Las Vegas’ employment picture not improving
June 23, 2010
Unemployment in the Las Vegas metropolitan area in May hovered just above 14 percent.
Las Vegas’ reported unemployment rate was 14.1 percent, but some estimate it could be closer to 14.4, with a 14 percent rate for the state as a whole. Real unemployment might be closer to 20 percent, analysts say, as the rate does not count those who have given up looking for work, and many of the construction jobs on large projects, such as CityCenter and the Hard Rock Hotel expansion, have now ended.
Reno fared slightly better at 13.3 percent.
Nevada lags significantly behind the United States’ overall unemployment rate of 9.7 percent.
As the economy recovers, the Las Vegas Strip will outpace the recovery of the Las Vegas locals market, according to Union Gaming Group.
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