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Published Thursday, June 17, 2010 | 6:26 p.m.
Updated Friday, June 18, 2010 | 9:03 a.m.
Sun Topics
CARSON CITY – Nevada’s unemployment rate soared to a record 14 percent in May, giving it the dubious distinction of having the highest jobless rate in the nation.
The Las Vegas area recorded a 14.1 percent rate of unemployment, the 17th straight month of double-digit figures. But the Las Vegas rate actually dropped from 14.2 percent in April.
There were 138,100 people out of work in Southern Nevada, down from 140,000 in April.
The state Department of Employment, Training and Rehabilitation said Nevada surpassed Michigan, whose rate fell from 14 to 13.6 percent. Michigan had the highest rate for 50 months.
The nation’s rate was 9.7 percent and California posted a 12.6 percent unemployment figure in May.
Nevada employers added 4,800 jobs in May, but most of the increase was seasonal or temporary census hiring, the agency said.
There were some positive signs in the Las Vegas area. Total employment rose to 980,500, up 1,300 workers from April. The casino and hotel business added 400 workers, putting the total in May at 154,500.
The construction business in the Las Vegas area showed some signs of improvement. There were 48,400 people employed in that sector, up 1,000 from the previous month. There had been a steady decline in construction industry employment for more than a year.
Manufacturing employment in Southern Nevada had 20,200 on the job, up 200 from April, while utilities, transportation and trade remained at 141,900 employed.
The state said, “In a somewhat alarming reversal of recent trends, the education and health services sector lost 1,500 jobs” statewide.
Most of the losses came from training providers in vocational and technical schools, and small private practice medical and dental offices, the agency said.
The total unemployment in Nevada stood at 189,300 people.
Unemployment in the Reno-Sparks area declined from 13.5 percent in April to 13.3 percent in May with 30,300 people looking for work. Carson City’s rate fell from 13.5 percent in April to 13.2 percent in May with 3,800 in search of a job.
Senate Majority Leader Harry Reid said in a statement Thursday evening the jobless rate shows Nevada continues to struggle through the economic downturn.
"This increase in our unemployment rate only emphasizes the need to diversify our state’s economy and create jobs. Not every solution can come out of Washington but I am working every day to attract new businesses and industries to our state, including those that will put people to work by making Nevada the leader in developing clean energy. Through tax cuts for businesses and other incentives, we have prevented this bad situation from becoming even worse," Reid said. "New companies are coming to Nevada, but the reality is that there is still a lot more work to do before we dig ourselves out of this economic hole."
Another positive article by the Las Vegas Sun. Give me a break already!!!
Remember this story everyone when you are presented at the voting booth in November with the choice to get rid of Reid..
Angle: "Not my job 2 create jobs." Calls unemployed "Spoiled." http://bit.ly/cGpqqf
want your job back?
vote republican. they will lower taxes and businesses will have more money to hire people.
Supplied-side economics never worked
Republians war on the middle class is almost complete.
Now nut bag Angle wants to finish the job.
haha!
the REPUBLICAN'S war on the middle class?
lmao.
please enlighten us on your logic.
Re-elect Harry and stay at home on the welfare roll. Sure beats sweating your butt off...
Thanks Harry Reid for all you do for Nevada...You will be added to the unemployed numbers come this Nov. Living in that Penthouse in DC is a long way from Nevada. You have lost touch!!........
By the way VOTERS of Nevada. I sure hope a lot of you get off your butts and VOTE in the Nov election. A 26% turnout in the early primary was a DISGRACE...Do your homework and research what SHARON ANGLE is really about. Don't rely on the news media or the so-called Reid commercials. If you don't vote , you have NOTHING to complain about!!
Your absolutely right Harry, "no one can do more." Obama=Reid
Eliminate the modified business tax - it penalizes companies for every dollar they pay every employee. Abandon all talk of raising taxes and adopt a TABOR/TASC style amendment to ensure businesses that Nevada will have a stable environment to create jobs. Finally, abandon the 14 percent minimum wage increase that will hit the state in a few weeks and likely further reduce employment.
This is really the type of worthless "positive" statements by Harry Reid. In other words, Harry wants more subsidies, this is how the Democrats improve things. Like give "stimulous funds" to overpaid municipal union workers to prevent them from making concessions. In fact that kind of stimulous money is completely wasted in time, and does nothing for the hard core unemployed--but maybe they don't vote Democratic anyway!
As for Angle, I would not believe anything said here. Let Angle tell us her side, which I am sure is very different from the worthless bloggers here, some who probably hope to get paid $3/hr or $5/hr for spouting their propaganda.
Remember the case of Mazzeo who made charges against Gibbons in the last two days before the election. Jon was estatic and was certain it would turn the tide againsts Gibbons, but rural Nevada could care less. The same with Angle, they can pop off and go banannas attacking her, but she is not responsible for the state of Nevada, like the 14% unemployment--in case you have not thought about it.
Reid says that the increase only emphasizes the need to diversify. Beg to differ what it means is we need to get rid of him and this useless governing body we have to put up with. We need people back to work Harry that will solve the problems we face and you and Obama and Pelosi don't know how to do it. Retire already!!!!!!!!!!
I got injured saving my family home from a fire. Burned 25% of my body. I wasn't able to work, Now that I can, I can't even get a Wal-Mart job, let alone a position in the field I was in.That check that I have paid into for over 30 years is keeping the lights on and when I go to the store, it keeps another person employed. I do understand that there are people that use programs, most of them barely speak English. How may estimated illegals in Nevada and how many estimated unemployed ?
Call the unemployment office 702-486-0350 a Mexican greets you...
I wounder if Real Americans would have as much of a problem with the Hispanics if they spoke English and didn't try to change the language of the Country that is on the money they send to Mexico... When the great immigration in the last century, they all assimilated into Americans.Most of the trouble the Hispanics have, they caused themselves.Come to America the way all of our Fathers did and BECOME Americans.
Funny how the Reids like to state the obvious after the fact. What has Harry done during his tenure to "diversify" the Nevada economy? Instead of trying to entice other industries he was busy pushing for financing for City Center and his buddy Jim Murren. How many "obamacare" style bribes did Harry use to get that done. And now a finished City Center sits 3/4 empty most of the time. And now Rory is campaigning to fix the counties "unsustainable" union contracts. Who was head of the commission who approved these ridiculous contracts? Rory Reid. Can't wait till Harry and Son are gone from Nevada politics for good. This place was much better as a red state.
You people do realize that Reid is a senator and not the governor, right?
with new looming job cuts expect things to get much worse
unfortunately due to the stupidity of people wanting bigger flashier houses, expecting them to go up in value forever and greed attached to this, started this depression, expect it to get worse as the governments and states have to cut their budgets and costs in order to stop their credit ratings turning into junk and then ending up like Greece.
None of this has to do with who you vote for now!!!
no construction no work this city and state didn't diversified
Saw article on CNN where some employers with job openings will not interview unemployed people. They only want people who are currently employed who are looking to switch jobs. Nokia was one of those companies. Disgusting.
Reid/Obama/Pelosi/Titus/Berkley...... they have been working hard shoving ObamaCare down our throats. They been hard working on other crap to shove down our throats.
They gave us Cash for Clunkers and Cash for Losing Corporations in other states.
They are hard at work.
I just hope they get around to put some focus on the whole jobs thingy and economy thingy.
Perhaps first they should stop their war on businesses.
That would be a good way to start.
decreased tourism = no construction = no new jobs for vegas.
"due to the stupidity of people wanting bigger flashier houses, expecting them to go up in value forever and greed"
haha, ya...those horrible people wanting to own a home. how DARE those people, huh?
i guess they should have squirted out 3 kids and lived off welfare, right?
stevem
yeh they were stupid, they were riding the wave of houseprices hoping to make money, not looking for a home to live in, it is clear you don't understand what has happened..
The way to solve this problem is for the casinos to completely avoid
6/5 blackjack and make it even 5/5.
This has nothing to do with Reid, Dems, Republicans, etc.
Why cant Nevadans accept that we allowed this crash to happen ourselves????
the majority of the unemployed are construction because of the building book in 2004-2007 when houses were being built for basically nobody. They were being built as "stocks", staying empty and changing hands like a deck of cards.
Had NEVADA (not Reid, Repubs, Dems et all) watched its own pot and made sure that loans were above the board and stopped then insanity of people with $50,000 income buying 15 houses, we would be in better shape.
If Reid could actually wield enough power to destroy a State it would be amazing. It was not one man or anything like that.
As far as Nevada goes, we only have ourselves and our greed to blame.
So stop pointing fingers.
Let's blame Harry Reid for our dumb people and dumb policy. Harry is working for us in DC. We are not working for us here. We continue to stick to gaming as usual while megawatts fall against us.
We sell sex and drugs and get-rich-quick schemes with booze just like we did in the last century.
We built houses for nobody and funded schools for illegals. They came. (the illegals, not the others)
Let's blame Harry for our stupid mistakes, Nevada.
I suspect that in the coming months the rate will go up even more.I've heard the rumors that the economy is improving yet the details shows virtually no improvement. Bank closings will continue to rise, credit is still hard to get and the strain on the financial sector will continue to hamper growth in all industries...except government jobs. When they raise taxes to start paying for all the new programs combined with a certain increase in interest rates the double dip recession will appear. The only problem is it will turn into a depression that will take years to work out. Also expect some sort of international incident that will resemble "wag the dog" near the time of the 2012 elections. Remember, you can't waste a good crisis...even if it's manufactured.
It is state level and local leaders that have continued to put all their eggs into gaming and tourism. Approvals of Master Plan Communities and the idea of a casino being the economic anchor to the community to employee the residents. Saturation sets in and diversification is what is called for.
Bring something new, manufacturing, research, or a new drawer in tourism that does not relate to gaming. Low business tax, inexpensive land and more are finally a foot and we need to capitalize today, not 2-5 years when those items might change.
In the last few months solar, wind and furniture companies have announced manufacturing that will hire over 2,000 employees combined when at full capacity. It will take time for them to ramp up, often not fast enough for many, but they are investing in our state and for that we need to be grateful.
This is true trickle down economics, employ more locals which means they spend more which means local business services can hire more people.
Not give tax breaks to the rich and hope it trickles down, often greed and larger profit margins are rewarded which does not help the average person any quicker then a robust economy.
Be careful and understand the full truth before one sets blame. The economy is like a large ocean tanker, it does not stop or start quickly and does not turn around on a dime. Years of mismanagement often don't show up until years later and we can't expect miracles overnight.
Patience and level heads need to prevail to ensure greed and mismanagement does not cause a repeat that could lead into a larger dip then what we just went through.
If you go to the voting box later this year, I won't tell you how to vote in each race, but I will tell you to vote with your head and not your feelings. Do your research beyond party lines and make the best choice for your community, state and nation.
If you really think it's as simple as blaming an individual for the stupid personal financial decisions of millions in this state and across our country, then you are either a cultist of one party or still read Dr. Seuss books.
We got ourselves into this mess. Sure, there were many predatory lenders, et al, but for all the Republican talk of personal responsibility, I see a lot of myopic finger pointing.
Again, this is really representative of a local and state economy that has really no more than two or three main drivers at best, and a relatively uneducated work force.
Simply look across the country at which local and state economies are more deeply impacted and you'll see those areas dependent on one or two industries.
This is beyond Dems, Reps or independents.
Cadaver- Nevada is among the worst states to match Federal funds. That's this state's fault, not Reid's.
And we pay Reid to tell us to diversify? What does that mean? Its more political nonsense.
Remember when Obama trashed coming to Vegas? Where was Reid then? NOWHERE TO BE FOUND.
But when Obama came to Vegas to stump for Reid's re-election, Reid was gushing all over Obama.
We deserve someone better than Reid, or his offspring. The apple doesnt fall far from the tree. He couldnt even get rid of Yucca mountain. Its still there in the wings, waiting for funding.
The only thing Reid could do is push for the huge entitlement program with health care, which is going to bankrupt us and cause massive inflation. We have to live with it, he will be retired and perhaps even dead, and he gets super health care free anyway.
Give sleaze Harry a break. He has only been in office for 24 years. His reelection slogan I'm working why can't you? How many government workers have been laid off in this recession?
i think it's clear that YOU don't understand what happened. see, i know you're a liberal and you're kinda slow, but see...people buy homes as an investment. there was nothing wrong in what they did.
how about all the bad loans that your liberal buddies barney frank and bill clinton "white guilted" banks into making to people that should have NEVER gotten a loan?
you libs seems to always gloss right over that.
"google" foreclosure rates by race.
i think you're just jealous you don't make enough money to have bought one during those years.
Let's be clear, Reid is not a local leader. Let's also be clear, the Arizona illegal immigration law points out that the FEDERAL GOVERNMENT yields extreme power over states in today's world. Reid may not be responsible for the state income tax (0%), local roads (much nicer than a lot of places), local budgets and local laws, but he is the leader of 1/2 of Congress which writes all federal laws.
Reid has power over a large portion of education, welfare, federal highways, soliciting businesses to come to Nevada, Medicare, social security, now health care, federal laws pertaining to building, Yucca Mountain, Nellis, large portions of McCarren. Not to mention the Federal Government owns a large portion of this states land, which could be used by the government for innovative ideas; and has never happened other than the Yucca project.
He hasn't failed in all accounts, only a complete idiot would have, but he has failed in most. The direction he sets in his home in a penthouse in Washington DC absolutely impacts us. To say he doesn't have culpability in our unemployment rate is ludicrous, either you are someone who gets employers to more to your state or you aren't, stop making excuses for him. He simply rode the Casino engine for decades and now it's struggling he's claiming his persuasion in Washington will bring jobs here. He's had 24 years to prove it...
C'daver,
c'mon, get a job. Okay, sit around and blame Reid and Obama. That's so Nevada.
BTW, the rest of the country is going back to work. Blaming whoever doesn't seem to get the job done, or even started, but what the hay, you got time right? and it's all somebody else's fault, right? cadaver?
A lot of them are just remaking themselves with updated skill sets and applying for jobs in the non-profit sector to incorporate a lateral transfer of experiential understanding to fields of interest. That doesnot seem to be happening in the Vegas area, according to several headhunter agnecies and placement staff, due to the lack of existing skills, experience or fields of interest in the laid-off Las Vegan, according to my sources.
Those Bush Tax Cuts for the Rich really helped! LOL
Nevada's UE rate will continue to rise even as national UE continues to fall. The reason: excellent schools, broad based economy and bright, well-educated populace! Pullenty of water and other resources to handle growth.
When Michigan, with its proactive energy policy and good schools, revamps factories for green jobs, maybe all the unemployed construction workers and casino workers in Nevada can move to Michigan.
Thats the whole point I see, " He's been there for 24 years ", and just now he's saying its time to attract new business to Nevada ? I don't see how anyone could do any worse as our Senator. Time for him to retire. Seriously, he is so lost/out of touch.
An unemployed carpenter.
WoW
some of you guys need an education, stupidity abounds some of the replies and comments.
there is 1 reason for the financial mess the world is in, overpriced assets and speculative public jumping on the highest point of the wave hoping to make a buck rather than working and earning it..
nothing to do with who was in power, nothing to do with voting, nothing to do with wanting a home, nothing to do with banks who merely reacted to the market.
PURE GREED FROM IDIOTS and REAL ESTATE AGENTS PUSHING PRICES EVER HIGHER FOR COMMISSION.
But we were promised Hope...and Change...
markp...
how do real estate agents push prices higher?
please explain this to me.
Dumbocrat solution = $7 gallon gas via Cap&Tax. That will help the economy, reduce the income disparity between rich and poor, and produce "green jobs".
Not.
Obama & Reid ---- The more Stimulus money we spend the worse the unemployment numbers get. Is there something wrong with this picture?
Its only "small" people who are hurting.
Brian, according to your idiotic remark lets blame George Washington; he's the one who didn't want to be King.
Harry Reid, No one can do more to destroy Nevada
Stevem says:
how do real estate agents push prices higher?
please explain this to me.
Reply:
Real Estate Agents among 123 accused in mortgage fraud probe.
Result: "Open Big Mouth...Insert Little Foot"!!!
Yeah Harry's solution to the problem was a $787 million dollar stimulus plan that was supposed to keep unemployment under 8% and 90% of the money was to create private sector jobs. Just seems they forgot to give the "governmental definition" of the private sector, which includes teachers, police and firefighters. Now I'm not against bailing those folks out, but the reality is that 90% of the money went out as welfare for local governments that couldn't make payroll. In other words, we were lied to by our elected leaders we placed in control of the purse strings.
Then he wants to put crap and tax on us which we know from the Spain example each green job destroys 2.2 jobs and costs almost $800,000 a year in government subsidies to maintain. Not to mention "skyrocketing utility rates" and $7 a gallon gas.
Well all those seniors who are screaming the howls of indignation about Sharron Angle taking their social security are eerily quiet on how they are going to survive in the Obama/Reid/Pelositopia without some serious raise in benefits to cover these costs. And investments? Don't count on your CD's or stocks to make up the difference. He's got that covered too with financial reform legislation. New taxes and governmental controls that effectively stifle job creation are in the works. In the new world order it won't make any difference. Many seniors won't have sufficient resources to survive the regime change. At least we have Kathleen Sebelius warming up the death panels to send them down the hospice chute as soon as possible.
This is your future folks and it doesn't look bright. Yeah, change you can believe in.
Cut unemployment rate by reducing the number of hours of public employees and hiring the unemployed.
Where is it written that public employees should be working full time?
One of the ways we got out of the Great Depression besides WWII was the reduction of the work week and paying OT.
These things will help Las Vegas recover.
Lower federal, state and local income taxes for US citizens allowing them to have extra money to come to Vegas several times a year. Lower airfare, lower hotel rates, cheaper meals, more comps and 3-2 blackjack.
Protester warns: 'You have awakened a sleeping giant'
The protesters have several concerns, but a unifying emotion is distrust of the government and federal intrusion into individual liberties or personal choices.
The emerging protest movement is almost the mirror image of the grass-roots campaign that helped sweep Obama into office by pulling in people who'd never been politically active. This time Obama is seeing the other side of what can happen when people are motivated, connect over the Internet and seemingly reach a tipping point that turns them from onlookers into activists.
"You have awakened a sleeping giant," one woman told Specter at a town hall meeting he held Tuesday in Lebanon, Pa.
For many opponents the health care overhaul amounts to the final straw. After seeing Obama bail out banks and car dealers, push a major energy bill and pass a $787 billion economic stimulus package that hasn't driven down unemployment, overhauling the $2.5 trillion U.S. health care system is a step too far.
http://www.chron.com/disp/story.mpl/heal...
Comment removed by moderator. Comment was in all caps.
state problem right? how come no one points a finger at the governor? oh because u elected him. no one points the blame at the mayor? whose job is it to bring in other industries to nevada?
the recession started when gas prices shot through the roof remember? all nevadans do is whine and point fingers but never at their decision to live above their means and their votes that put Gibbons in office
well for all those that are on unemployment that extension did not happen yesterday. in fact harry reid voted it down as did others. my heart and prayers go out to those that are struggling to make ends meet.
people most of the bailout money (over 60%) has been PAID BACK!!! reading comprehension, the uneducated whine and complain and have no clue. please nevada why everyday most you show your complete lack of understanding of the issues, your lack of education, your complete ignorance of state, local, national issues or yeah that's why your 50th in education
Taxes like the modified business tax, extended unemployment insurance benefits, and the minimum wage are all killing jobs http://reason.tv/roughcut/show/steve-wyn...
Oregon, New Mexico and other states that have spent money on job development, have seen reductions in unemployment. Low taxes, will not draw businesses by themselves. You need trained employees, and a government that is there to help and that provides needed infrastructure.
Note how Michigan, which spent money across the board for employee and business development, has seen unemployment to start to trend down.
"green shoots" from old harry Reid and his buddy Obama.
I totally get why everyone is so upset in Vegas about the lack of jobs, the absolute mismanagement of the state and local government, and just the overall downturn of the city of Vegas. We lived there too, but guess what? When my husband lost his job, WE LEFT!!!!! Was it hard, yes it was. We are still struggling, but he has a job now, and we are in a cleaner, safer city to boot.
A friends relative in Vegas lost her job there months ago. She asked her why she didn't leave and go back to Ohio, and her answer was, " because I like it here." WHAT THE EFF IS THAT????? She was expecting everyone to give her free room and board, because she didn't want to leave. That is the current state of mind with people, they want what they can't have, and then whine about it, like its someone elses fault.
If you have no job, your losing your home, and you can't support your family, you need to GO WHERE THE JOBS ARE! There are other cities that are just as nice as Vegas, and you can work if you really want to.
Stop the belly aching already and leave!
Dubya's pappy called in by it's proper name: Voodoo Economics!
and the average clark county fireman's salary is 186k...
never vote for commissioner tom collins again...
never vote for commissioner chris giunchigliano (however you spell it) again...
The so-called Numbers Do Not Include millions of people that have used up the regular 26 weeks of benefits typically provided by states, and are receiving Extended Benefits for up to 73 additional weeks, paid for by the Federal Government.
Good for you cadever.
It's probably like standing inside at the window in comfort and safety while all hell breaks loose outside. It's nice to have a little distance from the sausage-machine.
@Stevem Trust me I pay more in taxes than you make in a year.
If you want an explanation as to how real estate agents inflate prices then you're spending too much time in these comment sections posting your inane remarks. Only a few days ago there was a story on an investigation on sham home buyers puffing up prices. In fact more than 485 people were arrested.
Served.
Obama & Reid ---- The more Stimulus money we spend the worse the unemployment numbers get. Is there something wrong with this picture?
Stimulus funds to keep on the job over paid municipal union workers! That is just prolonging the day when unions will have to give back, just like private industry has, to keep the economy afloat. Look at Wynn, told his people to take a 10% pay cut or take a walk. People wanted to keep working and they gave back 10%. But, of course, the unions will not do that! They are bankrupting the state. And the Dems do not care. After all, unions always support them at election time.
Real stimulus funds should go to the unemployed or the marginal workers, not over-priced union workers. But what does "Chicago style" politics have to do with helping the economy--nothing except paying off your friends to keep them re-electing you.
All those "how's X working out for ya" statements just betrays how dopey the author is following around Palin.
again...axiom and markp...
that was a MORTGAGE scam. that had nothing to do with the real market price of homes.
so again, please explain to me how realtors drove up the price of homes?
and if we drove them up, why in the world would be drive them back down again?
Most of the stimulus money just go directly to the pockets of corrupt policians while only a chunk of change go to benefit the taxpayers.
Comment removed by moderator. Comment was in all caps.
Send Reid back to that shantytown searchlight where he came from ...
I read AICPA.org newsletter (everyday), Irs.gov CBO.gov (Congressional Budget Office) and cnn (business section) yahoo (business section), bbcnews, npr, Journal of Accountancy, SEC.gov and FASB.org and Economic Report of the President just to name a few, since I have to be on top of any changes regarding taxes, financial accounting, laws affecting small businesses (locally, statewide, and nationally), etc.
This is fall-out from 8 years of the Bush-Cheney war on the middle class. It takes time to repair the damage, but at least we've got an administration that is fighting for the working man now. Republicans don't care about the little guy -- never have.
Putting in 32 years in the private sector doesn't fall out of the sky,
Cadaver,
And I'm sure you have earned your spot inside by the fire with snow and ice blowing around and your choice of hot beverage or the cool seat in the summer with a cold one in an icy glass. You pre-paid on this moment, bro. Enjoy.
Amazing how all these people are blaming Harry Reid for this economic downturn. From a state that elected Mr. No New Taxes, Lame Duck, Jim Gibbons. What responsibility do our state elected officials have? What has Mr. Gibbons done during his term to try to diversify and jump start this economy?...NOTHING.
Bury Harry
November 2010
RIP
It's actually very simple. Just vote him out. Send his butt back to Searchlight, or wherever he has his mansion (I don't think in Searchlight, though).
I'm neither Republican nor Democrat, but I am fiscally conservative and my small business employs 11 full time staffers and just hired another - no thanks to either party. I am convinced that the majority of the Nevada unemployed are laborers in construction or poorly performing employees from the service sector. Maybe it's time for them to move on to other, greener pastures. Nevada, after all, was never for those who can't make something from nothing.
Oh and "rwal222" - thanks for leaving. Las Vegas doesn't need you. Now kindly stop trolling our news websites to tell us how our city sucks. Buh-bye!
What a shame SteveM is earning all that money and he still hasn't got anything better to do than post on a LVS forum on a Friday night. Makes it pointless,doesn't it?
Media today allows everyone to volley their opinion. It is out of control!
That's right, I said it!
A news company should have a pro journalist state one side and another state the other side.
It shouldn't be about all of the readers wanting to chime in preach their political views.
LAS VEGAS SUN please make it where your website you have to click to view comments. It is getting ridiculous!
billykydd,
Is your frustration with SteveM based on your lack of income or your being a feeder in the unemployment numbers? Hatred of those who are successful is just a sign of weakness and your own shortcomings...
cgoleno, too late - I've already said the same thing. "Comments" are now = "journalism"
cgoleno,
I humbly disagree. In fact, it is totally in-control. They have us howling like wild dogs in the streets!
i just want someone to please explain how real estate agents drove up the prices of homes.
if i'm so dumb, and you're so smart, you should be able to explain that to me.
if we had the power to drive up prices...why in the world would we drive them down?
the FREE MARKET (something liberals hate) drove up prices. you ever heard of the palms? aliante station? m resort? city center?
ever noticed all the starbucks, grocery stores, wal-marts, etc. that were built in vegas from 2000 - 2006?
people MOVED TO VEGAS to build those things. those people needed a place to live.
increased demand = prices go up.
once all those things were built...
there were no jobs = people started to move away = less demand = priced started to drop.
if someone announced tomorrow they were going to build a new 10,000 room resort, and people started moving here again for those construction jobs, housing prices would start going up again.
stevem
I have stood next to real estate agents on the phone to the vendors, the agents stated "add another 10k to price it will panic them into buying" also the large amount of fraud, price fixing etc
stevem, I am not here to educate you, this you will need to achieve on your own, maybe go back to college or employ a private tutor.
Here is an on-line definition of: Carpetbagger
'An outsider, especially a politician, who presumptuously seeks a position or success in a new locality'
Searchlight to Las Vegas to Washington DC.
OR
Western New York to Kirtland Ohio
These are very good examples!
How many out of that 14% could actually get a job?. We're in the process of hiring and have a hard time finding someone who can complete an application on a computer, then get by an interview in which they need to show they have ambition and experience in industry. If they get that far they have to pass a drug test, a background check, and a physical. Out of 200 people about 5 can actually meet all those requirements.
Reading some of these comments is like watching the end of a Scooby Doo cartoon""and I would've gotten away with it if it hadn't been for those pesky kids", because for all their supposed rugged individualism, some Nevadans sure seem to blame everyone else for their own failures and shortcomings.
And Stevem"Liberals like barney frank and bill Clinton didn't "white guilt" banks into making loans to people that should have NEVER gotten them"the free market took care of those people on its own. Instead, they pressured FannieMae and FreddieMac to loosen their lending criteria to match the returns posted by commercial lenders and ensure people going through FHA and VA could get loans -- since commercial banks didn't like dealing with the stringent requirements and paperwork that came when dealing with "those" sorts of people"you know"vets and poor people.
Liberals don't hate free markets, they hate when conservatives treat capitalism like it's their own personal circus, hyping the show to the kiddies and stuffing their coffers, then bailing with the bucks after the closing act and leaving everyone not in their circle of cronies to clean up after the tents are struck.
Also, you're kind of right"once things like the palms, aliante station, and city center were built there were no jobs; however, the people didn't move away and the influx of people moving-in declined"that decreased demand and prices should have dropped"but they didn't. The free market wasn't so free, as banks were able to keep home "values" inflated by deriving their value(s) from the CDOs backing them"which helped banks buff-up their balance sheets and kept the lie going. Only once those CDOs and CDSs tanked did the true scope and scale of this train wreck become readily apparent to the masses"but by that time, the ringmasters had moved on to the figurative next town.
Things are only going to get worse. I just saw another scary article in the NY Times about the fraudulent debt-relief industry. No doubt it's booming in LV.
http://www.nytimes.com/2010/06/19/busine...
Look this is really very simple math....you have 10,000 on unemployment (documented) then 3,000 finish up with their unemployment the following month so they report unemployment is down. down to what.....3,000 are still out there,they're just not being counted.Lets get some REAL numbers before you start claiming victory.I don't believe ANY of the numbers Nevada throws out there. They'll say anything to paint a rosy picture for us.Why donn't they post the number of people dropped from the unemployment roles?
Isn't it bizarre that North and South Dakota sound kind of good right now (3.6% and 4.6% unemployment respectively)?
And could their school systems be better than Nevada's also? (insult to injury)
But you know, they'll never have our world class hotels and customer service though will they? Viva Las Vegas!
"I have stood next to real estate agents on the phone to the vendors, the agents stated "add another 10k to price it will panic them into buying" also the large amount of fraud, price fixing etc."
haha, really. you've ACTUALLY stood next to agents on the phone? well...give me a name of this agent. just one name. if you were tight enough with them to have "STOOD" next to them while they did something "wrong"...you'd easily be able to give us a name.
and who cares if they DID add $10K or $30K or $100K?
the people buying that house made the DECISION to buy that house. nobody had a gun to their head. if the house on friday was $100,000 and on sunday it was $110,000...and they ended up buying that house for $110,000...then THAT is what that home is "worth".
no hidden agenda, no scheme, just free market.
go into albertson's tomorrow. go to the ice cream aisle.
is haagen dazs "worth" 3x more per ounce than the stuff one door over?
in case you didn't know...haagen dazs is a fake name. it means nothing. they tried to come up with a fancy name that could support a premium price and that's what they came up with.
the answer is YES, it is "worth" that much because people PAY that much for it.
they purposely ADD a higher price to it to make it sell better. and it works.
so why is it evil if a real estate builder did it?
"Isn't it bizarre that North and South Dakota sound kind of good right now (3.6% and 4.6% unemployment respectively)?
And could their school systems be better than Nevada's also? (insult to injury)"
North and South Dakota are major exporters of oil.
Enough with the political comments. Fact is, there are millions looking for work and there is little work available. And if one happens to land an interview, tens of other applicants are seeking the same job. It is very scary times for the families of the unemployed. So knock off the political chatter and help your fellow Americans. Email our Congressman via his/her site to extend unemployment benefits. Lives depend on it! Thank you.
This is what happens when you base your entire economy on one thing. Tourism. We need to expand education so we can have a worker base that actually attracts tech companies that always survive recessions fairly well (relatively speaking).
Also cgoleno is totally right. Las Vegas sun needs to make a collapsible comments section.
did anyone expect or promise to create jobs in the hotel-gaming industry ? when the rest of the country gets back on it's feet, then Vegas will. People must have the extra $$$$ to spend freely
they will---2011
stevem are you kidding me? You actually blame the dems for the unemployment in Nevada? Wow... I suppose you think the almighty bush had nothing to do with the state of the economy? Good luck, you need it