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January 31, 2015

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the economy:

Jobless rate hits record 15 percent in Las Vegas

CARSON CITY – The unemployment rate in the Las Vegas area in September climbed to 15 percent, setting a record.

There were an estimated 145,400 jobless in Southern Nevada -- about 3,000 more than in August, when the rate was 14.7 percent.

The state Department of Employment, Training and Rehabilitation said Nevada’s jobless rate held steady in September at 14.4 percent, marking the first time since January that the rate didn't increase. It was only the second time the state rate hadn't risen since the recession started, but it still exceeded the national jobless rate of 9.6 percent and California at 12.4 percent.

Bill Anderson, chief economist for the department, said “In recent months, growth in unemployment has begun to subside, suggesting some stabilization.”

But the employment picture in Las Vegas hasn't improved. The number of workers in construction dropped to 46,300, a decline of 900 from August. Manufacturing held steady with 19,700 employed.

Employment at hotel-casinos and gaming dropped 100 workers in Las Vegas to 153,400 in September compared to August.

Government employment in the Las Vegas area grew from 90,000 in August to 95,400 in September. Much of that was attributed to the return of teachers to the classroom.

Professional and business services employment in Las Vegas inched up to 99,700, a gain of 700 workers from August.

The department reported the Reno-Sparks area registered a 13.6 percent jobless rate, up from 13.3 percent in August. Carson City’s unemployment increased from 13.1 percent in August to 13.4 percent in September. And the Elko rate grew from 7.7 percent in August to 7.9 percent in September.

Anderson said, “The slowing rate of increase suggests the labor market may finally be bottoming out, though September’s nonfarm employment levels seem to suggest otherwise.”

He said, “A number of economic indicators important to Nevada’s fortunes have been showing signs of life” in recent months. “Visitation to Las Vegas has increased nearly every month in the last year,” Anderson said.

He added that in recent months, both taxable sales and gaming win recorded large over-the year gains.

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  1. It is a much higher than 15%. The formula used to determine this percentage figure is flawed. (Google) it. (Unemployment Rates)

  2. Chunky says:

    Not exactly great news to wake up to this morning but if there's a brighter side hopefully we're at or near the worst of it and will eventually see some improvement.

    However, anyone who thinks there's a quick fix to this and/or that the politicians have any control over it should think again. The best they can do is continue to blame each other and try to peddle some sort of pie-in-the-sky feel-good fix

    This is a deep and long economic cycle and the only thing to cure it will be time and lots of it.

    That's what Chunky thinks!

  3. We haven't seen a real decline in the unemployment rate since about December 2005.

  4. this is the type of information that needs to be published over and over. Excellent job to the LV sun. It's imperative that word gets out especially now to voter. I'm not saying it's entirely harry reids fault, but this is occuring on his shift, he needs to take some responsibilty in this matter big time. This is what turns me off so much with Angle & reid, all this mudsling and for what? I've mentioned this before, harry had his oppertunity, time for him to exit, i rather try my chances with a new person than continue with this loser, don't care if he's majority leader or not. he's severly flawed..

  5. Anyone with a brain knows how bad things are. They also realize that despite all the rhetoric from the right this mess is going to take a long time to clean up. Any other thoughts would be denying reality.
    We actually have made slow but steady progress and it would be destructive to now change direction in an attempt to instantly turn things around . ITS JUST NOT GOING TO HAPPEN>
    -Sharron Angle has never repeat never accomplished anything positive for Nevada and in fact would be destructive to our economy.

  6. This is really bad news. But the even worse news is, because of the revelation of this unemployment rate, it is like a dog whistle that just gets all the neo-conservative ultra-right wingnut jobs all spun up to turn it into some political landscape that slams every Democrat on the planet.

    Really dumb.

    That view overlooks the fact that Nevada is a one horse town. We got gambling. We got tourism. And the casino owners want that to continue. As evidenced by building more and more casinos. And then when they get built, they get mad they have to charge less for hotel rates; overlooking the fact there are way more hotel rooms than tourists. Face it. We got no diversification at all.

    And diversification don't mean building more payday loan joints, McDonald's, Burger King and WalMarts. We need other businesses here.

    And it definitely don't mean accepting something that southern Nevada will regret later (Yucca Mountain Project). To accept Yucca here is much the same as selling your soul to the devil.

    People need to face the simple fact that when the rest of the U.S. is hurting, WE'RE hurting even worse. Those days of extra money and going on vacation to blow money in Las Vegas are over with. People can't afford to come here no more. The Las Vegas Convention Visitors Authority can make up new slogans from now to eternity, but it just overlooks the facts that the U.S. ain't like it used to be.

    When Las Vegas wakes up and realizes we gotta get innovative and think outside of the mold, and not point fingers all over the place, and do more action...then maybe we can get things done.

    And, in the political climate, I see Democrats understand this. Republicans don't. They just want power. And they want to go back to the same crappy ideas. But we can't afford to.

    And I will tell you truthfully, I see nothing on the Republican side offering solutions other than to continually point fingers at Democrats and blame them for things they set in motion that got us into this economic mess. And in their search for power, they throw monkey wrenches in gears for any hopes of recovery.

    Fifteen percent is not the end of it. It's gonna get worse. Hunker down, Nevada.

    You ask me, the only hope we got is to continue with President Obama's policies. Because Republicans offer nothing.

  7. BOO YAH!

    Chuckles just proved my point.

    It amazes me this continual policy by the righties to take the entire eight years of President Bush and shove it in President Obama's lap.

    And the only thing he is guilty of is trying to fix the U.S.

    It's much like trying to fix leaky pipes with duct tape, but I am very happy to see the Democrats concentrate on doing their best to repair a totally busted economy. And do it right. Not just put bandages all over the damn place. President Obama and his administration all hold their heads up proud, accepting the problems they face and continue on, even with all the opposition. I admire resolve, the acceptance of responsibility and not running from it.

    People need to face the fact that we need to work with the government. And not slam it. Especially here in Nevada. Because if the rest of the country gets fixed, Nevada will get fixed. Plain and simple.

  8. Nevada is the poster child for an "if you build it they will come" economy ....until they quit coming. A state economy dependent on tourisn, ganbling and construction does not survive without the "kindness of strangers." When the music stopped we were left standing. Nevada will be at the end of the line for economic recovery because we are almost completely dependent on economic conditions in other states and countries ... something we cannot control. In the meantime we got NOTHING, NOTHING that people absolutely, positively have to have.

  9. Very true, BobbyG.

    And to take your analogy even further, if Sharron Angle gets elected, it will speed up Las Vegas turning into the next Anasazi ruin. Or even the Las Vegas Boulevard as depicted in that science fiction/horror movie "Resident Evil 3-Extinction."

    But, like I said before, you bring up Republican Party idiocy, that dog whistle just sounds and gets the ultra righties ears perked and all spun up to turn it into spouting an anti-Reid/Pelosi/Obama hyper-ballistic meltdown rants emitting from their pieholes.

    It gets so ridiculous that if there is any hint President Obama tells people he likes oxygen and encourages everyone to use it, the ultra-righties will scream in rage and, in a sign of solidarity, they will all form en masse and refuse to breathe anymore!

  10. People moved to Las Vegas chasing a dollar ... Guess it's time for some to move on.

  11. And guys, isn't "the next Anasazi ruin" schtick getting a little old? I haven't been logging in for a long time, for this reason. People have predicting the end of Vegas for a hundred years, guys. All your hand-wringing predictions are tiresome and terribly pedestrian.

  12. I hate to cast a ray of sunshine in this gathering of gloom, but I had to use Terminal B at McCarran yesterday. I was surprised at the hustle and bustle there. What was more surprising was the balance between inbound and outbound traffic. It was Thursday and I think the net balance was in -- at least in the hour I was there.

    As far as the "Barstow II" scenario goes. Please remember that Barstow sits at the junction of two railroads, two main interstate highways and a state highway that links the interstates to Central and Northern California, and near the developing Southern California Logistics Airport. Las Vegas without gaming would have none of the basic economic advantages of Barstow I.

    We felt we didn't need these things. We were Fabulous Las Vegas. Build it and they will come. Etc., Etc. Well, they seem to be coming again. We can forget the hard times, go back to do nothing to diversify, and keep all our eggs in one basket, or we can build ourselves connections to the rail and highway grids, push McCarran and build Ivanapah with a view towards lower cost, convenient, and low-tax air logistics centers, so that we are superior to Barstow.

  13. What amazes me is that it seems like all the ills of Nevada are placed firmly on the shoulders of Senator Reid. And the only thing he is guilty of is trying to do his best to represent Nevada and fix things.

    But where is that useless Senator Ensign?

    Oh. Wait. I forgot. He spends more money and time fighting Senate Ethics Committee investigations, mixed with an FBI investigation for felony corruption charges. In the past quarter, he spent a total of $550,000.00 on attorney fees. So, I guess it's understood. His focus is on himself. Not on the people of Nevada.

    And where is the State Government?

    Oh. Wait. I forgot. That useless Governor Gibbons is more worried about accosting female casino employees in casino parking garages. And hiding girlfriends away from the prying eyes and cameras of the press in bathrooms at the Reno Airport. He can't be bothered with this stuff. Anyways, he's a lame duck. The very first Nevada Governor, as an incumbent, that was voted out and rejected to serve another term. Basically, other Republicans SLAPPED him out of office. Because he was totally and utterly useless.

    And we all know Senator Reid's opponent's excuse. It's not her job to worry about anything to do with Nevada issues, the voters, and other stuff. She's already on record she don't care. Jobs are not her concern. And judging from her State Government record, is she is unable to talk an issue to death and filibuster, then she is noted for her technique of kicking the can down the road for someone else to pick up and do something with. She don't solve problems. She either creates them or makes an existing problem worse.

    So, I guess we need to vote in Senator Reid.

    Because it's apparent that he's the only hope we got. He's pretty much the only one that gives a damn.

    My vote goes for Senator Reid.

  14. Perfect. 15% unemployment hits the news stands as Air Force One touches down. What a match!

    Now, if that's not two peas in a pod I don't know what is.

  15. Things take time to improve. It is not going to happen overnight. The people of Nevada have to elect officials that will actually help the State. And I hate to say this to the "Blue Kool Aid" folks who think Sharron Angle is their savior - she is NOT going to help but put the State back. What is HER plan for bringing jobs to Nevada? What is HER plan to help the economy that doesn't rely on tourism? What I have read - she has NO PLAN for anything? If she is elected, the State will only get worse. Reid is no savior either but you have someone who CAN do something if the powers that be get their sh&t together to help the State. Unfortunately, unless the economy gets diversified, the State will always be a second class entity with high unemployment.

    The country has changed. People are actually saving money instead of spending it foolishly. And yes, a weekend in Vegas is "spending foolishly". And it has nothing to do with what Obama has said (get over that already!). Those who were unemployed for a long time and finally have gotten jobs - no way are they going to squander money going to Vegas. They are not squandering money foolishly; retail sales have gone up because people were "saving money" to buy things. Finally, after two years, the retail stores in the area I live are hiring holiday help!

    It's going to take a loooooong time for the country to get back and people feel safe spending money. Unfortunately, Vegas will still be in trouble for years to come - unless things change. Air fares are going up which will hurt Vegas more. Who is going to spend $500-600 for a round trip ticket to Vegas???? For the cost of a tank of gas, people will stick close to home to gamble. Allegiant Air started flying out of the local airport here with introductory rates of $95 one way. The initial flights were booked solid but how long are those fares going to be around? They ARE introductory. Unless the Nevada officials wake up - Las Vegas and the State have a long road to travel to get back.

  16. Congratulations, AmericanFrog. Good Luck.

    Reid & Reid and Sons will be set up in the old mop room at the MGM which will, as of 03 November 2010, be called the Kool-Aid room. They will be helping Liberals fill out their Last Will and Testament