In The News: Department of Economics
Casinos, hotels, and golf courses top the list.
On this week’s Friday news round up, the team laments over some of our small city’s big problems. Lead producer Sonja Cho Swanson wonders how the demographics of our city could change, after reading a 51³Ô¹ÏºÚÁÏ study that says Las Vegas’ population will grow by over 1 million people by 2060.
It is expected that with funds of 160 million dollars, 4,000 houses will be built.
It is expected that with funds of 160 million dollars, 4,000 houses will be built.
Nevada carries a reputation as a one-horse state, relying mainly on the leisure and hospitality sector. For example, in 2019, accommodation and food services made up 26 percent of Nevada’s workforce. For many years, policymakers and analysts have argued that Nevada needed to diversify its economy like its neighbors Arizona and Utah. This notion has proven salient multiple times, such as during the 2008 Great Recession and the COVID-19 pandemic, when Nevada, and especially the Las Vegas metro area, became ground zero for a national economic slump.
Nevada carries a reputation as a one-horse state, relying mainly on the leisure and hospitality sector. For example, in 2019, accommodation and food services made up 26 percent of Nevada’s workforce. For many years, policymakers and analysts have argued that Nevada needed to diversify its economy like its neighbors Arizona and Utah. This notion has proven salient multiple times, such as during the 2008 Great Recession and the COVID-19 pandemic, when Nevada, and especially the Las Vegas metro area, became ground zero for a national economic slump.
According to Nevada’s June job numbers, our state now has more than 1.4 million jobs, which is 3,000 higher than our previous peak in 2020.
If employer-sponsored health insurance isn’t an option, there are other places to find affordable health insurance, like Marketplace exchange plans, short-term health insurance policies or Medicaid. MoneyGeek analyzed publicly available data for various backgrounds and locations to help you figure out where to buy affordable health insurance.
Over two years into the pandemic and its recovery, we now face an entirely new set of facts in the macroeconomy as we face a cooling economy and possibly another recession. Previously, loose monetary and expansionary fiscal policies saved the day for many people. The support for government programs to aid unemployed workers and small businesses proved essential during the recovery process. But, now, policy makers must evaluate a completely changed situation. Labor markets are overheating and employers find it difficult to hire needed workers. Moreover, the inflation dragon, which had been chained up for decades, is on the loose and creating anxiety for consumers, workers, and financial markets.
Over two years into the pandemic and its recovery, we now face an entirely new set of facts in the macroeconomy as we face a cooling economy and possibly another recession. Previously, loose monetary and expansionary fiscal policies saved the day for many people. The support for government programs to aid unemployed workers and small businesses proved essential during the recovery process. But, now, policy makers must evaluate a completely changed situation. Labor markets are overheating and employers find it difficult to hire needed workers. Moreover, the inflation dragon, which had been chained up for decades, is on the loose and creating anxiety for consumers, workers, and financial markets.
With recent dire warnings of a recession from major banking institutions like Deutsche Bank and Bank of America, Las Vegas could feel the impact of a downturn on a larger scale than other metropolitan areas with more diversified economies.
The high inflation rate and the disproportionate increase in property prices could trigger a new mortgage bubble in the United States, according to some sectors. Adriana Arevalo has the report.