Nevada gained 7,500 jobs in October, the third largest monthly increase in the past year, according to a report from the Nevada employment office on Thursday.

Nevada is called the Silver State because of the silver mining industry which was a big part of the state’s early history. What’s lesser known is that Nevada can mine for minerals like lithium too, and it could one day become something the state is known for like hospitality and tourism.

Economists in Southern Nevada are mixed on whether the country will face a recession in the next 12 months, though most agreed the economy will slow down.

It’s likely that Las Vegas will experience a small dip in tourism for the next couple of years, according to a group of economic researchers at UNLV.

Recent economic data suggests Nevada’s labor market is restructuring as workers move between jobs. And like the rest of the state, the Las Vegas metro area is also seeing high rates of churn — or the pace of workers moving between jobs.

By 2040 alone, the population in Clark County is expected to grow by 698,000 residents, according to CBER’s research, pushing the local population past the 3 million mark.

According to a study by UNLV researchers, Southern Nevada’s population is expected to grow to an estimated 3.39 million by 2060.

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.