Since the early 2000s, a fall in employment in the state of Nevada has preceded a broader U.S. recession. It makes sense why—the economic fortunes of Las Vegas, which make up a big part of the state’s overall economy, are intimately tied to consumers’ comfort with spending. Host Alex Ossola speaks with Andrew Woods, director of the Center for Business and Economic Research at the University of Nevada, Las Vegas, about what the state data shows now, and what it says about the health of the U.S. economy. This is part one of our four-part series on alternative economic indicators.

The Center for Business and Economic Research at UNLV estimates that the military has about 17,200 personnel stationed in Clark County. Federal defense spending is estimated to contribute $7 billion to the Nevada economy in 2017 dollars, according to the researchers.

Businesses have lost confidence in the economy, according to a UNLV report that will be released publicly next week. The dramatic decline in confidence happened quickly, plunging since a recent survey last quarter, and has reached depths that haven’t been seen in more than a decade, according to Andrew Woods, director of UNLV’s Center for Business and Economic Research.

Mention Las Vegas to just about anyone, and images of the Strip with its bright lights, casinos, and unmatched energy likely come to mind. But beneath the shine, Las Vegas isn’t having its best moment. Although it might not be obvious to the average visitor, the city has been quietly battling a slowdown.

Mention Las Vegas to just about anyone, and images of the Strip with its bright lights, casinos, and unmatched energy likely come to mind. But beneath the shine, Las Vegas isn’t having its best moment. Although it might not be obvious to the average visitor, the city has been quietly battling a slowdown.

The first icy storm of the season left a dusting of snow here Wednesday morning. As the gray shroud lifted with the sunrise, the timeworn exteriors of this quintessential Nevada town almost sparkled in the light as it peeked through parting clouds.

Health care is now the third biggest employer in Southern Nevada, according to the latest UNLV’s Center for Business and Economic Research’s annual report, and will become the second biggest in as little as three years.

Like much of the rest of the country, inflation has fully arrived in Las Vegas. A July 2025 report from the local Las Vegas news station, KTNV, dove into just how hard locals are being hit by the cost of living increases that have been ramping up nationwide since January.

Bogdan Popa was feeling discouraged at a September job fair at Boulevard Mall. He was out of work, and he wanted to stand out among job-seekers by meeting recruiters in person. Instead, he kept being directed to online applications. The job search was making him depressed, he said.

Washington is bracing for a government shutdown as federal agencies prepare to halt non-essential operations at midnight. Stephen M. Miller, a professor of economics, explained the potential consequences for local residents, particularly veterans who rely on federal services.

As prices skyrocket and international travel declines, the city finds itself caught in a perfect storm.

With concerts at the Sphere, Raiders games at Allegiant Stadium and Formula One racers flooring it, Las Vegas has upped its offerings outside casinos in recent years. The surge of new entertainment provides more reasons to visit Vegas, or at least more places to spend money, and boosts a segment of the local workforce. But a big question remains. Does it diversify Las Vegas’ tourism-heavy economy?