A changing of the guard at the highest level of state government means a potential change in headwinds for the 2023 economic forecast. "You are going to have a Republican [in the] Governor's Mansion, a super majority in the Assembly but not in the Senate, even though the Senate and Assembly are both Democrat controlled," explained Cindy Creighton, president, Nevada … [Read more...] about Changes Ahead
Stephen Miller
Economic Forecast 2022Nevada’s Economy Recovering – But Coronavirus Still Haunts State
Last year’s theme for Nevada’s economy was one of recovery versus recession as the state entered 2021 with coronavirus restrictions still in place. As the year progressed those restrictions slowly eased allowing for gaming revenues to recover, even as thousands of employees remain sidelined. The recovery was also assisted by employment recovering to pre-coronavirus levels in … [Read more...] about Economic Forecast 2022
Economic Forecast 2021Recovery vs. Recession
February 2020: Nevada’s economy was at a peak. Unemployment stood at 3.6 percent. The state led the nation in new job creation. March 2020: Governor Sisolak ordered all nonessential businesses to close and Nevada entered the worst recession since 2008. In two months, 280,000 Nevadans lost jobs. The COVID-19 recession was a faster, larger drop than the Great Recession, … [Read more...] about Economic Forecast 2021
Uncertain TimesMultifamily in Nevada
April was set to be yet another busy month for sales of apartment complexes in Nevada, one of the hottest multifamily markets in the country. And then, all of sudden, it wasn’t. After state and local governments mandated business closures — with resulting job losses — to battle the COVID-19 pandemic, multifamily investors, developers and managers stepped back … [Read more...] about Uncertain Times
Economic ForecastBuilding on Nevada’s Strong Economy
As Governor Steve Sisolak looks at the state’s strong economic performance at the dawn of a new decade, he sees it well-positioned to make investments that will create jobs and wealth for years to come. Top economists expect Nevada’s strong performance will continue into the New Year and that optimism, Sisolak says, creates an opportunity to address long-term economic … [Read more...] about Economic Forecast
Cber Business Survey the Focus of Henderson Chamber Breakfast
Networking event to focus on the economic outlook for Southern Nevada HENDERSON – The Henderson Chamber of Commerce will host its monthly networking breakfast, “End of Year Economic Update,” presented by Dr. Stephen Miller, the director of the UNLV Center of Business and Economic Research (CBER), from 7 to 9 a.m. Tuesday, Sept. 11, at Sunset Station, 1301 W. Sunset Road in … [Read more...] about Cber Business Survey the Focus of Henderson Chamber Breakfast
The Ups and Downs: Nevada’s Economic Forecast
Experts are bullish on Nevada’s overall economy this year, anticipating continued recovery from the recession and growth, they said. Four key markers support their outlook: Wages: The average private weekly wage for Nevada workers peaked in October at $758.86, representing a 2.3 percent year-over-year increase, according to Applied Analysis, a Las Vegas-based economic fiscal … [Read more...] about The Ups and Downs: Nevada’s Economic Forecast
Business Indicators: May 2016
The third estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2015 was revised upward again from the second estimate of 1.0 percent to a 1.4 percent annualized growth rate. This revision mainly reflects an increase in consumer spending, which is partly offset by a downward revision of private inventory investment. The stronger dollar, cheap oil and a … [Read more...] about Business Indicators: May 2016
Economic Forecast 2016: Increasing Stability and Growth
According to analysts, Nevada’s economy will continue to show improvement in 2016, but with a few new wrinkles thrown in. Rising wages will mean more disposable income, which in turn boosts consumer spending. Job creation, described as the single best indicator of economic growth, is expected to add more than 52,000 workers to company payrolls this year, according to the Nevada … [Read more...] about Economic Forecast 2016: Increasing Stability and Growth