In The News: Department of Economics

KSNV-TV: News 3

Designer shoes, luxury bags and fine jewelry grace the walls of Max Pawn off Sahara.

Las Vegas Review Journal

UNLV economics professor Ian McDonough knew that many seniors across the Las Vegas Valley did not have access to nutritious food even before the pandemic.

Las Vegas Review Journal

Nevadans are optimistic about Las Vegas’ post-coronavirus future, but they believe a full economic recovery is going to take some time, according to a poll of likely Nevada voters.

Associated Press

Nevada’s entire congressional delegation, governor and several advocacy groups have lined up behind a bid for Congress to set aside vast federal lands in Clark County for conservation and recreation while freeing some for development around Las Vegas.

KLAS-TV: 8 News Now

U.S. employers added a robust 379,000 jobs last month, the most since October and a sign that the economy is strengthening as confirmed viral cases drop, consumers spend more and states and cities ease business restrictions.

Northern Nevada Business Weekly

Two months after the death of founder Sheldon Adelson, Las Vegas Sands has sold its Las Vegas Strip properties, ending an era that began with a long-ago imploded casino that was once home to the Rat Pack.

KLAS-TV: 8 News Now

As more people get vaccinated and COVID-19 cases decrease, you can already see the change in Las Vegas. We are on the road to recovery, but how long could it take?

Brookings

As the United States prepares for a COVID-19 recovery, policymakers need to understand why some cities and communities were more vulnerable to the pandemic’s economic consequences than others. In this paper, we consider the association between a city’s core industry, its economic susceptibility to the pandemic, and the recession’s racially disparate impact across six select metropolitan areas. We find that areas with economies that rely on the movement of people—like Las Vegas with tourism—faced substantially higher unemployment at the end of 2020 than cities with core industries based on the movement of information. Further, we find the hardest-hit areas have larger Hispanic or Latino communities, reflecting the demographic composition of workers in heavily impacted industries and susceptible areas. We conclude by recommending targeted federal policy to address the regions and communities most impacted by the COVID-19 recession.

Vegas Inc

Lori Calderon has looked through so many job applications that she often finds herself evaluating potential hires for Resorts World on her personal time.

Las Vegas Review Journal

Las Vegas’ jobless rate remains the highest in the nation among large metro areas, a new report shows, yet another sign of the pandemic’s crushing financial effects.

Casino.Org

Nevada’s economy must expand beyond its gaming industry reliance and add other types of industries, two economists said. Their prescription comes in response to a recent call by Gov. Steve Sisolak (D) to diversify the industries in the state, given the coronavirus economic downturn.

Forbes

Las Vegas continues to operate at a fraction of normal capacity, as vaccine deployment brings hope to end the COVID-19 pandemic. This is the January Vegas economic update; here is my Vegas economic report from December 2020, discussing the likelihood of a K-shaped recovery.