Business Indicators

Hurricane season brought loss of life, devastation and economic disruption to the Gulf States. Though this region produces only about 2 percent of the national output, the region is rich in energy. As such, energy-supply disruptions loomed large and shortages appeared immediately. Prices jumped, but quickly receded as oil was released from the national reserve, supplies were … [Read more...] about January 2006: Business Indicators

The strong surge of energy prices in recent months follows a wave of increased demand for energy worldwide. This stepped-up demand is largely the result of marked increases in growth among Asian countries, mainly China and India. Energy-intensive industries and traders scrambled to secure sources, pushing prices up further. Then, two hurricanes shut off some Gulf oil production … [Read more...] about December 2005: Business Indicators

Hurricanes have destroyed homes and businesses in the Gulf Coast area, to say the least. Other regions are affected, particularly industries and regional economies dependent on oil. In Nevada we are less adversely affected, as we do not get our gasoline and other petroleum products from the Gulf Coast region. Still, we will likely see some effects, such as higher costs for … [Read more...] about November 2005: Business Indicators

Many pundits who missed the 2000 stock market bubble are now getting press coverage by predicting a housing bubble. The housing market bubble pundits might have a point, however. Many impacts invariably follow an economic event or shock, such as the cascading corporate scandals that followed the overvalued stock market of the 1990s. Moreover, economic shocks usually do not … [Read more...] about October 2005: Business Indicators

The data, across a wide range of measures, support what we hear: the economy is doing well, with more favorable than unfavorable financial reports. The U.S. price and employment picture shows stable prices, even in the face of sharp increases in oil prices, and a steadily – if belatedly – improving job market. Inflation remains at less than a 3 percent growth rate, up 2.5 … [Read more...] about September 2005: Business Indicators

Nevada’s economy continues to outperform the U.S. economy. U.S. job growth, picking up recently, is still growing at a modest rate, up 1.5 percent year-over-year for the month of April. The Silver State, on the other hand, continues to create jobs, up a robust 6.6 percent measured annually over the same April-to-April period. In short, the better than 5 percent difference … [Read more...] about August 2005: Business Indicators

Nevada continues to experience favorable economic conditions. Jobs are up by 6.4 percent over the last year in the Silver State. In addition, taxable sales and gaming revenue are up by more than 10 percent on an annualized basis. Not surprisingly, Nevada’s unemployment rate is at 4 percent, a full 1.2 percent less than the rate for the U.S. In comparison, U.S. job growth is up … [Read more...] about July 2005: Business Indicators

Not surprisingly, U.S. growth in spring 2005 turned more moderate. Coming after a period of sustained recovery, slower growth suggests the economy is undergoing mid-cycle adjustments. These adjustments come about as the pace of inflation picks up and growth slows, a typical mid-cycle pattern. The numbers, however, do not foretell a downturn – as some pessimists are prone to … [Read more...] about June 2005: Business Indicators

U.S. job growth is up 1.8 percent over a year ago, with the U.S. unemployment rate hovering in the mid-5 percent range. This is an improvement from last year’s conditions, particularly for job growth. Still, job conditions in Nevada remain better than nationally, and have done so for some time. Job growth in Nevada increased briskly during the last year, up 6.8, 7.6 and 5.2 … [Read more...] about May 2005: Business Indicators

After a belated delay, the U.S. job recovery from the 2001 recession became evident in late 2004. The recovery showed up much later than many expected based on past experience. Without a clear recovery in jobs, there remained an uneasiness about the sustainability of the ongoing expansion. At the end of the year, the annual growth rate in jobs showed a 1.7 percent increase from … [Read more...] about April 2005: Business Indicators

Nevada experienced a year of strong growth in 2004. From January to December, each month’s year-over-year percentage growth exceeded 10 percent. Moreover, the Silver State did not suffer the midyear soft spot the U. S. economy experienced. In short, Nevada’s performance was outstanding. By year’s end, Nevada’s employment was up 4.8 percent for the year. Clark County and … [Read more...] about March 2005: Business Indicators

Nevada continues to post robust rates of growth. Taxable sales, gaming revenue and air passenger volume grew at double-digit rates over year-ago levels. Moreover, these rates have held throughout 2004. It is hard to believe the expansion could be better. Therefore, it will be nearly impossible to sustain such rates of growth much longer, unfortunately. Still, though slower … [Read more...] about February 2005: Business Indicators

Nevada remains atop the list of states with favorable economic performance. Gauging performance by the utilization of labor resources, one would be hard pressed to envision a better situation. Nevada’s unemployment rate for October dipped to 3.4 percent, well within the desired range. Despite the good news for the Silver State, the U.S. unemployment rate holds at 5.5 percent, … [Read more...] about January 2005: Business Indicators

U.S. economic expansion slowed at mid-year, largely as a result of rising fuel prices, which rose 30 percent this year as a result of reduced supply, increased demand and the prospect of future shortages and markedly higher prices. Still, current oil prices in excess of $50 a barrel are lower today than in 1980, when a barrel of oil cost more than $80 in today’s money. Based on … [Read more...] about December 2004: Business Indicators

Nevada indicators generally reveal expansion. Only gaming revenue and visitor volume are below year-ago levels for July. Otherwise, the other indicators show positive performance. Most notably, the total number of jobs is up, growing at a 4.4 percent rate in the Silver State compared with 1.3 percent for the U.S. Moreover, Nevada has seen solid growth rates over the past year … [Read more...] about November 2004: Business Indicators