According to revised data, U.S. real GDP grew at an annualized rate of 2 percent during third quarter 2011, which represents a gain over the second-quarter figure of 1.3 percent. Consumption spending and business fixed investment were particularly strong. Preliminary indicators—such as retail sales, industrial production and trade—suggest U.S. real GDP will show even stronger … [Read more...] about January 2012: Business Indicators
Monthly Editorial Departments
December 2011: Around the State
New Northern Nevada Company Aims to Protect Patient Information NVMedTech, an information security company, recently launched in Northern Nevada with the focus on helping independent healthcare practitioners keep patients’ health information protected. In order to help providers be compliant with new regulations, the company does a risk analysis and audit then provides a … [Read more...] about December 2011: Around the State
Hiding Behind Opaque Numbers: Nevada PERS Accounting Practices are Concealing Taxpayers’ Real Liabilities
Nothing pleases a politician more than the ability to promise lavish benefits to important constituencies without having to pay for them. Nevada lawmakers long ago found a vote-buying cash cow of this nature in the state’s Public Employees’ Retirement System (PERS). PERS manages a defined-benefits pension system that operates much differently from the retirement funds owned … [Read more...] about Hiding Behind Opaque Numbers: Nevada PERS Accounting Practices are Concealing Taxpayers’ Real Liabilities
Office Summary: Third Quarter 2011
Las Vegas The office sector in the Las Vegas valley continues to show signs of weakness as approximately one fourth of total inventory remains vacant across the valley. The vacancy rate reached yet another all-time high at 25.2 percent (12.8 million square feet) by the close of the third quarter of 2011. On a year-over-year basis, the vacancy rate has increased 1.5 … [Read more...] about Office Summary: Third Quarter 2011
December 2011: Business Indicators
According to initial data, U.S. real GDP grew at an annualized rate of 2.5 percent during third quarter 2011, which is up considerably from the second quarter estimate of 1.3 percent. Third quarter growth was the strongest seen since third quarter 2010, but U.S. real GDP remains 6.7 percent below potential. U.S. nonfarm employment rose by 80,000 jobs in October. The … [Read more...] about December 2011: Business Indicators
Increasing Student Achievement: Sandoval and Bush Work to Bring Florida-Style Education Reforms to Nevada
It’s easy to be cynical about education and education-reform efforts in Nevada. For decades, we’ve known that Nevada’s education system needs dramatic improvement. And for decades, unions, led by the Nevada State Education Association, have told Nevadans that spending more money would improve our schools. Thus, spend we have. Over the last 50 years, Nevada has nearly … [Read more...] about Increasing Student Achievement: Sandoval and Bush Work to Bring Florida-Style Education Reforms to Nevada
November 2011: Around the State
Nevada Receives Federal Grant to Support Small Business Exports The State of Nevada has received a $239,318 Small Business Administration (SBA) grant through the State Trade and Export Promotion (STEP) Pilot Grant Initiative. The grant is expected to stimulate and strengthen Nevada’s global trade and will be administered by Nevada’s Office of Economic Development with the … [Read more...] about November 2011: Around the State
Industrial Summary: Third Quarter 2011
Las Vegas The Las Vegas Valley industrial market continued to show signs of weakness although the sector reported a decline in the vacancy rate during the past three months. The vacancy rate retreated slightly to 18.0 percent as 145,800 square feet of positive net absorption was reported during the third quarter. The current quarter is a turn-around from the prior ten … [Read more...] about Industrial Summary: Third Quarter 2011
November 2011: Business Indicators
According to revised data, U.S. real GDP grew at an annualized rate of 1.3 percent during second quarter 2011, up somewhat from the first quarter estimate of 0.4 percent. Both figures are well below the 2.3 percent annualized growth rate posted in fourth quarter 2010. U.S. nonfarm employment rose by 103,000 jobs in September, which was only enough to keep the U.S. … [Read more...] about November 2011: Business Indicators
October 2011: Around the State
Storey County Establishes Independent Economic Development Authority Storey County, home to the 107,000 acre Tahoe Reno Industrial Center (TRIC) has established an economic development authority in order to work more closely with the Nevada Commission on Economic Development. Storey County is the second smallest county in Nevada and TRIC takes up approximately 65 percent of … [Read more...] about October 2011: Around the State
How much is too much?: Government wages are extravagant and arbitrary
It’s one of the most challenging questions facing labor economists today: At what level should most public employees be paid? In public sector employment, the typical price signals that help determine wage rates in competitive labor markets are absent. After all, most government agencies do not compete in an open labor market wherein they must also provide quality goods to … [Read more...] about How much is too much?: Government wages are extravagant and arbitrary
Retail Summary: Second Quarter 2011
Las Vegas Retail vacancies moved downward to a level not seen in more than two years. The market recorded 369,700 square feet of positive net absorption during the second quarter of 2011, pushing the vacancy rate down to 10.1 percent, a decline of almost 0.4 percentage points compared to the previous quarter (Q1 2011) and down nearly 0.7 percentage points in the same period … [Read more...] about Retail Summary: Second Quarter 2011
Business Indicators: October 2011
U.S. real GDP grew at an annualized rate of 1.0 percent during second quarter 2011, up somewhat from the revised first quarter estimate of 0.4 percent. Both figures are well below the revised estimate of 2.3 percent annualized growth for real GDP in fourth quarter 2010. According to the Bureau of Labor Statistics (BLS) establishment survey, U.S. nonfarm employment held steady … [Read more...] about Business Indicators: October 2011
September 2011: Around the State
Clark County Voter Registration Rises in Mid-2011 According to a report from Applied Analysis, new voter registrations in Clark County rose during the second quarter of 2011, an occurrence likely due to the lead up of municipal elections in June. Additionally, there has been a downward trend in Democrat registrations, which has come largely at the expense of rising interest … [Read more...] about September 2011: Around the State
The Dreaded “R” Word —- Revenues
There is no doubt that Nevada has been one of the hardest hit economies not only in the United States, but even the world. Our double-digit unemployment rate is the highest in the nation month after month – exceeding even Greece’s unemployment. Our housing market is second only to Detroit’s, with more than 70 percent of Las Vegas area mortgages under water and no signs of … [Read more...] about The Dreaded “R” Word —- Revenues