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Las Vegas economy

Economic Forecast 2021Recovery vs. Recession

January 1, 2021 By Jennifer Rachel Baumer Leave a Comment

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

Temporarily Closed for BusinessNevada Versus COVID-19

May 1, 2020 By Tarah Richardson Leave a Comment

Seemingly overnight the coronavirus (COVID-19) pandemic has swept through the world and changed every aspect of daily activity. From home-life and recreation to work and business operations, individuals everywhere have had to quickly learn to adapt to an unprecedented event. Working from home has been a trial by fire as businesses throughout Nevada closed their doors after … [Read more...] about Temporarily Closed for Business

Nevada GOED Board Approves Eight Companies to Create 167 Jobs, Expands Workforce Development Program in Ely and Reno

September 24, 2018 By Greg Ferraro Leave a Comment

LAS VEGAS/RENO – The Nevada Governor’s Office of Economic Development board approved applications for eight businesses, which could mean 167 new jobs and nearly $200 million in capital investment for the Silver State. The board also approved $1.6 million in additional funding for the Workforce Innovation for the New Nevada (WINN) program, which will support diesel technology … [Read more...] about Nevada GOED Board Approves Eight Companies to Create 167 Jobs, Expands Workforce Development Program in Ely and Reno

Business Indicators: September 2018

September 1, 2018 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: September 2018 - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “advance” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2018 expanded by a strong 4.1 percent annualized rate, the fastest pace in almost four years. Consumer spending, which accounts for two-thirds of real GDP, also grew strongly, which probably reflected somewhat the tax cut. U.S. nonfarm employment added a lower-than-expected 157,000 jobs … [Read more...] about Business Indicators: September 2018

Business Indicators: August 2018

August 1, 2018 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: August 2018 - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “third” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 expanded at a 2.0 percent annualized rate, revised down from the second estimate of 2.2 percent. The downward revisions mainly reflected smaller-than-expected private inventory investment and personal consumption expenditure. U.S. nonfarm employment continued its surprising gain by … [Read more...] about Business Indicators: August 2018

Business Indicators: July 2018

July 1, 2018 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: July 2018 - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 showed growth at an annual rate of 2.2 percent, down by 0.1 percentage point from the previous estimate of 2.3 percent. The downward revisions reflected smaller private inventory investment, residential fixed investment, and net exports, which were partly offset by a larger … [Read more...] about Business Indicators: July 2018

Business Indicators: June 2018

June 1, 2018 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: June 2018 - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “advance” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2018 rose at an annual rate of 2.3 percent, a slower pace than the previous three consecutive quarters of about 3 percent. The first quarter real GDP growth, however, exceeded the first-quarter growth in recent years. The increase in real GDP largely reflected a moderate growth in … [Read more...] about Business Indicators: June 2018

Iconic Women of Distinction Awards 2018

May 1, 2018 By Nevada Business Mag Leave a Comment

The mission of the National Association of Women Business Owners (NAWBO) Southern Nevada is to educate, empower and promote women business owners to experience success in all economic, political and social arenas.

An Iconic History NAWBO Southern Nevada The mission of the National Association of Women Business Owners (NAWBO) Southern Nevada is to educate, empower and promote women business owners to experience success in all economic, political and social arenas. The organization provides informative and success driven monthly meetings which include time devoted to networking with other … [Read more...] about Iconic Women of Distinction Awards 2018

Tax Law Update: What the Changes Mean for Business

April 1, 2018 By Curt Anderson Leave a Comment

In December 2017, President Trump signed the most comprehensive tax reform bill since 1986. The Tax Cuts and Jobs Act of 2017 makes significant changes to the tax filings for individuals and businesses. For personal filings, the individual maximum tax rate has been reduced to 37 percent from 39.6 percent. At the same time, personal exemptions have been eliminated and the … [Read more...] about Tax Law Update: What the Changes Mean for Business

Business Indicators: March 2018

March 1, 2018 By UNLV Center for Business and Economic Research Leave a Comment

The “advance” estimate for U.S. real gross domestic product (GDP) for the fourth quarter of 2017 increased at an annual rate of 2.6 percent after two consecutive quarters of above 3 percent growth. Average hourly earnings growth accelerated to 2.9 percent year-over year, its largest gain since the Great Recession thanks to a tightening labor market. Retail sales posted strong … [Read more...] about Business Indicators: March 2018

Banking on Nevada: Nevada Financial Institutions by the Numbers

February 1, 2018 By Jennifer Rachel Baumer Leave a Comment

Nevada’s Financial Institutions Division (FID) maintains and supervises Nevada’s banking industry. According to FID, the industry is growing stronger. Some of the positive indicators include loan concentrations – those concentrations that indicate what loan growth is, what loan activity is actually taking place, and whether individual banks have too large a concentration in … [Read more...] about Banking on Nevada: Nevada Financial Institutions by the Numbers

Commerce Tax Repeal: The Process Begins

December 1, 2017 By Lyle Brennan Leave a Comment

Passed during the 2015 legislative session in Nevada, the Commerce Tax, or Senate Bill 483, has been a sore spot for business owners over the past two years. It’s a frustrating tax for several reasons, not the least of which is, the year before, Nevadans voted against a similar tax only to have the legislature push it through the very next year despite majority wishes. Now, … [Read more...] about Commerce Tax Repeal: The Process Begins

Credit Unions: The Growth of Financial Cooperatives

December 1, 2017 By John Seelmeyer Leave a Comment

The industry group reported that credit union deposits in Southern Nevada rose by 8 percent year-over-year while total loans were up 10 percent.

  Even in an era filled with bright economic statistics, the mid-year report from the Credit Union League of Nevada stood out. The industry group reported that credit union deposits in Southern Nevada rose by 8 percent year-over-year while total loans were up 10 percent. In booming Northern Nevada, mid-year deposits rose 12 percent over year-earlier numbers and loans … [Read more...] about Credit Unions: The Growth of Financial Cooperatives

Nevada’s Place Among the States 2017

September 1, 2017 By Kay Foley 1 Comment

In this 11th edition of comparing Nevada to other states, statistics show that Nevada has almost fully recovered from the recession.

Each year, “Nevada’s Place Among the States” compares Nevada to other states, competing markets and the U.S. in general, on several key measures of economic and social health. In this 11th edition of comparing Nevada to other states, statistics show that Nevada has almost fully recovered from the recession. At one point, the Silver State led the nation in foreclosed homes and … [Read more...] about Nevada’s Place Among the States 2017

September 2017: Business Indicators

September 1, 2017 By UNLV Center for Business and Economic Research Leave a Comment

September 2017: Business Indicators - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “advance” estimate for U.S. real gross domestic product (GDP) for the second quarter of 2017 grew at a 2.6 percent annualized rate. Real GDP for the first quarter was revised downward to a 1.2 percent pace. Residential investment exhibited the largest decrease among the real GDP components for the second quarter, while consumer spending and business investment rebounded … [Read more...] about September 2017: Business Indicators

July 2017: Business Indicators

July 1, 2017 By UNLV Center for Business and Economic Research Leave a Comment

July 2017: Business Indicators - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The “second” estimate for U.S. real gross domestic product (GDP) for the first quarter of 2017 grew at a 1.2 percent annualized rate, a half percentage point higher than the “first” estimate. The upward revision reflects larger gains in nonresidential fixed investment and personal consumption expenditure and smaller losses in state and local government spending. U.S. nonfarm … [Read more...] about July 2017: Business Indicators

January 2017: Business Indicators

January 1, 2017 By UNLV Center for Business and Economic Research Leave a Comment

January 2017: Business Indicators - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

U.S. real gross domestic product (GDP) for the third quarter of 2016 grew at a 3.2 percent annualized rate instead of the 2.9 percent from the advanced estimate. The upward revision reflected higher consumer spending and net exports than previously reported, which were partly offset by smaller-than-expected fixed investment and state and local government spending. The … [Read more...] about January 2017: Business Indicators

December 2016: Business Indicators

December 1, 2016 By Steven M. Miller, PhD Leave a Comment

December 2016: Business Indicators - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

U.S. real gross domestic product (GDP) for the third quarter of 2016 expanded at a 2.9 percent annualized growth rate based on the advanced estimate. This unusual and surprising jump after three quarters of sluggish growth reflects a surge in agricultural (soybean) exports and a rebound in business inventories, which bring doubt about continued strong growth in the fourth … [Read more...] about December 2016: Business Indicators

Business Indicators: November 2016

November 1, 2016 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: November 2016- Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The U.S. real gross domestic product (GDP) grew at a 1.4 percent annual rate in the second quarter of 2016, revised up by 0.3 percentage point from the second estimate. The upward revisions mainly reflected an increase in nonresidential fixed investment, which decreased in the previous estimate. Large gains in consumer spending contributed to a rise in real GDP, while cutback … [Read more...] about Business Indicators: November 2016

Business Indicators: October 2016

October 1, 2016 By UNLV Center for Business and Economic Research Leave a Comment

Business Indicators: August 2016 - Includes status of U.S. Nevada, Las Vegas, and Reno economies.

The U.S. real gross domestic product (GDP) grew at a 1.1 annual rate in the second quarter of 2016, The increase in real GDP was mainly due to surprisingly large gains in consumer spending, while cutbacks in private business investment contributed to U.S. economic growth remaining stuck in the slow lane. In spite of lackluster business investment, U.S. nonfarm employment added … [Read more...] about Business Indicators: October 2016

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