Up Means Down For Las Vegas Valley Economy

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Up arrowBetter-than-expected job growth cut the Las Vegas Valley’s jobless rate to a seven-year low in May according to an article in the Las Vegas Review Journal. (click link for full article).

The valley’s unemployment rate fell to 6.6 percent in the month, down from 7.2 percent in April and 7.8 percent in May 2014, the state Department of Employment, Training and Rehabilitation said Tuesday. It’s the first time since June 2008 that local joblessness dropped below 7 percent.It’s also the first time since 2008 that unemployment in Nevada’s three metro areas — Las Vegas, Reno and Carson City — came in below 7 percent.“Overall, the metropolitan areas are moving in the right direction, mirroring the health of the state as a whole,” said Bill Anderson, the employment department’s chief economist.

Special thanks to NAI Vegas for sharing this report.