The U.S. economy is showing signs of moderate improvement. Revised estimates of U.S. real GDP for third quarter 2012 show an annualized growth rate of 2.7 percent, up from the previous estimate of 2.0 percent. Most of the improvement can be attributed to a higher rate of inventory accumulation than previously estimated. U.S. nonfarm employment continues to rise, gaining 146,000 … [Read more...] about January 2013: Business Indicators
Monthly Editorial Departments
December 2012: Around the State
Henderson Receives Award for Energy Efficiency The City of Henderson has been awarded the Energy Project of the Year in Region V for its city-wide, multi-phase energy savings performance contract (ESPC) with Ameresco. The award was conferred from the Association of Energy Engineers (AEE). The $23 million ESPC was implemented in 2006 and is a combination of energy conservation … [Read more...] about December 2012: Around the State
Let’s Quit Killing Jobs in the Silver State: Legislators Should Remove Obstacles to Job Creation
Nevada’s unemployment rate has lingered at unacceptably high, double-digit rates for nearly four years. That uncomfortable statistic — reflecting deep human costs inflicted on many Nevada families — has led the state’s political class to make much ado about promoting “economic development.” During the 2011 legislative session, for example, lawmakers created a new “state … [Read more...] about Let’s Quit Killing Jobs in the Silver State: Legislators Should Remove Obstacles to Job Creation
Office Summary: Third Quarter 2012
Las Vegas The office sector witnessed a quarter-over-quarter decline in vacancy rates for the first time in two years. During the third quarter of 2012, the vacancy rate fell to 25.2 percent, down 0.4 percentage points compared to the prior quarter (Q2 2012). However, the rate remains 0.3-percentage points higher than a year ago (Q3 2011). The sector reported approximately … [Read more...] about Office Summary: Third Quarter 2012
December 2012: Business Indicators
The U.S. economy is showing signs of moderate improvement. Estimates of U.S. real GDP for third quarter 2012 show an annualized growth rate of 2.0 percent. Although higher than the tepid 1.3 percent growth rate for second quarter, the third quarter rate is well below the average growth rate of 3.4 percent the U.S. economy experienced from 1947 to 2007. Growth in U.S. real GDP … [Read more...] about December 2012: Business Indicators
November 2012: Around the State
Home Sales Rise in Lake Tahoe According to a quarterly report released by Lake Tahoe-based real estate company, Chase International, there was a 37 percent jump in homes sold and a 16 percent rise in sales volume in the Lake Tahoe area. Homes sales under one million increased by 37 percent and home sales above one million increased by 33 percent while overall prices fell. The … [Read more...] about November 2012: Around the State
Taxpayers Don’t Prevail: Nevada’s prevailing wage law benefits narrow groups at public expense
Imagine you’re a plumber living in Mesquite. For most jobs, you’d probably earn as much as a plumber living in nearby St. George, Utah — $19.67 per hour, on average, according to data from the U.S. Department of Labor. If you can get work on a public works project financed by Clark County or the State of Nevada in your hometown, however, your employer would be required to … [Read more...] about Taxpayers Don’t Prevail: Nevada’s prevailing wage law benefits narrow groups at public expense
Industrial Summary: Third Quarter 2012
Las Vegas The Las Vegas industrial market continues to face a slower pace of market contraction, contributing to increased stability in the overall vacancies. The sector reported a vacancy rate of 18.6 percent during the third quarter of 2012. In the past 12 months, the sector has witnessed 674,500 square feet of negative absorption, an improvement over the negative 1.5 … [Read more...] about Industrial Summary: Third Quarter 2012
November 2012: Business Indicators
The U.S. economy continues to experience weak growth. Recently revised data for U.S. real GDP show an annualized growth rate of 1.3 percent for second quarter 2012, somewhat below the previous estimate of 1.7 percent. Consumer spending drove most of the gains, but it was lower than in first quarter. Business fixed investment and residential investment also made smaller … [Read more...] about November 2012: Business Indicators
October 2012: Around the State
Second Annual Broadband Summit to Connect Nevada Communities Co-hosted by Connect Nevada and the governor’s Nevada Broadband Task Force, the second annual Broadband Summit, Connecting Communities, is expected to address Nevada job creation and local economic development through the access, adoption and use of broadband services. The event is being held towards the end of this … [Read more...] about October 2012: Around the State
$1.3 billion for 288 jobs: The failure of government-subsidized renewable energy
Another reason why government shouldn’t pick winners and losers in the economy In August, U.S. Senate Majority Leader Harry Reid hosted his fifth annual National Clean Energy Summit in Las Vegas. Delivering the keynote address, former president Bill Clinton claimed that if every state had a renewable-energy standard it would “put a lot of people back to work.” Sen. Reid … [Read more...] about $1.3 billion for 288 jobs: The failure of government-subsidized renewable energy
Retail Summary: Second Quarter 2012
Las Vegas Vacancies within the retail sector have remained in a relatively tight range during the past three years, suggesting increased stability has emerged within the sector. During the second quarter of 2012, the vacancy rate increased a modest 0.1-percentage point over both the prior quarter (Q1 2012) and prior year (Q2 2011) to 10.5 percent. With no new inventory … [Read more...] about Retail Summary: Second Quarter 2012
October 2012: Business Indicators
The U.S. economy continues to experience slowing growth. Revised data for U.S. real GDP show an annualized growth rate of 1.7 percent for second quarter, somewhat lower than the 2.0 percent rate set in first quarter 2012. Consumer spending drove most of the gains, but it was lower than in first quarter. Business fixed investment and residential investment also made smaller … [Read more...] about October 2012: Business Indicators
Back to Schools You Wouldn’t Choose: Nevada parents have been left behind in the school-choice movement
As Nevada’s children return to school this fall, many parents will again be frustrated, recognizing that their children will be relegated to sub-standard education. Parents who can’t afford to live in the wealthy neighborhoods that host the best public schools, and who can’t afford private-school tuition, will discover that the educational opportunities available to their … [Read more...] about Back to Schools You Wouldn’t Choose: Nevada parents have been left behind in the school-choice movement
Office Summary: Second Quarter 2012
Las Vegas The office sector witnessed an increase in vacancies for the fifth consecutive quarter. The vacancy rate reached 25.6 percent by the mid-point of 2012, up 0.4 percentage points over last quarter. Compared to the same period last year, the vacancy rate reported a more dramatic 1.3 percentage point increase. Approximately 128,000 square feet of new office space … [Read more...] about Office Summary: Second Quarter 2012