us something we don't know like how the stimulus money was spent in Clark County, how many jobs it created and in what areas.
The "Blame Bush" card (or "Blame St. Ronald" card, for that matter) card has NOT expired, and it will not expire until two unneccessary and incredibly expensive wars are ended (you who bleat that "withdrawl means defeat" have apparently failed to notice the reality that the USA hasn't been on the winning end of a war since 1945), and the ongoing and obscenely ridiculous tax cuts for major corporations and the super-rich are rescinded. Once these enormous and unreasonable burdens are lifted once and for all, the government will be able to finance the economic, infrastructure and educational recoveries the country sorely needs and the vast majority of the American public deserves. To do anything else carries with it the attendant possibility that the USA basically becomes a Third-World country within a generation. The good news is that those of you that find some sort of sick pleasure in seeing the Obama administration blindly grope its way through the mess his predecessor left for him will be able to complain about those less fortunate than yourselves for the rest of your lives. The bad news is that in the current political/economic climate the undereducated, the underemployed, the uncompensated unemployed and the homeless are going to continue to swell in number. If things carry on the way they're going, those less fortunate than you are going to be with us, in great and growing numbers, forever and always - they aren't going anywhere ... except maybe into your homes, to take whatever Stuff you hold dear in order to survive. It's already happening to those of us down on the flats. How long do you really think the less-fortunate are going to let you hide behind your walls and gates up there on the hill? It really isn't that hard to get into one of your lovely communities up there, and I'll bet most of those you so disdain are much better armed than most of you (or your low-wage rent-a-cop guards and patrols - you really think they're going to take a bullet for you?) are, too. Have a blessed Sunday, "Christians."
Turning this news into a testament against Senator Harry Reid is getting old...and disgusting.
I'm so tired of the right wing nuts all turning anything and everything that's reported in the news as some kind of Islamo Nazi Communist plot orchestrated by Senator Reid. It's old. Find a new line.
Because that don't cut it. We see who can help us. And it sure ain't Sharron Angle.
You vote Sharron Angle into office it would be the same as voting for Paris Hilton to judge a talent contest. Because Paris Hilton sure don't have any talent and Sharron Angle don't have a political savvy bone in her body. And if she does? It's mired in the politics circa 1832.
My vote goes for Senator Reid. You losers can paint a picture of him that don't reflect reality, but I have to call you out on your neo conservative bias. It just is not based on fact.
las vegas will never diversify its economy. just look at the mayor.
what is he spending all his effort on?
that's right, a pro sports stadium.
more $9.00 per hour jobs that require no education or skills.
Back in 2005-6 time frame, my sister-in-law and her husband told us to invest or move to LV because Qualcomm was going to build an office in LV.
I wonder what happened to that? does anyone still recollect such headline?
We are not alone, the rest of America will follow us down the toilet. Crushing national debt, we make nothing, save nothing, we are growing government, not the private sector, you can't do both, private sector is where jobs come from. Printing of our silly dollar looms, when China cuts us off, that will really be interesting.
The recovery for NV will be slow because we do not have a diversified economy. Gibbons and his obstinate government have done little, if anything to encourage in-state business start up companies.
Trying to lure companies to relocate to Nevada because there is no personal or corporate income tax will no work because our health care, education, and physical infrastructure has been neglected.
Companies have families and families want to live somewhere where there is a quality health care system, a quality education system, and a decent physical infrastructure.