Economic Briefing

Wynn and MGM Vow to Reopen Properties on June 4 in Nevada

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Nevada State Bank Economic Briefing

Governor Sisolak announced a 45-day extension of the eviction moratorium in late August amid the Covid-19 public health crisis. The order extends the moratorium on residential evictions based on nonpayment of rent to ensure greater housing stability. Policymakers hope this will allow Nevadans to remain in their homes as communities continue to struggle and recover from the health and economic impacts of COVID-19. The order seeks to maintain order during the pandemic as Nevada transitions to programs that protect landlords and tenants. However, the order does not change renters' obligation to pay rent.

According to the latest results from the Census Pulse Household Survey, about 11. 7% of people nationwide have not paid their mortgage or rent for July. In Nevada, about 15. 3% of people said they have not paid their mortgage or rent in the past month. While this could improve with a drop in unemployment, 9. 2% of Nevadans say they are not confident they will be able to pay their mortgage or rent on time next month, compared to the national average of 7. 2%. Even with Governor Sisolak's extended moratorium, 27% of Nevadan adults live in households where eviction or foreclosure is "somewhat" or "very likely" to happen in the next two months. This is better than the national rate of 33. 4%, but it is still a growing concern in the community.

Despite the economic uncertainty, Nevada's housing market has shown improvement in the meantime. In July, existing home closings in Southern Nevada increased 34. 8%, surpassing 4, 000 for the first time this year. This was reflected in MLS inventory, which was down 29. 2% over the same period. Single-family permits increased 47. 0% from the previous month, while multifamily permits increased 13. 3%.

Business activity continued to normalize in September, and the labor market expanded moderately. The seasonally adjusted national unemployment rate fell to 13. 2% in August from 14. 0% in July. This decline brought the overall unemployment rate below the highest level experienced during the last recession (peaking at 13. 7%). This improvement was the result of a recent gain of 6, 500 jobs, of which 4, 500 were in the trade, transportation, and utilities sector. August marked the fourth consecutive month of job gains. However, the unemployment rate remains nearly 5 percentage points higher than the current national average and 9. 4 percentage points higher than August 2019.

Nevada's historical reliance on tourism means that the recent market crisis is sure to have a lasting impact. Gaming revenues have been declining following the forced closures that ended June 3rd. Even taking into account these recent gains, gaming revenues remain 26. 2% below 2019 levels. Nationwide visitor numbers likewise topped 1. 7 million in July, up 24. 7% compared to June. Although a notable improvement, this is 58. 9% lower than July 2019. Southern Nevada hotel occupancy in July was only 42. 5%, less than half the 91. 1% measured in July 2019. The health crisis and the associated response have led to an economic crisis, especially in the travel and tourism sector. The timeline for the resort business' recovery will likely be measured in years, not months.

Five months into the COVID-19 pandemic, Nevada remains one of the states hardest hit by this public health crisis, and the road to recovery remains gradual. Although many economic indicators are beginning to show positive growth trends again, they remain well below previous year benchmarks. On August 3, Governor Sisolak announced Nevada's long-term recovery plan, which shifts from a phased reopening approach to a long-term strategy and increases enforcement targeting specific zip codes and individual businesses that do not comply with COVID-19 mitigation measures. The intention of the new plan is to keep more businesses open and avoid large-scale closures of entire industries. With positive case numbers remaining high despite recent downward trends, state and business leaders are prioritizing mitigation measures to keep citizens safe.

Nevada's labor market benefited from the economic reopening, with positive growth through August and employment trends continuing to improve slightly. The seasonally adjusted national unemployment rate fell to 14. 0% in July from 15. 2% in June. This is a sustained decline from the state's record high unemployment rate in April (more than double the current rate at 30. 1%). The latest increase was driven by an increase of 14. 800 jobs this month, of which 3. 900 came from the professional and business services sector. This is the third consecutive month that Nevada's economy has added jobs. However, the unemployment rate remains 4 percentage points higher than the current national average and 10. 1 percentage points higher than July 2019.

The slowdown in the employment increase this month was also reflected in the number of unemployment insurance applications by July 2020. The number of new unemployment insurance applications in July was 66. 698, an increase of 39 % from the number of applications in June. In March and April this year, the number of first applications exceeded 200. 000. The number of continuing applications has been more than 300. 000 on the month, which was a small increase in the previous year. In addition to unemployment insurance, Governor Sisolak has signed an extension of the Pandemic unemployment support (PUA) program that Nevada residents can apply for qualifications until December. The PUA program for the week ended on August 8 was 12. 606, down 31. 8 % last week. There were 495 cases. This is the lowest PUA's first request for one week since the program started.

Nevada's housing market has continued to be moderately improved this summer. The number of detached houses in June increased by 65, 3 % from the previous month, and the number of apartment housing permit decreased 14, 8 %. Both detached houses and apartments have decreased compared to the same period of the previous year. In the first quarter of 2020, housing prices rose 2, 5 % yea r-o n-year, up 4, 1 % yea r-o n-year, and decreased by 8, 0 % in states.

Nevada is particularly vulnerable in the current economic situation. Being a state that depends on the tourism industry has a significant meaning. General uncertainty about public health will be a deterrent to travel for the time being. Therefore, it will take a long time for the tourism industry to return to the previous level. Gambling income has begun to recover by nearly 10. 000 % from May 2020, as Nevada's casino has been allowed to resume. Despite this increase, gambling income is 45, 6 % below the same period of the previous year. Similarly, the number of visitors in June increased by more than 1 million, 66, 2 % below the June 2019 level. The operating rate of the hotel decreased 14. 5 % in the first quarter of 2020, indispensable to navigate a feasible and secure approach to welcome tourists to Nevada. Probably. Eventually, the economy continues to reflect changes in public health, and is likely to recover when health risks related to travel and large events begin to retreat. The slowdown of the employment increase this month was also reflected in the trends in the number of unemployment insurance applications by July 2020. The number of new unemployment insurance applications in July was 66. 698, an increase of 39 % from the number of applications in June. In March and April this year, the number of first applications exceeded 200. 000. The number of continuing applications has been more than 300. 000 on the month, which was a small increase in the previous year. In addition to unemployment insurance, Governor Sisolak has signed an extension of the Pandemic unemployment support (PUA) program that Nevada residents can apply for qualifications until December. The PUA program for the week ended on August 8 was 12. 606, down 31. 8 % last week. There were 495 cases. This is the lowest PUA's first request for one week since the program started.

Nevada is particularly vulnerable in the current economic situation. Being a state that depends on the tourism industry has a significant meaning. General uncertainty about public health will be a deterrent to travel for the time being. Therefore, it will take a long time for the tourism industry to return to the previous level. Gambling income has begun to recover by nearly 10. 000 % from May 2020, as Nevada's casino has been allowed to resume. Despite this increase, gambling income is 45, 6 % below the same period of the previous year. Similarly, the number of visitors in June increased by more than 1 million, 66, 2 % below the June 2019 level. The operating rate of the hotel decreased 14. 5 % in the first quarter of 2020, indispensable to navigate a feasible and secure approach to welcome tourists to Nevada. Probably. Eventually, the economy continues to reflect changes in public health, and is likely to recover when health risks related to travel and large events begin to retreat. The slowdown in the employment increase this month was also reflected in the number of unemployment insurance applications by July 2020. The number of new unemployment insurance applications in July was 66. 698, an increase of 39 % from the number of applications in June. In March and April this year, the number of first applications exceeded 200. 000. The number of continuing applications has been more than 300. 000 on the month, which was a small increase in the previous year. In addition to unemployment insurance, Governor Sisolak has signed an extension of the Pandemic unemployment support (PUA) program that Nevada residents can apply for qualifications until December. The PUA program for the week ended on August 8 was 12. 606, down 31. 8 % last week. There were 495 cases. This is the lowest PUA's first request for one week since the program started.

In late May, when the number of COVID-19 infected people and hospitalization had declined, Nevada announced a roadmap to recovery to the phase 2 of the Nevada United Resumption Plan. A few weeks later, large and small businesses in the state resumed business and welcomed customers again. The resumed economic impact appeared in the major economic indicators in June 2020, and the fired workers returned to the workplace and significantly raised their employment.

Corporate activities in June 2020 were reflected in employment trends in Nevada as a whole. The seasonal adjusted unemployment rate has improved significantly, decreasing from 25 and 3 % in May 2020 to 15 and 0 % in June. With this improvement, Nevada's unemployment rate has become the highest in the United States to the fourth largest in the United States. The improvement of Nevada's unemployment rate is equivalent to the increase in employment of 100. 000 people in June 2020. However, these new employments were only partially offset the employment of 280. 000 people lost by April, and total employment remained 148. 000 lower than February 2020.

Most of the increase in employment in June 2020 was led by leisure and customer service, and 74 employment increased. Many of the major casino resorts in the state have resumed for tourists. In addition, the increase in employment in the retailing (up 14. 400 people) and the specialty and business service industry (up 10. 400) was noticeable.

The number of unemployment insurance applications reflects the increase in employment by June 2020. The number of unemployment insurance applications in the state in mi d-March reflects only the number of new unemployment insurance applications. The number of unemployment insurance applications, which is an indicator of the continuous unemployment rate, was near 300. 000 in June 2020, and it was a remarkable improvement from the 369. 000 cases in May 2020, which peaked 287. 000 at the end of the month. 000. However, in the first two weeks in July 2020, both the number of new unemployment insurance and continuous unemployment insurance applied, the employment trends in Nevada increased public health concerns and related businesses. It suggests that it may be slow while being restricted. In late May, when the number of infected COVID-19 infected and hospitalization was declining, Nevada has announced a roadmap to recovery to the Nevada United Resumption Plan to Phase 2. A few weeks later, large and small businesses in the state resumed business and welcomed customers again. The resumed economic impact appeared in the major economic indicators in June 2020, and the fired workers returned to the workplace and significantly raised their employment.

The number of unemployment insurance applications reflects the increase in employment by June 2020. The number of unemployment insurance applications in the state in mi d-March reflects only the number of new unemployment insurance applications. The number of unemployment insurance applications, which is an indicator of the continuous unemployment rate, was near 300. 000 in June 2020, and it was a remarkable improvement from the 369. 000 cases in May 2020, which peaked 287. 000 at the end of the month. 000. However, in the first two weeks in July 2020, both the number of new unemployment insurance and continuous unemployment insurance applied, the employment trends in Nevada increased public health concerns and related businesses. It suggests that it may be slow while being restricted. In late May, when the number of COVID-19 infected people and hospitalization had declined, Nevada announced a roadmap to recovery to the phase 2 of the Nevada United Resumption Plan. A few weeks later, large and small businesses in the state resumed business and welcomed customers again. The resumed economic impact appeared in the major economic indicators in June 2020, and the fired workers returned to the workplace and significantly raised their employment.

Job growth and other positive signs for the economy have come along with rising cases and hospitalizations due to Covid-19 infections. As confirmed cases continue to rise, additional public health measures have been implemented that may affect the outlook for job growth in the coming months. After four weeks of rising cases, Governor Steve Sisolak ordered face coverings required in most public indoor establishments on June 24. Two weeks later, he ordered the closure of bars and restaurants in counties with rising Covid-19 cases, including Clark, Washoe and five other counties. The impact of these measures and continued COVID-19 case outbreaks may become evident in employment data over the summer as businesses and consumers adapt to the public health changes.

The additional $600 weekly benefits paid to unemployed Nevadans under the Federal Cares Act could make a big difference in the economy. Federal unemployment compensation program payments totaled $2. 8 billion through mid-July, averaging $273 million per week last month. These payments are set to expire after July 25, ending a vital source of income for tens of thousands of Nevadans. Congress considered some form of expansion of the program as part of a new federal aid package in Washington, D. C., but many possibilities for new legislation, such as additional housing incentive payments, remained on the table.

The reopening of K-12 schools in the state could also affect Nevada families and their ability to work, creating another impact on the state's economy in the coming months. This impact is one of many unknowns surrounding the coronavirus outbreak and economic recovery. Just two months ago, early progress on the virus's progression was cause for optimism, but its subsequent trajectory is a reminder that Nevada's path to economic stability hinges on addressing public health concerns.

The indoor resort casino door resumed in June with enthusiasm and optimism in June after 11 weeks closed due to the Cobid 19 crisis. The closure of facilities, which symbolizes Las Vegas, was the most visible signs of public health measures implemented to delay pandemic and viruses. It was proven that these measures were effective in delaying the infection rate, and Governor Steve Sisolak has relieved regulations and transitioned Nevada to the second stage of the economic resumption plan.

The second stage started on May 29 and was allowed to open sports gyms, movie theaters, and other businesses. The gaming facility was allowed to resume on June 4 under the new public health guidelines set by the Gaming Management Committee. In the transition to the state to phase 2, the governor reported the progress of the decline in COVID-19 testing positive ratio in the past month. World Health Organization's goal is 5 %.

Las Vegas Strip Resort resumes, in accordance with the guidelines of the gaming control board (gaming management committee), all employees, thermal scanners at the entrance, wearing masks for employees, and cleaning and disinfecting procedures at all facilities. We responded to the rapid increase in early customer demand, such as strengthening. In some facilities, personal protection equipment including masks was distributed to guests, but the mask was sporady, so the gaming management committee revised the rules and participated in the unpoded table game. Masked for a mask.

The first week of the resort has been reviewed by enthusiastic congestion, but expectations should be suppressed. Caesters Entertainment reported that the revenue of five resorts in Nevada, which opened, fell 56 % to 58 % from the same period of the previous year. Caesters' report reminiscent that recovery to the previous level of 19 Colombia may take a long period of time, but since the resumption of resorts has already been announced, it has already been announced, so as a whole. The operator looks optimistic. Indoor resort casino door was resumed in June with enthusiasm and optimism in June after 11 weeks closed due to the Cobid 19 crisis. The closure of facilities, which symbolizes Las Vegas, was the most visible signs of public health measures implemented to delay pandemic and viruses. It was proven that these measures were effective in delaying the infection rate, and Governor Steve Sisolak has relieved regulations and transitioned Nevada to the second stage of the economic resumption plan.

The first week of the resort has been reviewed by enthusiastic congestion, but expectations should be suppressed. Caesters Entertainment reported that the revenue of five resorts in Nevada, which opened, fell 56 % to 58 % from the same period of the previous year. Caesters' report reminiscent that recovery to the previous level of 19 Colombia may take a long period of time, but since the resumption of resorts has already been announced, it has already been announced, so as a whole. The operator looks optimistic. The indoor resort casino door resumed in June with enthusiasm and optimism in June after 11 weeks closed due to the Cobid 19 crisis. The closure of facilities, which symbolizes Las Vegas, was the most visible signs of public health measures implemented to delay pandemic and viruses. It was proven that these measures were effective in delaying the infection rate, and Governor Steve Sisolak has relieved regulations and transitioned Nevada to the second stage of the economic resumption plan.

The gentle recovery of Nevada, which began in early May 2020, has a positive effect on the state's employment situation. Initially, the number of unemployment insurance applications by new employees decreased throughout the month, and the number of applications for the last week was 11. 300, the lowest since mi d-March. The number of continuous unemployment insurance applications, which indicates that unemployment is continuing, peaked in mi d-May, peaking at 369., one month later.

In May 2020, employment in the United States and states was resumed, and the unemployment rate in the United States fell from 14. 7%to 13. 3%. The number of employment of 2. 5 million in the United States increased, and the leisure and customer service business accounted for about half the employment of 1. 2 million. In April 2020, the unemployment rate in Nevada recorded the highest 30. 1 % in the United States. In May 2020, the state gained 35. 800 employment and raised unemployment to 25. 2 %. However, the entire state employment remains the level of February 2020 below 243. 800.

The federal government's economic stimulation measures through various programs to support companies and individuals have helped to reduce the shor t-term income of the national households and reduce the financial crisis some of the economic hardships. 。 However, the budget of state and local governments faces a significant shortage of lon g-term turmoil tax revenue. Public institutions throughout Nevada have been working to eliminate the shortage of financial resources next year, announcing Reof, temporarily returning, payment reduction, postponement of capital investment, and other strategies. At the state level, Governor Sisolak will call for extraordinary parliament, which will be dealing with a significant shortage of financial resources, more than $ 800 million in the fiscal year ending on June 30, and more than $ 1. 3 billion in the next fiscal year.

The future of the Nevada economy and the budget of public and private organizations depends on how quickly economic activities can be recovered. The COVID-19 virus is still active, and for the time being it will affect the economy for the time being, but for the first month of recovering a wider business and returning to the resort and casino, return people to work. It was an important step to restore the state economic base. The gentle economic recovery in Nevada, which began in early May 2020, had a positive effect on the state's employment situation. Initially, the number of unemployment insurance applications by new employees decreased throughout the month, and the number of applications for the last week was 11. 300, the lowest since mi d-March. The number of continuous unemployment insurance applications, which indicates that unemployment is continuing, peaked in mi d-May, peaking at 369., one month later.

The future of the Nevada economy and the budget of public and private organizations depends on how quickly economic activities can be recovered. The COVID-19 virus is still active, and for the time being it will affect the economy for the time being, but for the first month of recovering a wider business and returning to the resort and casino, return people to work. It was an important step to restore the state economic base. The gentle recovery of Nevada, which began in early May 2020, has a positive effect on the state's employment situation. Initially, the number of unemployment insurance applications by new employees decreased throughout the month, and the number of applications for the last week was 11. 300, the lowest since mi d-March. The number of continuous unemployment insurance applications, which indicates that unemployment is continuing, peaked in mi d-May, peaking at 369., one month later.

Optimical to the battle of virus containment after the COVID-19 pandemic in Nevada, how to collect social distance, closed unnecessary business, and other public health measures for more than 2 months. Signs have come to be seen. The number of peopl e-infected colon viruses and the number of deaths every day is decreasing, and the number of pedestrians has increased in the state shopping center, and the parking lot is crowded, so the economy has gradually resumed. I understand. As Steve Sisolak has announced the provisional announcement, the economy may be further activated in June if the resumption of gaming resort in the state is permitted.

These are signs to be welcomed for the state economy, which was hit by the struggle with COVID-19. In the latest unemployment data in April 2020, Nevada's seasonal unemployment rate was 28. 2 %, which was the unprecedented number in the United States. Historically, 13. 7 % of the state's unemployment rate in the Great Sheeting and later retreat of the economy was 13. 7 % in September 2010. Nevada was not special, and 42 states recorded a tw o-digit unemployment rate, reaching 14. 7%in the United States, and has been the highest since the great recession.

The depth of the unemployment crisis in Nevada can be measured by raw employment. From March to April 2020, Nevada lost 245. 000 employment and decreased by 255. 000 in a year. The total number of employees has fallen to the level of 2013, but the number of employees in the leisure and customer service has fallen to the lowest level since 1993. The industries that were most affected by employment decrease were accommodation and food and beverage services (-40, 9 %), administrative support (-28, 2 %), and other services (-24, 8 %). Nevada's COVID-19 COVID-19 Pandemic, how to collect social distance, closed unnecessary business, and other public health measures continued for more than 2 months, then in a battle with viruses. Signed a optimistic sign. The number of peopl e-infected colon viruses and the number of deaths every day is decreasing, and the number of pedestrians has increased in the state shopping center, and the parking lot is crowded, so the economy has gradually resumed. I understand. As Steve Sisolak has announced the provisional announcement, the economy may be further activated in June if the resumption of gaming resort in the state is permitted.

The depth of the unemployment crisis in Nevada can be measured by raw employment. From March to April 2020, Nevada lost 245. 000 employment and decreased by 255. 000 in a year. The total number of employees has fallen to the level of 2013, but the number of employees in the leisure and customer service has fallen to the lowest level since 1993. The industries that were most affected by employment decrease were accommodation and food and beverage services (-40, 9 %), administrative support (-28, 2 %), and other services (-24, 8 %). Optimical to the battle of virus containment after the COVID-19 pandemic in Nevada, how to collect social distance, closed unnecessary business, and other public health measures for more than 2 months. Signs have come to be seen. The number of peopl e-infected colon viruses and the number of deaths every day is decreasing, and the number of pedestrians has increased in the state shopping center, and the parking lot is crowded, so the economy has gradually resumed. I understand. As Steve Sisolak has announced the provisional announcement, the economy may be further activated in June if the resumption of gaming resort in the state is permitted.

While the April unemployment rate is surprising, it reflects survey data collected in mid-April and is therefore retroactive. The weekly unemployment claims figures provide a more up-to-date picture of the state situation. The positive news is that the number of new unemployment claims continues to decline week over week, dropping from 92, 300 in the week ending March 21 to 17, 800 in the latest data for the week ending May 16. This is because most unemployed people who initially applied have started receiving regular weekly wage payments. The actual number of unemployed people is higher than this figure, as some unemployed people are not eligible for unemployment benefits and many self-employed people have only recently been able to apply for benefits under the new federal system.

The official unemployment rate data lags the unemployment rate data by about one month, but the unemployment claims figures provide a more up-to-date picture of the state situation. As of mid-March, the number of new unemployment claims was 459. While this figure may not reflect the reopening of some businesses or other labor market movements, it suggests that job losses may be nearing their peak and could improve as more parts of the economy reopen in the coming weeks.

For unemployed Nevadas, unemployment insurance has been an economic lifeline. By mid-May, the state's regular unemployment program had paid $616. 3 million in weekly benefits to unemployed Nevadans. The Federal Unemployment Compensation program, one of several programs established under the federal Cares Act, provides unemployment recipients with an additional $600 a week on top of the state's average benefit of about $380. Federal programs have paid $786. 3 million to unemployed Nevadans so far. Additional federal funds are beginning to reach the state through the implementation of the Pandemic Unemployment Assistance program for self-employed workers who are not eligible for regular state unemployment benefits, which are usually paid by employers.

The final economic impact of Covid-19 is yet to be determined. However, the benefits provided by the federal government will help bridge the economic gap for many. There are many factors that will determine the effectiveness of these programs, including how quickly and safely local economies reopen. The progress made so far in the state to contain the spread of the Covid-19 virus has led to signs of businesses cautiously reopening and taking another step toward rebuilding the economy.

As the Covid-19 pandemic spreads around the world, it has created significant social and economic uncertainty worldwide. This new coronavirus has infected 2. 5 million people, including nearly 4, 000 in Nevada, without a vaccine or herd immunity. In response to the growing number of cases and lives lost, federal, state and local governments have enacted emergency measures to limit in-person contact and the spread of the virus. While these measures have been effective in protecting public health, they have been economically devastating.

Nevada's homestay efforts have been top-notch. According to an analysis of Google location tracking data, Nevada residents have been particularly successful in restricting travel across the region, reducing trips to work by 53%, trips to retail and recreation by 45%, and trips to parks by 43%. A similar analysis by UNAMAST placed Nevada first in the nation in reducing non-essential visits. The measures appear to be working. New modeling by scientists at the University of Texas at Nevada predicts that COVID-19 deaths will peak in April. While the extraordinary efforts to contain the immediate public health crisis may have been effective, they have also unleashed an unprecedented economic crisis that has already put hundreds of thousands of Nevadans out of work. Millions of jobs have been lost across the United States, but Nevada ranks among the hardest hit states due to its reliance on industries based on human concentrations at a time when social exclusion is essential. The state's leisure and hospitality industry directly employs more than 350, 000 Nevadans (nearly a quarter of the workforce) and half of the state's 20 largest employers are in Kandy Resort, which has been closed to non-essential businesses under Governor Sisolak, making the state's economic center particularly vulnerable to social exclusion measures.

The seriousness of the economic crisis is being revealed in official data, which is usually announced more than one month later. The state's unemployment rate in March 2020 was 6. 4 %, up 2. 6 points from the previous month, recording the highest in the past four years. Depending on the timing of data collection, this figure has caused the rayoffs of operators such as Caesters Entertainment, Void Gaming, and MGM Resorts International, and after the closing of all gaming facilities of unnecessary and urgent businesses by the state. Most of the loss of employment has been overlooked.

Nevada's 92. The number of unemployment insurance applicants in Nevada exceeded 302. 000 for four consecutive weeks. By the way, during the Great Causes of Fights, 32. 800 cases in January 2009 were the highest in the number of unemployment insurance applications for four weeks. The scope of unemployment will be revealed in a new data announcement, but the remarkable trend of the number of unemployment insurance applications implies that the state unemployment rate has already exceeded 20 %.

In order to offset the national economy, the federal government has passed the Cornot Support, Relief, and Economic Saving Law (CARES) in late March. The law provided $ 2. 2 billion subsidies, loans, and other assistance to support individuals, companies, states, and local governments to survive the collapsed economic confusion. Programs include $ 1200 per adult, $ 500 per child under the age of 17, paying salary protection programs to support small and mediu m-sized enterprises, Nevada and local governments. Includes $ 125 billion from the Crown Relief Fund to cover the relevant costs and several emergency unemployment insurance programs, including additional $ 600 weeks until July 25. The seriousness of the economic crisis is becoming clear in official data that is usually announced more than one month later. The state's unemployment rate in March 2020 was 6. 4 %, up 2. 6 points from the previous month, recording the highest in the past four years. Depending on the timing of data collection, this figure has caused the rayoffs of operators such as Caesters Entertainment, Void Gaming, and MGM Resorts International, and after the closing of all gaming facilities of unnecessary and urgent businesses by the state. Most of the loss of employment has been overlooked.

In order to offset the national economy, the federal government has passed the Cornot Support, Relief, and Economic Saving Law (CARES) in late March. The law provided $ 2. 2 billion subsidies, loans, and other assistance to support individuals, companies, states, and local governments to survive the collapsed economic confusion. Programs include $ 1200 per adult, $ 500 per child under the age of 17, paying salary protection programs to support small and mediu m-sized enterprises, Nevada and local governments. Includes $ 125 billion from the Crown Relief Fund to cover the relevant costs and several emergency unemployment insurance programs, including additional $ 600 weeks until July 25. The seriousness of the economic crisis is being revealed in official data, which is usually announced more than one month later. The state's unemployment rate in March 2020 was 6. 4 %, up 2. 6 points from the previous month, recording the highest in the past four years. Depending on the timing of data collection, this figure has caused the rayoffs of operators such as Caesters Entertainment, Void Gaming, and MGM Resorts International, and after the closing of all gaming facilities of unnecessary and urgent businesses by the state. Most of the loss of employment has been overlooked.

The COVID-19 stagnates the global economy and has been uncertain. In the United States, elections' leaders, scientists, and health experts are working together to suppress the spread of viruses and ultimately resume the economy. How it is done in Nevada is as unclear as the timeline before people feel safe enough to return to Node 19 before. On the other hand, scientists are working on the development of treatments and vaccines to achieve it as soon as possible, and Nevada will be waiting for it.

In recent years, the rapid increase in population has led to a major demand for housing, which is reflected in the housing price index published by the Federal Housing Finance Agency. From 2013 to 2018, the annual growth rate of housing prices only in the state market is between 9. 5 % and 22. 5 %, and Nevada regularly is located at the top of the state ranking or nearby. The yea r-end growth rate in Nevada in 2018 was 10, 7%, the second fastest growth rate in Jeonju. At the end of 2019, the annual growth rate of the index fell to 3. 7%, the ninth growth rate in the United States.

In the southern part of Nevada, the rising trend of housing prices has slowed down compared to before. According to Salestraq, in December 2019, the average contract price of used houses was $ 280. 000, increasing 7. 7%yea r-o n-year. This month, the ratio of the yea r-o n-year year was a high level since February 2019, in the year, which is generally a higher price increase. On a 1 2-month average basis, the average house price intensity in 2019 rose 6 or 1 %, with the latest yea r-o n-year increase since 2011. In 2019, the total number of secon d-hand housing sales decreased by 45 and 841, down 45 and 841, continued to decline the sales volume. In 2019, the number of used houses has decreased for the second consecutive year, suggesting that lon g-term trends, which are rising and limited stock, are beginning to affect sales activities. COVID-19 stagnates the global economy and has been uncertain. In the United States, elections' leaders, scientists, and health experts are working together to suppress the spread of viruses and ultimately resume the economy. How it is done in Nevada is as unclear as the timeline before people feel safe enough to return to Node 19 before. On the other hand, scientists are working on the development of treatments and vaccines to achieve it as soon as possible, and Nevada will be waiting for it.

In the southern part of Nevada, the rising trend of housing prices has slowed down compared to before. According to Salestraq, in December 2019, the average contract price of used houses was $ 280. 000, increasing 7. 7%yea r-o n-year. This month, the ratio of the yea r-o n-year year was a high level since February 2019, in the year, which is generally a higher price increase. On a 1 2-month average basis, the average house price intensity in 2019 rose 6 or 1 %, with the latest yea r-o n-year increase since 2011. In 2019, the total number of secon d-hand housing sales decreased by 45 and 841, down 45 and 841, continued to decline the sales volume. In 2019, the number of used houses has decreased for the second consecutive year, suggesting that lon g-term trends, which are rising and limited stock, are beginning to affect sales activities. The COVID-19 stagnates the global economy and has been uncertain. In the United States, elections' leaders, scientists, and health experts are working together to suppress the spread of viruses and ultimately resume the economy. How it is done in Nevada is as unclear as the timeline before people feel safe enough to return to Node 19 before. On the other hand, scientists are working on the development of treatments and vaccines to achieve it as soon as possible, and Nevada will be waiting for it.

The newly built market in southern Nevada shows the same trend, and the average price in December 2019 is $ 8. 944 from the previous year, and the total number of new housing decreased by 1, 3 %9. The number of housing permit issued in 2019. Falling 2, 6 % yea r-o n-year to 10. 506, and the construction of a newly built home showed signs of deceleration. As the cost of land, labor, and materials has been high, the product composition and average size of the newl y-built houses have contributed to the price trends in newly built houses.

In the northern part of Nevada, the trends of selling prices and activities were until the end of 2019. In the used housing market, the average contract price was 369. 500, up 11, 70 % from $ 330. 750 in the previous year, with a total of 7. 806, a total of 7. 806, an increase in the number of used houses. In the newly built housing division, the average selling price dropped 3. 6 % from $ 453. 753 to $ 437. 241.

The number of housing permit issued in northern Nevada increased 16, 6 % in 2019, increasing from 4. 450 to 5. 189. All this growth is based on permission from mult i-house housing, up 41, 5 %in 2019 3. The number of detached houses permitted in the area is 7, 6 %down 2. This. The tendency suggests that architectural activities are shifting to respond to rapidly increasing labor and population infrastructure while balancing affordable prices.

Nevada's real estate market has grown significantly as the population and employment increase. These trends may show signs of moderation in the latter half of 2019 and face further decrease in anticipation of Cobid 19's epidemic. It is expected that the decrease in nationwide travel, sports events, conventions, and other larg e-scale cancellations of larg e-scale public rally will have a significant impact on Nevada's tourist sector and economic economy. The driving force and the actual impact are still unknown, but the sluggish local economy will be apparent throughout the state's housing market. The newly built market in southern Nevada shows the same trend, and the average price in December 2019 was $ 8. 944 from the previous year, and the total number of new houses was reduced by 1, 3 %. The number of housing permit was 10. 506, down 2, 6 % yea r-o n-year, showing signs of deceleration in new housing. As the cost of land, labor, and materials has been high, the product composition and average size of the newl y-built houses have contributed to the price trends in newly built houses.

Nevada's real estate market has grown significantly as the population and employment increase. These trends may show signs of moderation in the latter half of 2019 and face further decrease in anticipation of Cobid 19's epidemic. It is expected that the decrease in nationwide travel, sports events, conventions, and other larg e-scale cancellations of larg e-scale public rally will have a significant impact on Nevada's tourist sector and economic economy. The driving force and the actual impact are still unknown, but the sluggish local economy will be apparent throughout the state's housing market. The newly built market in southern Nevada shows the same trend, and the average price in December 2019 is $ 8. 944 from the previous year, and the total number of new housing decreased by 1, 3 %9. The number of housing permit issued in 2019. Falling 2, 6 % yea r-o n-year to 10. 506, and the construction of a newly built home showed signs of deceleration. As the cost of land, labor, and materials has been high, the product composition and average size of the newl y-built houses have contributed to the price trends in newly built houses.

While Nevada's economy has diversified significantly in recent years, tourism remains the leading driver of the state's economy. Currently, tourism employs nearly one in four Nevadans and pays nearly 20% of all wages. In particular, the health of Southern Nevada's tourism industry determines the state's economy, as many of the tourists who visit Nevada visit Southern Nevada. The region's tourism industry saw slight improvements across the board in 2019 compared to 2018. Measures that improved included visitor numbers, contracted attendance, occupancy rates, Las Vegas Vegas revenues, and average daily room rates. The only measure that did not improve was Las Vegas gaming revenues, which remained stable.

After declines in 2017 and 2018, visitor numbers increased 1. 1% to 42. 6 million in 2019, the highest total since 2016 and the second-highest total since 2018. Strong convention attendance boosted visitor numbers, which increased 2. 3% to 6. 6 million in 2019, the highest total since 2017. Convention visitors made up 15. 6% of total visitors in 2019. Convention attendance in 2019 was 20. 7% in Las Vegas, the largest city in the country, according to the American Association of Healthcare Pharmacists (under the Convention and Las Vegas Convention and Visitors Bureau). In addition, McCarran International Airport continued to record strong passenger numbers, with the airport's total passenger numbers exceeding 50 million for the first time in 2019. McCarran's total passenger numbers in 2019 were 51. 5 million, 3. 7% higher than the full year of 2018.

Hotels in the Las Vegas area have improved in 2019. The average occupancy rate in 2019 increased by 0. 8 points to 89. 0 %, and the average daily room unit price increased by 3. 3 % to $ 128. 74 to $ 133. 05. The hotels in South Nevada have charged more rates and not only filled more rooms, but also generated more profits from available hotel inventory. REVPAR (REVPAR), a available room, increased by 4, 2 % in 2019, rising from 113, $ 54 to $ 118 and $ 33. The average room operating rate, the average daily room price, and REVPAR returned to the peak before the economy retreat in 2019. In particular, the gaming income in Las Vegas in downtown was strong in 2019. Downtown's revenue has been a powerful growth in 2019, up 5. 4 % to $ 684. 9 million, the highest since 2001. The strip gaming income was stable at $ 6. 6 billion in 2019, but the total and 2018 were the highest in the total gaming revenue since 2007.

With a view to 2020, the investment and construction in the southern part of Nevada will reflect the optimistic outlook on the state's tourism economy, and the tourism industry will increase the sustainability over the long term. Currently, a tourist project of $ 18. 6 billion is under planned and constructed in South Nevada, of which $ 11 billion is under construction. Construction projects, which are expected to be completed within the next two years, include new resorts, event centers, such as resort World Las Vegas, Allee Stadium, Las Vegas Convention Center, Caesters Forum Convention Center. Includes a convention center venue. Resort World Las Vegas plans to add 3. 500 guest rooms to the northern end of the Las Vegas Strip, and the Allzant Stadium will attract more tourists in Las Vegas during the NFL season as the home of Raiders. Hotels throughout the Las Vegas area improved in 2019. The average occupancy rate in 2019 increased by 0. 8 points to 89. 0 %, and the average daily room unit price increased by 3. 3 % to $ 128. 74 to $ 133. 05. The hotels in South Nevada have charged more rates and not only filled more rooms, but also generated more profits from available hotel inventory. REVPAR (REVPAR), a available room, increased by 4, 2 % in 2019, rising from 113, $ 54 to $ 118 and $ 33. The average room operating rate, the average daily room price, and REVPAR returned to the peak before the economy retreat in 2019. In particular, the gaming income in Las Vegas in downtown was strong in 2019. Downtown's revenue has been a powerful growth in 2019, up 5. 4 % to $ 684. 9 million, the highest since 2001. The strip gaming income was stable at $ 6. 6 billion in 2019, but the total and 2018 were the highest in the total gaming revenue since 2007.

With a view to 2020, the investment and construction in the southern part of Nevada will reflect the optimistic outlook on the state's tourism economy, and the tourism industry will increase the sustainability over the long term. Currently, a tourist project of $ 18. 6 billion is under planned and constructed in South Nevada, of which $ 11 billion is under construction. Construction projects, which are expected to be completed within the next two years, include new resorts, event centers, such as resort World Las Vegas, Allee Stadium, Las Vegas Convention Center, Caesters Forum Convention Center. Includes a convention center venue. Resort World Las Vegas plans to add 3. 500 guest rooms to the northern end of the Las Vegas Strip, and the Allzant Stadium will attract more tourists in Las Vegas during the NFL season as the home of Raiders. Hotels in the Las Vegas area have improved in 2019. The average occupancy rate in 2019 increased by 0. 8 points to 89. 0 %, and the average daily room unit price increased by 3. 3 % to $ 128. 74 to $ 133. 05. The hotels in South Nevada have charged more rates and not only filled more rooms, but also generated more profits from available hotel inventory. REVPAR (REVPAR), a available room, increased by 4, 2 % in 2019, rising from 113, $ 54 to $ 118 and $ 33. The average room operating rate, the average daily room price, and REVPAR returned to the peak before the economy retreat in 2019. In particular, the gaming income in Las Vegas in downtown was strong in 2019. Downtown's revenue has been a powerful growth in 2019, up 5. 4 % to $ 684. 9 million, the highest since 2001. The strip gaming income was stable at $ 6. 6 billion in 2019, but the total and 2018 were the highest in the total gaming revenue since 2007.

The new convention space, which will be completed in the next two years, such as the Win Convention Center, Forum Caesters, and the expanded Las Vegas Convention Center, will be a 2. 4 million square fifth meeting and convention space, and many conventions. It will attract participants. In addition, the forums will be 10. In addition to the additional space that will be completed in the next two years, Las Vegas will have a newer and larger capacity to hold conventions and trad e-offs. If these projects are completed in a timely manner behind the scenes, Las Vegas should be able to maintain its position as a powerful country.

The expansion of the retail taxation base is a proof that consumers and companies have a means of purchasing all kinds of products and the economy is healthy. In the past decade, the sustainable growth of Nevada's taxable retail sales reflects the recovery and growth of the state economy. The growth of retail sales of the silver state has been strong for the past 10 years and has ended 10 years as a highest year ever.

The lowest in the past 10 years, the lowest sales in 2009, was $ 38. 4 billion. From 2009 to 2018 (the last year of sales data), the annual taxable retail sales were $ 22. 4 billion, 58. 4 % increased, and the annual growth rate was 52 %. On a 1 2-month basis, taxable sales continued to increase in 2019, with the latest sum of $ 63. 8 billion in October 2019, up 6. 3 % yea r-o n-year.

Clark County and Washo County have led taxes in the past decades, with 73. 4 % of the states and 14. 1 %, respectively, in their jurisdictions. From 2009 to 2018, the annual tax retail in Clark County increased $ 15. 8 billion, and the annual growth rate was 5. 0 %. During the same period, the annual retail tax sales in Washo County increased $ 3. 4 billion, and the annual growth rate was 5. 8 %. The new convention space, which will be completed in the next two years, such as the Win Convention Center, the Forum Caesters, and the expanded Las Vegas Convention Center, will be a 2. 4 million squar e-foot meeting, convention and space. It will attract many convention participants. In addition, the forums will be 10. In addition to the additional space that will be completed in the next two years, Las Vegas will have a newer and larger capacity to hold conventions and trad e-offs. If these projects are completed in a timely manner behind the scenes, Las Vegas should be able to maintain its position as a powerful country.

The expansion of the retail taxation base is a proof that consumers and companies have a means of purchasing all kinds of products and the economy is healthy. In the past decade, the sustainable growth of Nevada's taxable retail sales reflects the recovery and growth of the state economy. The growth of retail sales of the silver state has been performing well for the past 10 years and ending 10 years as a record year.

Clark County and Washo County have led taxes in the past 10 years, and their sales in these jurisdictions account for 73. 4 % of the states, respectively, 14. 1 %. From 2009 to 2018, the annual tax retail in Clark County increased $ 15. 8 billion, and the annual growth rate was 5. 0 %. During the same period, the annual retail tax sales in Washo County increased $ 3. 4 billion, and the annual growth rate was 5. 8 %. The new convention space, which will be completed in the next two years, such as the Win Convention Center, Forum Caesters, and the expanded Las Vegas Convention Center, will be a 2. 4 million square fifth meeting and convention space, and many conventions. It will attract participants. In addition, the forums will be 10. In addition to the additional space that will be completed in the next two years, Las Vegas will have a newer and larger capacity to hold conventions and trad e-offs. If these projects are completed in a timely manner behind the scenes, Las Vegas should be able to maintain its position as a powerful country.

The expansion of the retail taxation base is a proof that consumers and companies have a means of purchasing all kinds of products and the economy is healthy. In the past decade, the sustainable growth of Nevada's taxable retail sales reflects the recovery and growth of the state economy. The growth of retail sales of the silver state has been performing well for the past 10 years and ending 10 years as a record year.

Clark County accounts for almost thre e-quarters of the taxable retail sales in Nevada, which means that the strong performance of the county has become the main driving force for retail sales in the state. In particular, the restaurant and consumer service sales in Clark County accounted for 23. 6 % of the total tax sales, which was important for the government's sales growth. From 2009 to 2018, the annual taxation of eating out and consumption services increased from $ 6. 1 billion to $ 10. 5 billion, increasing $ 4. 4 billion (6. 2 %). The plus of this plus continued in 2019, with sales in October 2019, up to $ 10 to $ 10. 80 million, an increase of 4, 1 % yea r-o n-year.

Just as the whole state is, the strong local economy means that discretionary personal consumption in places such as bars and restaurants promote the growth of restaurants, beverage facilities and taxes. It means. The number of employees in Clark County increased by 236. 700 to 1. 04 million (29. 4 %) between October 2009 and October 2019. During the same period, the average weekly wage increased by $ 710 to $ 937 %. This suggests that residents have found a job and wages are rising.

A healthy national economy is also essential to Clark County's taxable retail sales, with visitor spending on dining and shopping contributing to more than $9 billion in annual taxable retail sales, or more than 21% of the county's total taxable sales. A low national unemployment rate of 3. 4% in December 2019 and other favorable national economic indicators that contributed to the largest economic expansion in U. S. history should support strong visitor trends (42. 3 million visitors in the 12 months ending in October) and further growth in taxable retail sales.

California has been Nevada's primary source of new residents throughout its development history. This was true in 2018, when the Silver State's population growth rate of 2. 1% was the highest in the nation, according to the U. S. Census Bureau. More than 50, 000 Californians moved to Nevada during this period, representing more than four in every 10 new residents moving to Nevada. Southern Nevada, home to three-quarters of the state's population, and its population growth rate 2. Also, like the state's population, Californians typically account for more than one-third of newcomers.

For Californians, Southern Nevada has been a particularly attractive place to relocate because of its relatively low cost of living. The livability of Southern Nevada is measured by the Cost of Living Index, an index released by the Council for Community and Economic Research that compares the livability of metropolitan areas across the United States. In the third quarter of 2019, the Las Vegas metropolitan area's cost of living index score was 102. 8, meaning that the cost of living in the area is 2. 8% higher than the national average. This score is significantly lower than that of California's three largest metropolitan areas, Los Angeles, San Francisco, and San Diego, meaning that Las Vegas is more affordable. The cost of living indexes for the Los Angeles, San Francisco, and San Diego metropolitan areas were 148, 1, 200, 1, 143, and 3, respectively. In terms of purchasing power, a dollar spent in the Las Vegas metropolitan area has as much purchasing power as a dollar spent in Los Angeles, as much as a dollar spent in San Francisco, as much as a dollar spent in San Diego. A healthy national economy is also essential to Clark County's taxable retail sales, with visitor spending on dining and shopping contributing to more than $9 billion in annual taxable retail sales, or more than 21% of the total taxable sales in the county. A low national unemployment rate of 3. 4% in December 2019 and other favorable national economic indicators that contributed to the largest economic expansion in U. S. history should support robust visitor trends (42. 3 million visitors in the 12 months ending in October) and further growth in taxable retail sales.

California has been Nevada's primary source of new residents throughout its development history. This was true in 2018, when the Silver State's population growth rate of 2. 1% was the highest in the nation, according to the U. S. Census Bureau. More than 50, 000 Californians moved to Nevada during this period, which is more than four in every 10 new residents moving to Nevada. Southern Nevada, which is home to three-quarters of the state's population, and its population growth rate of 2. And, like the state's population, Californians typically account for more than one-third of newcomers.

The living expenses indicators other than the housing expenses were higher in these California metropolitan areas compared to Las Vegas. Las Vegas's transportation expenses are 110, 8, 15 to 30 points lower than the three major metropolitan areas of California. Las Vegas's utilities are 99, 9, 6 to 22 points lower than the three major metropolitan areas of California. Las Vegas's medical expenses 99, 6, 10-28 points lower than the three major metropolitan areas in California, 95, 1 in Las Vegas, 21 to 32 points lower than the three major metropolitan areas in California.

The cost of living in southern Nevada is so low that it helps to offset relatively low wages in the area. The average weekly wage in the Las Vegas metropolitan area in October 2019 was $ 830. 03, while $ 1. 047 in California's three major metropolitan areas. This difference seems to be disadvantageous for workers in southern Nevada. However, considering the differences in living expenses, the weekly witnesses in the California metropolitan area are $ 706 to $ 765 in southern Nevada, significantly lower than the average weekly witness in the Las Vegas area. In other words, the $ 1 earned in the southern part of Nevada is farther than the $ 1 earned in urban areas in California. The largest is the difference in living expenses in urban areas in South Nevada and California. In the third quarter of 2019, the Las Vegas area was 115. 8, which was 15. 8 % higher than the national average, but was about 2-3 times lower than the score of Los Angeles, San Francisco and San Diego Metro. The Los Angeles Metropolitan Area, 230, 230, 361, Sa n-Francisco metropolitan areas, and 214 and 4 in the San Diego metropolitan area. Although housing expenses in southern Nevada have recently risen significantly, it is highly likely that it will remain significantly lower than any of the three metropolitan areas in California for the time being, which is a major incentive for residents moving to the Las Vegas area. It is.

For decades, the relative prices in southern Nevada have become the main factors for thousands of California people to migrate to Nevada. Las Vegas Metropolitan Area, which has been rising in recent years (especially housing expenses), but has been quite low in terms of metropolitan areas of Los Angeles, San Francisco and San Diego, and tens of thousands of California people every year. It is unlikely that the tendency to become a state in the state will change quickly.

Nevada has recently experienced the most powerful employment growth in the United States, and although the annual employment growth rate in the United States and the state has slowed down, the silver state is still far above the United States. Since 2019, the annual employment growth rate in the United States fell from 2. 0 % to 1. 5 % in September. In Nevada, the employment growth rate during the same period fell from 4, 2 % to 3 and 2 %. However, the latest employment growth rate in Nevada was more than twice as much as the United States, overwhelming other states.

The number of employment increases in Nevada last year is 45. This increase is mainly due to an increase in two important sectors, increasing the number of construction sector and 9. 700 specialized and business service sector. The two categories alone accounted for 43. 2 % of all employment increased in Nevada last year.

The continuous population increased and the larg e-scale construction projects in the state contributed to the increase in the employment of the construction department, leading all sectors with an employment rate of 10. 6 % yea r-o n-year. Employment of professionals, business and service sector has gained powerful growth in the past year, an increase of 5. 0 % yea r-o n-year. The government's demand for workers pushed wages, and the construction industry was the largest. The average weekly wage of the industry increased $ 326 and 29. 4 % from $ 1. 107 to $ 1. 432. The average average weekly salary rose 6. 6 % to $ 865. With a wide range of employment growth, the overall unemployment rate has fallen from 4. 5 % in September 2018 to 3. 8 % in one year, and this is the fourth time this year's unemployment rate is below 4. 0 %. Before 2019, the unemployment rate reached this level since 2006. For decades, the relative prices in southern Nevada have become the main factors for thousands of California people to migrate to Nevada. Las Vegas Metropolitan Area, which has been rising in recent years (especially housing expenses), but has been quite low in terms of metropolitan areas of Los Angeles, San Francisco and San Diego, and tens of thousands of California people every year. It is unlikely that the tendency to become a state in the state will change quickly.

The continuous population increased and the larg e-scale construction projects in the state contributed to the increase in the employment of the construction department, leading all sectors with an employment rate of 10. 6 % yea r-o n-year. Employment of professionals, business and service sector has gained powerful growth in the past year, an increase of 5. 0 % yea r-o n-year. The government's demand for workers pushed wages, and the construction industry was the largest. The average weekly wage of the industry increased $ 326 and 29. 4 % from $ 1. 107 to $ 1. 432. The average average weekly salary rose 6. 6 % to $ 865. With a wide range of employment growth, the overall unemployment rate has fallen from 4. 5 % in September 2018 to 3. 8 % in one year, and this is the fourth time this year's unemployment rate is below 4. 0 %. Before 2019, the unemployment rate reached this level since 2006. For decades, the relative prices in southern Nevada have become the main factors for thousands of California people to migrate to Nevada. Las Vegas Metropolitan Area, which has been rising in recent years (especially housing expenses), but has been quite low in terms of metropolitan areas of Los Angeles, San Francisco and San Diego, and tens of thousands of California people every year. It is unlikely that the tendency to become a state in the state will change quickly.

In the Las Vegas metropolitan area, the total number of employees has increased by 2. 3 % and 23. 100 in the past year, indicating a powerful increase in employment. Leisure and customer service and construction industry accounted for most of the new employment in the region, increasing the employment of 8. 300 and 5. 900, respectively. A total of 14. 200 employment of these sectors accounted for 61. 5 % of new employment in the Las Vegas region in the past year. The construction industry was the most rapidly growing department in the Las Vegas area, and the total employment increased by 9. 0 %. The employment growth in the Las Vegas area was reflected in the local unemployment rate, which fell to 4, 0 % in September 2019, improved from 4 and 8 % recorded one year ago, and recorded in over a dozen years. It is one of the low rates.

The number of employees in the Lino metropolitan area last year is 5. Leading this growth is the specialty, business service, manufacturing, trade, transportation, and public interest. Combined with these three divisions, last year's employment increased by 9. 700, accounting for 72. 9 % of the entire linos.

The professional / business service and manufacturing industries are not only the highest number of new employments, but also the most rapidly growing divisions in the area. In the past year, employment of specialized and business service departments has increased 14. 1 %, and manufacturing employment has increased by 10. 5 %. The employment of the trade, transportation and public interest business divisions has gained 2. 500 new employment of 2. 500 a year, increasing 4. 7 % a year. With the remarkable increase in Reno in the past year, the unemployment rate has fallen below 3. 0 % since 1999. The Las Vegas Metropolitan Area has shown a powerful increase in total employment in the past year, 2. 3 % and 23. 100. Leisure and customer service and construction industry accounted for most of the new employment in the region, increasing the employment of 8. 300 and 5. 900, respectively. A total of 14. 200 employment of these sectors accounted for 61. 5 % of new employment in the Las Vegas region in the past year. The construction industry was the most rapidly growing department in the Las Vegas area, and the total employment increased by 9. 0 %. The employment growth in the Las Vegas area was reflected in the local unemployment rate, which fell to 4, 0 % in September 2019, improved from 4 and 8 % recorded one year ago, and recorded in over a dozen years. It is one of the low rates.

The professional / business service and manufacturing industries are not only the highest number of new employments, but also the most rapidly growing divisions in the area. In the past year, employment of specialized and business service departments has increased 14. 1 %, and manufacturing employment has increased by 10. 5 %. The employment of the trade, transportation and public interest business divisions has gained 2. 500 new employment of 2. 500 a year, increasing 4. 7 % a year. With the remarkable increase in Reno in the past year, the unemployment rate has fallen below 3. 0 % since 1999. In the Las Vegas metropolitan area, the total number of employees has increased by 2. 3 % and 23. 100 in the past year, indicating a powerful increase in employment. Leisure and customer service and construction industry accounted for most of the new employment in the region, increasing the employment of 8. 300 and 5. 900, respectively. A total of 14. 200 employment of these sectors accounted for 61. 5 % of new employment in the Las Vegas region in the past year. The construction industry was the most rapidly growing department in the Las Vegas area, and the total employment increased by 9. 0 %. The employment growth in the Las Vegas area was reflected in the local unemployment rate, which fell to 4, 0 % in September 2019, improved from 4 and 8 % recorded one year ago, and recorded in over a dozen years. It is one of the low rates.

Continued investment in both Las Vegas and Reno bodes well for future job growth. With $390. 7 billion in planned investment and under construction across the state, demand for construction jobs is likely to remain strong for the time being. Additionally, $19. 1 billion in tourism investment planned or under construction in the Las Vegas area will support new leisure and hospitality jobs, while major non-tourism investments across the state, such as the Tesla Gigafactory, Google Data Center, and Switch Citadel, will support further growth in the state's technology-related sector.

In recent years, Nevada has been one of the fastest growing economies in the nation. Year-over-year, Nevada's total employment grew 3. 0% from August 2018 to August 2019, second only to Utah. The state's unemployment rate also continued to decline, falling 0. 3 percentage points over the past year to 4. 2% in August 2019. This strong growth trend, which has been going on for several years, naturally attracts all kinds of investment and growth, including investments in hospitality and technology, helping the state's economy remain a strong, diverse and sustainable source of growth for years to come.

Hospitality remains the core of the Las Vegas metropolitan economy, and there are several pipeline investments under construction or nearing completion to strengthen the core of the local economy by creating jobs and attracting tourists. The three largest tourism-related investments are Resorts World Las Vegas, Allegiant Stadium, and the Las Vegas Convention Center expansion, which will total $7. 6 billion and are scheduled for completion in 2020. Not only will these three projects create many jobs locally, but they all appeal to distinct demographics in the tourism market, such as marketplace and football fans, helping to diversify the tourist demographic. Other projects in the total tourism-related investment of $19. 1 billion include the MSG Sphere and Wynn Convention Center, currently under construction, and planned projects such as the Drew and Moulin Rouge Casino Hotel.

In Southern Nevada, a number of important non-tourism projects are under construction that will help diversify the local economy. These include Union Village (scheduled for completion in 2025, $1. 2 billion) and Google Data Center (scheduled for completion in late 2020, $600 million). Union Village is a vast health-based community in Henderson that will include a dialysis clinic, fitness center, multiple condominium projects, hotels, and retail space. Google Data Center, also in Henderson, will support the internet infrastructure and create high-paying jobs.

The Reno metropolitan area is seeing a series of large-scale investments that will contribute to the continued transformation of the local economy. A total of $15. 2 billion in investments are planned or under construction in Northern Nevada, with the Tesla Gigafactory ($6 billion) and Switch Citadel ($4 billion) accounting for nearly two-thirds of the total. The second phase of the Gigafactory is scheduled to be completed in 2020, and the second phase of Switch Citadel in 2025. When completed, the Tesla Gigafactory will be the largest building in the world and will run exclusively on renewable energy. Similarly, Switch Citadel will run exclusively on renewable energy and will have 7. 2 million square feet of data center space when it is finally built. Switch's current 1. 3 million square foot facility is the largest data center in the world. These two investments are helping make Northern Nevada a globally significant technology hub.

Many of the recently completed and ongoing projects are part of an ongoing effort to diversify and strengthen Nevada's economy. The Hackman Index, a measure of economic diversity, measures the overall diversity of a region's economy compared to the state as a whole, with scores closer to 100 indicating a more diverse region's economy. Over the past decade, Nevada's economy has significantly improved in diversity, with the Hackman Score increasing by 7. 1 points (9. 6%) from 73. 6 to 80. 7. The Las Vegas metropolitan area's Hackman Score increased by 7. 2 points to 73. 3, an increase of 10. 9%, and Northern Nevada's Hackman Score increased by 1. 6 points, an increase of 1. 8%. New development creates jobs, which attracts people, which in turn leads to new jobs in a variety of industries. One bright spot in Nevada's economic expansion has been the recovery of its housing market, which was one of the hardest hit in the nation during the recession a decade ago. Strong employment and population growth trends have driven the state's economic growth, and rising incomes and residents have spurred housing demand across the state.

Nevada's home price growth has been at or near the top of the national rankings for several years now. According to the Federal Mortgage Finance Association's Home Price Index, Nevada was in the top three states for annual home price growth in seven of the past eight quarters ending in June 2019, and led the state for three months. Meanwhile, Southern Nevada was the nation's hottest housing market for much of 2018, with S& P Corelogic Case-Shiller's S& P Home Price Index up 14% year over year. This trend continued in 2019, with home prices increasing 5. 5% year over year in June 2019, making Southern Nevada the second-highest market in the nation after Phoenix.

Southern Nevada's new construction market has expanded to meet the demands of a growing economic and population base, benefiting from rising home prices and sales. The average price of a new home peaked at $410, 000 in December 2018, and new home sales in the past year exceeded nearly 10, 000 in a 12-month period, the highest total in more than a decade. These indicators rose along with the issuance of new home building permits, as builder activity increased from less than 4, 000 per year in 2011 to more than 10, 000 in 2018.

Like the broader housing market, Southern Nevada has recently shown signs of a slowdown in the long-term upward trend in the new home sector. The region's months of available inventory for single-family homes increased to about two and a half months as of August 2019, up from less than two months as it occurred for most of 2017 and 2018.

Overall, the 12-month total of new home sales recorded a declining annualized growth rate for most of 2019. These totals had increased at double-digit rates for 11 consecutive months and 41 of 43 months, up to a 13. 3% growth rate recorded in February 2019. Since then, the year-over-year growth rate has declined to 0. 8% in July 2019, the most recent data available. The average sales price of new homes followed suit, falling to $381, 490 from a high of $410, 000 in December 2018. In comparison, the 12-month total of existing home sales has declined for 11 consecutive months, but existing home prices have continued to rise, rising 5. 8% year-over-year to $275, 000 in July 2019. The cooling of the Southern Nevada new construction market is also reflected in local new permit activity, with the annualized growth rate of home sales activity declining for the third consecutive month in the 12 months ending July 2019. Labor shortages, rising labor costs, and rising material costs may also be contributing to the decline in construction activity.

The situation of Washo County did not follow the southern part of Nevada, as the housing prices and the number of contracts continued to increase through 2019. The total of 12 months of newly built houses in the Washo County increased for 17 consecutive months, and the rate of 10 months out of the past 12 months was over 10 %. On the other hand, the price of newly built houses in the Washo County is continuing to rise, and as the economy in this area grows rapidly, it indicates that new housing buyers who are eager to purchase new houses regardless of price rise are strong. I am.

Housing construction activities and real estate markets in the southern and northern part of Nevada contributed to the state of construction economy in the state. In the past year, construction employment throughout the state has increased to 98. 600 (as of July 2019), an increase of 7. 800 in one year (8 or 5 % increase). The average wage of the whole state of the whole state has been even more remarkable, and the average weekly wage of construction workers in July 2019 has reached $ 1. 427, increasing $ 326 (29, 6 %) from the same period of the previous year.

Nevada's newly built housing market is growing in conjunction with economic fortune in the state, and continues to be good in population, employment growth, and other major economic indicators, which gains a growing demand for housing in the whole state. The construction of housing to satisfy will continue to support.

The recent reduction in Federal fund interest rates by the Federal Reserve (Fed) has been reduced to almost zero in the event of a financial crisis ten years ago. This movement reduced the Federal Fund interest rate to 2. 25 % by the Federal Reserve Council (Fed) when borrowing each other. The Federal Preparatory System Board (Fed) stimulates or relieves the economy, balancing the maximum employment and stable inflation with interest rates as a leverage. Regarding the latest interest rate cuts, the Federal Preparatory System Board (Fed) stated that it would protect the growing economy from opaque international trade factors and overseas growth. The situation of Washo County did not follow the trends in the southern Nevada, as the housing prices and the number of contracts continued to increase through 2019. The total of 12 months of newly built houses in the Washo County increased for 17 consecutive months, and the rate of 10 months out of the past 12 months was over 10 %. On the other hand, the price of newly built houses in the Washo County is continuing to rise, and as the economy in this area grows rapidly, it indicates that new housing buyers who are eager to purchase new houses regardless of price rise are strong. I am.

The recent reduction in Federal fund interest rates by the Federal Reserve (Fed) has been reduced to almost zero in the event of a financial crisis ten years ago. This movement reduced the Federal Fund interest rate to 2. 25 % by the Federal Reserve Council (Fed) when borrowing each other. The Federal Preparatory System Board (Fed) stimulates or relieves the economy, balancing the maximum employment and stable inflation with interest rates as a leverage. Regarding the latest interest rate cuts, the Federal Preparatory System Board (Fed) stated that it would protect the growing economy from opaque international trade factors and overseas growth. The situation of Washo County did not follow the southern part of Nevada, as the housing prices and the number of contracts continued to increase through 2019. The total of 12 months of newly built houses in the Washo County increased for 17 consecutive months, and the rate of 10 months out of the past 12 months was over 10 %. On the other hand, the price of newly built houses in the Washo County is continuing to rise, and as the economy in this area grows rapidly, it indicates that new housing buyers who are eager to purchase new houses regardless of price rise are strong. I am.

Interest rates have a significant impact on employment because borrowing costs are passed on from banks to companies. As a result, personal consumption and product demand decrease, leading to a decrease in wages in other economies. On the other hand, if interest rates decline, banks will reduce interest rates and promote expenditures for companies and households.

The national core inflation rate is below 2 %, the target level of the Federal Reserve (Fed), and the unemployment rate is stable near 4 %. The US economy is ideal to be operated in full employment, and is also known as no n-accelerated unemployment inflation ("domestic demand"). Complete employment does not mean that the unemployment rate is zero, but a turning point in which inflation increases. This is because if the unemployment rate falls below this level, inflation accelerates. The theory behind this reverse correlation is that when the unemployment rate declines, companies must raise wages to the same labor. The company raises the price of products and services to make up for the rising labor costs. According to the Centuruis Federal Reserve Council (Fed), the current unemployment rate has not yet risen as expected despite the 4. this theory.

In the growing Nevada economy, the average wage has increased significantly due to an increase in employment and a decline in unemployment. The state has been enjoying the highest employment growth rate in the United States for the past nine months, and the total employment of Nevada has increased by 3, 4 % for the past 12 months, 46. Since June of year, it has always been in the top five states. As a result, the state's unemployment rate was 4. 5 %, close to Nevada's level before the economic retreat, slightly exceeding the unemployment rate of 3. 7 % in the United States. Interest rates have a significant impact on employment because borrowing costs are passed on from banks to companies. As a result, personal consumption and product demand decrease, leading to a decrease in wages in other economies. On the other hand, if interest rates decline, banks will reduce interest rates and promote expenditures for companies and households.

In the growing Nevada economy, the average wage has increased significantly due to an increase in employment and a decline in unemployment. The state has been enjoying the highest employment growth rate in the United States for the past nine months, and the total employment of Nevada has increased by 3, 4 % for the past 12 months, 46. Since June of year, it has always been in the top five states. As a result, the state's unemployment rate was 4. 5 %, close to Nevada's level before the economic retreat, slightly exceeding the unemployment rate of 3. 7 % in the United States. Interest rates have a significant impact on employment because borrowing costs are passed on from banks to companies. As a result, personal consumption and product demand decrease, leading to a decrease in wages in other economies. On the other hand, if interest rates decline, banks will reduce interest rates and promote expenditures for companies and households.

Nevada's unemployment rate is higher than the US average, but its recent wage increase rate is easily higher than the US wage increase rate. For the past 12 months, the average weekly wage of the state has increased by 8. 2 %, rising $ 792 to $ 858 in June 2019. During the same period, weekly wages in the United States are 2, 8 % growth, less than half the growth rate in Nevada. The parallel of labor and wage growth suggests that Nevada's labor markets have further expansion.

Another plus for Nevada is that wages are rising at a pace exceeding inflation rate. Over the past year, the US consumer consumer price index has risen by 2. 7 %, whereas Nevada has risen 8. 2 %. This is equivalent to the actual wage increase rate of Nevada workers. By region, the average weekly wage in the Las Vegas metropolitan area in the first quarter of 2019 increased by 3, 1 % yea r-o n-year, and wages in the Linin areas increased 19 and 9 %. Adjusted with the living expenses index in each region, the purchase power of wages increased by 1, 0 % in the southern part of Nevada, 18 and 1 % in northern Nevada, and the average weekly wage increased 19. 9 % yea r-o n-year. 。

The recent interest rate of the US Federal Preparatory System (Fed) and the possibility that another reinforcement will be held in the next few months may lead to an in the near future, but at the moment, Nevada people. Is experiencing the benefits created by the rise in wages and the relatively low inflation rate.

In recent months, US gasoline prices have plummeted. The average weekly price of regular gasoline, which has risen steadily from 2016 to October 2018, has dropped from $ 2, 88 to $ 2 and $ 2 per gallon by January 2019, and has plummeted for $ 65 for the past two years. The cheapest price was recorded. According to the US Energy Information Bureau (hereinafter referred to as the "EIA"), it rebounded to $ 2 and 90 cents in May, dropping 25 cents by the end of June, and recovering to $ 80 in mi d-July. Despite the rise in summer prices, the average price remains 3 cents per gallon than one year ago. Nevada's unemployment rate is higher than the USA average, but recent wage rise rates are easily higher than the U. S. wage rise. For the past 12 months, the average weekly wage of the state has increased by 8. 2 %, rising $ 792 to $ 858 in June 2019. During the same period, weekly wages in the United States are 2, 8 % growth, less than half the growth rate in Nevada. The parallel of labor and wage growth suggests that Nevada's labor markets have further expansion.

In recent months, US gasoline prices have plummeted. The average weekly price of regular gasoline, which has risen steadily from 2016 to October 2018, has dropped from $ 2, 88 to $ 2 and $ 2 per gallon by January 2019, and has plummeted for $ 65 for the past two years. The cheapest price was recorded. According to the US Energy Information Bureau (hereinafter referred to as the "EIA"), it rebounded to $ 2 and 90 cents in May, dropping 25 cents by the end of June, and recovering to $ 80 in mi d-July. Despite the rise in summer prices, the average price remains 3 cents per gallon than one year ago. Nevada's unemployment rate is higher than the US average, but its recent wage increase rate is easily higher than the US wage increase rate. For the past 12 months, the average weekly wage of the state has increased by 8. 2 %, rising $ 792 to $ 858 in June 2019. During the same period, weekly wages in the United States are 2, 8 % growth, less than half the growth rate in Nevada. The parallel of labor and wage growth suggests that Nevada's labor markets have further expansion.

According to AAA, the price of regular gasoline in the Las Vegas metropolitan area rose to $3. 27. Drivers in the Reno metropolitan area paid even more, with an average price of $3. 46 per gallon. On average, gasoline prices rose 5 cents per gallon statewide, 7 cents per gallon in the Las Vegas area, and 3 cents per gallon in the Reno area compared to the previous year.

Higher gasoline prices typically lead drivers to consume less. However, during the longest economic recovery, the largest economic expansion in U. S. history, Clark County has seen overall gasoline consumption increase every year since 2011. Notably, from 2015 to 2017, gasoline consumption growth outpaced regional population growth in both the state and Clark County, suggesting consumer behavior was relatively unaffected by price increases.

This trend has since changed. In 2017, gasoline sales per capita were 409. 7 gallons statewide and 384. 1 gallons in Clark County. A year later, the statewide figure dropped to 407. 7 and Clark County's figure dropped to 379. 5 gallons per capita. Total 12-month sales of gasoline gallons in April 2019 fell 1% compared to the same month last year, but population growth indicators such as electric meter connectors and driver's licenses issued at least doubled. These data suggest that the trend of slowing gasoline consumption in Nevada may continue into 2019 as population growth outpaces gasoline consumption.

Higher gasoline prices may also affect visitation to the Las Vegas area, as just over half of tourists who visit Las Vegas arrive by car. Southern California is the starting point for about 19 percent of annual visitors to Las Vegas, and the majority of these 8 million visitors drive on Interstate 15 as their preferred travel option. California has the highest gasoline prices in the nation, typically about 50 cents above the average price in Nevada. For example, the latest average price per gallon for regular gasoline is $3. 75, nearly a dollar higher than the national average and about 10 cents higher than the state average a year ago.

However, the average daily automobile traffic on the border between Nevada and California has declined only by 0. 1 % average on a average of 12 months, so the price increase has almost affected tourists driving so far. It doesn't seem to be given. EIA believes that gasoline prices have already reached peak in 2019 when gasoline prices approached $ 2 per gallon in May. The institution predicts that the national average gasoline price will remain around $ 2 65 cents per gallon during the remaining period of this year, for Nevada, California, and Americans for other products and services. Provides additional income.

The EIA forecast is based on the global crude oil market supply and demand trends. In terms of supply, it is expected that the production and deceleration of the Petroleum Exporting Country Organization ("OPEC"), which are a member of 14 countries, will continue. However, the deceleration is expected to be offset in April by no n-OPEC countries, including the United States, which exceeded 12 million barrels per month. In terms of demand, EIA predicts that the deceleration of the global economy will slow down the world's oil consumption. It is expected that gasoline prices will continue to fall in the United States from the end of the year to next year, combined with these factors.

In recent months, US gasoline prices have plummeted. The average weekly price of regular gasoline, which has risen steadily from 2016 to October 2018, has dropped from $ 2, 88 to $ 2 and $ 2 per gallon by January 2019, and has plummeted for $ 65 for the past two years. The cheapest price was recorded. According to the US Energy Information Bureau (hereinafter referred to as the "EIA"), it rebounded to $ 2 and 90 cents in May, dropping 25 cents by the end of June, and recovering to $ 80 in mi d-July. Despite the rise in summer prices, the average price remains 3 cents per gallon than one year ago. However, the average daily automobile traffic on the border between Nevada and California has decreased by only 0. 1 % a year on average 12 months, so the price increase has so far in driving tourists. It doesn't seem to have any influence. EIA believes that gasoline prices have already reached peak in 2019 when gasoline prices approached $ 2 per gallon in May. The institution predicts that the national average gasoline price will remain around $ 2 65 cents per gallon during the remaining period of this year, for Nevada, California, and Americans for other products and services. Provides additional income.

In recent months, US gasoline prices have plummeted. The average weekly price of regular gasoline, which has risen steadily from 2016 to October 2018, has dropped from $ 2, 88 to $ 2 and $ 2 per gallon by January 2019, and has plummeted for $ 65 for the past two years. The cheapest price was recorded. According to the US Energy Information Bureau (hereinafter referred to as the "EIA"), it rebounded to $ 2 and 90 cents in May, dropping 25 cents by the end of June, and recovering to $ 80 in mi d-July. Despite the rise in summer prices, the average price remains 3 cents per gallon than one year ago. However, the average daily automobile traffic on the border between Nevada and California has declined only by 0. 1 % average on a average of 12 months, so the price increase has almost affected tourists driving so far. It doesn't seem to be given. EIA believes that gasoline prices have already reached peak in 2019 when gasoline prices approached $ 2 per gallon in May. The institution predicts that the national average gasoline price will remain around $ 2 65 cents per gallon during the remaining period of this year, for Nevada, California, and Americans for other products and services. Provides additional income.

Nevada has maintained powerful economic growth for several years, and has always ranked high in the United States with several growth indicators, such as population, employment, and wages. However, as the state economy is performing well, the northern Nevada and the Reno region are the rapid expansion of the manufacturing and technology industries in this area, and are boosted by explosive investment and development projects. I'm done. Tesla breaks through Gigafactory's employment and payroll goals, and companies such as Apple and Google have continued to build and expand data centers at the Taho Reno Industrial Center (TRIC), blockchain financial technology, blockchain company company, Technologies, etc. Like the innovative business, LLC has expanded its business in Reno and has a large plan for the future, and it is a matter of developing some developments that are leading the growth of this area. There is no. However, the average daily automobile traffic on the border between Nevada and California has decreased by only 0. 1 % a year on average 12 months, so the price increase has so far in driving tourists. It doesn't seem to have any influence. EIA believes that gasoline prices have already reached peak in 2019 when gasoline prices approached $ 2 per gallon in May. The institution predicts that the national average gasoline price will remain around $ 2 65 cents per gallon during the remaining period of this year, for Nevada, California, and Americans for other products and services. Provides additional income.

Nevada has maintained powerful economic growth for several years, and has always ranked high in the United States with several growth indicators, such as population, employment, and wages. However, as the state economy is performing well, the northern Nevada and the Reno region are the rapid expansion of the manufacturing and technology industries in this area, and are boosted by explosive investment and development projects. I'm done. Tesla breaks through Gigafactory's employment and payroll goals, and companies such as Apple and Google have continued to build and expand data centers at the Taho Reno Industrial Center (TRIC), blockchain financial technology, blockchain company company, Technologies, etc. Like the innovative business, LLC has expanded its business in Reno and has a large plan for the future, and it is a matter of developing some developments that are leading the growth of this area. There is no. However, the average daily automobile traffic on the border between Nevada and California has declined only by 0. 1 % average on a average of 12 months, so the price increase has almost affected tourists driving so far. It doesn't seem to be given. EIA believes that gasoline prices have already reached peak in 2019 when gasoline prices approached $ 2 per gallon in May. The institution predicts that the national average gasoline price will remain around $ 2 65 cents per gallon during the remaining period of this year, for Nevada, California, and Americans for other products and services. Provides additional income.

In the 12 months ending April 2019, manufacturing employment in the Reno metropolitan area increased by 17. 7%, or about 4. 000 jobs, making it the fastest growing sector in the region. Since the beginning of 2017, the sector has added more than 11. 000 jobs, accounting for almost one-third of the total 35. 000 new jobs created during the period. This raised the overall share of manufacturing employment in the Reno region from 8. 2% to 10. 2%. While Tesla and Panasonic, a co-tenant at the Gigafactory, account for the majority of the sector's growth with about 7, 000 jobs, other manufacturers have grown alongside them, greatly increasing the sector's presence in the region.

However, manufacturing is not the only sector supporting the rapid rise of the Northern Nevada economy, as nearly all sectors have shown employment growth year-over-year. Through April 2019, the total number of employees in the Reno area had increased by 5. 6% year-on-year, far exceeding the 3. 6% growth rate for the entire state of Nevada and more than three times the national growth rate of 1. 6%. In fact, Reno's number of employees is the second largest among metropolitan areas in the United States, beating out Ocean City, New Jersey, which has only one-sixth the employment base of Reno. This growth has helped Reno's unemployment rate fall to 2. 9%, the lowest in the past 20 years, well below the U. S. unemployment rate of 4. 0% and 3. 6%.

Much of Reno's job growth has occurred in relatively high-wage industries, such as construction (up 17. 7% year-on-year), professional and business services (up 12. 8%), and manufacturing (up 9. 0%). This concentration of new high-wage jobs has led to a significant increase in the average weekly wage of workers in the Reno area. Over the past year, the average weekly wage of private sector workers in Nevada has increased by 5. 8%, the second highest growth rate in the nation after Wyoming. During the same period, the average wage in the Reno region has increased by 22. 2%, more than three times the state's. The average weekly wage of Reno workers across all industries is now $1. 008, 20. 5% higher than the state average of $836.

While economic growth in Northern Nevada is overall, the region also faces some challenges. Home prices in the Reno area are hitting new all-time highs and may be outpacing wage growth. In April 2019, the median price for a new home and townhouse/condo in Washoe County was $462, 000, while the median price for a resale home was $344, 000. In the Las Vegas area, home prices are rising rapidly, but overall costs remain much lower, with the average new home going for $396, 855 and the average resale home going for $269, 997. New home construction in Northern Nevada has increased in recent years, but developers have struggled to keep up with growing demand and rising input costs, especially construction wages, which have risen 28% through the past 12 months.

The current economic expansion is changing the Northern Nevada economy in many ways, creating a more diversified, high-tech, high-wage environment. As long as the national and state economies remain strong, the Reno region should continue to grow and attract more tech companies by capitalizing on its proximity to Silicon Valley, Nevada's business-friendly environment, and the region's potential.

Nevada has maintained strong economic growth for several years, consistently ranking high in the nation in several growth indicators, including population, employment, and wages. However, as strong as the state's economy is, Northern Nevada and the Reno region in particular are experiencing impressive growth, driven by the rapid expansion of the manufacturing and technology industries in the region, as well as an explosion of investment and development projects. Tesla has topped employment and salary targets for its Gigafactory, companies such as Apple and Google continue to build and expand data centers at the Tahoe-Reno Industrial Center (TRIC), and innovative businesses such as blockchain financial technology and blockchain company Company Technologies, LLC have expanded their operations in Reno and have big plans for the future, to name just a few developments that are driving the growth of the region.

While Northern Nevada's economic growth has been a boon overall, the region also faces some challenges. Home prices in the Reno area are reaching record highs and may outpace wage growth. In April 2019, the average new home between a detached house and a townhouse/apartment in Washoe County sold for more than $462, 000. 000, while the median price for a resale home was $344, 000. Home prices are also rising rapidly in the Las Vegas area, but overall costs remain much lower, with the average new home selling for $396, 855 and the average resale home selling for $269, 997. Northern Nevada has seen an uptick in new home construction in recent years, but developers have struggled to keep up with growing demand and rising input costs, especially construction wages, which have risen 28% statewide in the past 12 months. The current economic expansion is transforming the Northern Nevada economy in many ways, creating a more diversified, high-tech, high-wage environment. As long as the national and state economies remain strong, the Reno area should continue to grow, attracting more high-tech companies by leveraging its proximity to Silicon Valley, Nevada's business-friendly reputation, and the region's logistical strengths.

With a strong fourth quarter, Nevada's total gaming revenue finished 2018 with its highest annual growth rate in over a decade. State gaming revenue totaled $11. 9 billion for the year, a 3. 0% improvement over the previous year and the highest annual growth rate since 2006, when gaming revenue grew 8. 3%. However, the momentum from the end of 2018 has not carried over into 2019. Throughout the first quarter of the year, total gaming revenue has shown signs of slowing, but on closer inspection, much of the slowdown was linked to volatile trends in baccarat table game play.

For the 12 months ending March 2019, Nevada's gambling revenues totaled $11. 9 billion, up 1. 9% from the same period last year. The increase in statewide gambling revenues during this period was primarily due to a 3. 8% increase in slot machine revenues to $7. 8 billion. This increase was partially offset by a 1. 5% decrease in table games revenues to $4. 1 billion. In actual results for the past 12 months, slot revenues increased $285. 7 million and table games revenues decreased $62. 0 million.

Statewide trends were heavily influenced by Clark County, which accounts for 86. 0% of Nevada's gaming revenue. Clark County's total gaming revenue increased 1. 8% year over year for the 12 months ending in March 2019, driven by a 3. 9% increase in machine revenue. Slot machine revenue totaled $6. 4 billion for the period, resulting in a 4. 7% increase in penny slot revenue to $2. 7 billion and a 3. 7% increase in revenue from multi-religious slots to $2. 6 billion. The increase in slot revenue outweighed a 1. 6% decrease in table revenue, which fell to $3. 8 billion.

The decrease was primarily due to a 13. 4% decrease in baccarat revenue, which fell $166. 9 million to $1. 1 billion for the 12 months ending in March 2019. The impact of baccarat, a high-stakes card game favored by wealthy Asian gamblers, on the overall trend is due to its prominent share of gaming revenue. Baccarat accounts for 9. 1% of Nevada's total gaming revenue, almost the same as blackjack's 9. 8%. However, on a per-table basis, baccarat generates more than six times the revenue of blackjack. Baccarat revenue is also highly volatile, and a weak month can change the overall trend. For the 12 months ending in March 2019, excluding baccarat, gambling revenue growth nearly doubled to 3. 7%.

Nearly all of the state's baccarat tables are concentrated in Las Vegas cinemas, which bore the brunt of the decline in baccarat revenue. Table revenue along the Strip fell 2. 9% to $3. 2 billion, while slot machine revenue increased 3. 5% to $3. 3 billion, with total revenue for the two segments combined increasing just 0. 3%. In areas with little or no baccarat, gaming revenue trends were more positive. The Las Vegas local market saw a 5. 1% increase in gaming revenue to $2. 4 billion, while the downtown Las Vegas market saw a 4. 8% increase in total gaming revenue to $655 million.

In Washoe County, which does not have baccarat tables, total gaming revenue increased 2. 4% to $869 million for the 12 months ending in March 2019. The increase in Washoe County was entirely due to revenue growth, as gaming revenue was down 0. 3% year-over-year. Also, roughly half of the slot revenue came from multi-level slot machines. These machines accounted for $335. 5 million in slot revenue for the 12 months, up 10. 5% from the previous year.

Despite the recent slowdown in overall growth, Nevada gaming revenue maintained its 34th consecutive month of positive year-over-year growth in the 12-month total. Volatility in baccarat revenue mitigated some of the increase, but underlying trends suggest that solid growth in the broader gaming segment will help maintain the positive trajectory of this important revenue source.

Wages are a key indicator of the health of the economy, as they are a key component of consumer spending, a major driver of economic activity. For workers in Nevada and across the United States, wages have risen steadily as unemployment rates have fallen during the second-longest economic expansion in U. S. history. Nationally, wages in February 2019 rose 3. 1% over the past year, a healthy amount that compares favorably with Nevada’s 8. 2% wage increase.

The state’s rapid wage growth is most notable given the simultaneous increases in population (2. 1%) and employment (3. 5%), both of which Nevada leads the nation in. When population and labor force grow significantly, wage growth is generally expected to be modest due to the increased availability of workers. However, Nevada’s labor demand is strong enough to defy this rule as the expanding economy continues to absorb an influx of new workers and the unemployment rate falls. Nevada's wage growth rate in February 2019 was 8. 2%, second only to Wyoming among all states.

By region, the trends in the state wage are driven by extremely powerful growth in northern Nevada. By February 2019, the average weekly wage in the Rinotropia area has increased from $ 805 to $ 941 in the past year, an annual rate of 16. 8 %. This trend accelerated in late 2018, lasted until the first half of 2019, and five months out of the last six months reported a tw o-digit annual growth rate, reaching 20, 7 % in January 2019. During the same period, the annual wage rise rate in southern Nevada was 3, 4 %, and the annual rate exceeded 5, 0 % lasted three months.

In a state and the country, wages are often correlated with unemployment. Companies that use pools with few skilled workers to maintain their wages usually raise their wages. Nevada's recent rise in wages overlapped with a decline in unemployment, and in February 2019 it fell to the lowest in the last 12 years to 4. 1%. The unemployment rate in southern Nevada declines to 4, 2 %during the same period, the unemployment rate in northern Nevada declines to 3, 7 %, and it is 10 months to fall below 4 %in the past year. Such a decline in unemployment suggests that wages will continue to rise in the future.

The average wage of all individuals in the state has shown significant growth, but the degree of growth varies greatly from industry. The construction industry in Nevada has reported significant wages in the ongoing boom. With this growth, the construction industry is one of the highest wages in the Nevada economy, with an average weekly wage of workers, 50 % higher than the average of all industries. In comparison, in the leisure and customer service industry, which is the largest division in the Nevada economy and on e-quarter of employment, the average weekly wage in the past year is 4., but the average weekly witness is $ 519, the average is the average. 37. 6 % below. By region, the trends in the state wage are driven by extremely powerful growth in northern Nevada. By February 2019, the average weekly wage in the Rinotropia area has increased from $ 805 to $ 941 in the past year, an annual rate of 16. 8 %. This trend accelerated in late 2018, lasted until the first half of 2019, and five months out of the last six months reported a tw o-digit annual growth rate, reaching 20, 7 % in January 2019. During the same period, the annual wage rise rate in southern Nevada was 3, 4 %, and the annual rate exceeded 5, 0 % lasted three months.

Underlying the rising wages in Nevada is the diversification of the state economy. In the past year, Nevada's employment has increased by 3. 5 %. Employment levels have grown higher than the state average, in the manufacturing (12. 2 %), construction (11. 7 %), and specialty and business service (6. 6 %). Each of these industries is a wage level that exceeds the average, and the average wage of the state should continue to rise as the rate of the state economy increases. Since 2015, these three industries have increased from 21, 9 %to 25, 0 %.

In recent years, the economic expansion has been expanding, with the increase in employment and population in the top to the top of the US ranking, and there is almost no sign of its momentum. These macroeconomic trends have promoted the continuous growth and diversification of the Nevada economy, making profits to Nevada companies and residents. If this trend continues, Nevada workers will continue to benefit from a greater economic opportunity and wage rise.

Nevada's housing market ended in 2018 as one of the rapidly rising markets in the United States. According to the Federal Housing Finance Association's price index, the annual price increase rate in Nevada at the end of 2017 was 11. 5 %, third in the United States. Twelve months later, the state's housing price rise rate dropped slightly to 11. 2 %, but the ranking rose by one and ranked second. Although it is not a coincidence, the top three states of housing prices (Idaho, Nevada, and Utah) are the three states where the population has increased in 2018, telling the relationship between an increase in housing demand and the rise in housing prices. I am.

The growth rate of Nevada's housing price index was 11. 2 % in the FHFA market alone, 10 times the 1. 1 % of the USA average. The housing price index in southern Nevada increased by 13. 3 % per year, leading the tendency of the entire state, ranking third among the 100 metropolitan areas. If you use the same index, including the refinancing of the mortgage, the price increase by 17, 6 % in the Las Vegas area is the fastest in the United States, and the Renin area is 11, 8 % an annual growth rate of 7. Ranked to the rank. Underlying the rising wages in Nevada is the diversification of the state economy. In the past year, Nevada's employment has increased by 3. 5 %. Employment levels have grown higher than the state average, in the manufacturing (12. 2 %), construction (11. 7 %), and specialty and business service (6. 6 %). Each of these industries is a wage level that exceeds the average, and the average wage of the state should continue to rise as the rate of the state economy increases. Since 2015, these three industries have increased from 21, 9 %to 25, 0 %.

The growth rate of Nevada's housing price index was 11. 2 % in the FHFA market alone, 10 times the 1. 1 % of the USA average. The housing price index in southern Nevada increased by 13. 3 % per year, leading the tendency of the entire state, ranking third among the 100 metropolitan areas. If you use the same index, including the refinancing of the mortgage, the price increase by 17, 6 % in the Las Vegas area is the fastest in the United States, and the Renin area is 11, 8 % an annual growth rate of 7. Ranked to the rank. Underlying the rising wages in Nevada is the diversification of the state economy. In the past year, Nevada's employment has increased by 3. 5 %. Employment levels have grown higher than the state average, in the manufacturing (12. 2 %), construction (11. 7 %), and specialty and business service (6. 6 %). Each of these industries is a wage level that exceeds the average, and the average wage of the state should continue to rise as the rate of the state economy increases. Since 2015, these three industries have increased from 21, 9 %to 25, 0 %.

By the end of 2018, the median contract price of a used house in South Nevada was $ 260. 000, and the central price of a newly built house rose 7, 9 % in the same period, from about $ 380. 000. It rose $ 30. 000 to $ 410. 000. The central price of a newly built house reached $ 343. 900, which was the upper limit before the economic retreat, but the median of a used house was $ 30. 000 below $ 30. 000 in October 2006, which was a peak before the economy retreat. be.

Surge in housing prices may mean slowing demand in the used housing market. The number of contracts in South Nevada's resale segment in 2018 fell 2. 8 %, decreasing from 49. 200 to 47. 900. It decreased to 900 cases. It seems that potential housing buyers are discouraged by the rapid rise in prices, but no similar trends were seen in the new housing sector. The number of newly built houses has increased 13, 8 % in 2018, increasing from 8. 700 to 9. 900.

In the northern part of Nevada, the difference in housing prices between used and new housing was even more prominent. At the end of 2018, the median of a used house in Washo County rose by 1, 8 % to $ 330. 800, but the median new housing rose 14 and 3 % to $ 453. 800. Despite the significant rise in the median of the newly built housing price, the sales of newly built houses did not slow down, actually increased at a faster pace than the price, and the number of contracts was 1. 498 in 2017 to 1. 788 cases in 2018. And increased 19. 4 %. Although the price increase rate of used houses has slowed down, the number of closing cases in the Washo County decreased by 11, 3 %, to 7. 800.

The strong demand for new houses in southern Nevada was filled with significant increase in housing construction activities in 2018. On the other hand, in Washo County, the number of annual permissions decreased from 5, 200 to 4, 500. The overall decrease is due to a decrease of 29, 9 % of mult i-house permissions offset by an increase in the number of detached houses by 13, 5 %. By the end of 2018, the median contract price of secon d-handed houses in South Nevada was $ 260. 000, 238. 000 $ 2 of the previous year. It rose $ 30. 000 from $ 380. 000 to $ 410. 000. The central price of a newly built house reached $ 343. 900, which was the upper limit of the economic retreat, but the median of a used house was less than $ 30. 000 below $ 30. 000 in October 2006, peaking before the economy. be.

Surge in housing prices may mean slowing demand in the used housing market. The number of contracts in South Nevada's resale segment in 2018 fell 2. 8 %, decreasing from 49. 200 to 47. 900. It decreased to 900 cases. It seems that potential housing buyers are discouraged by rapid price rise, but no similar trends were seen in the new housing sector. The number of newly built houses has increased 13, 8 % in 2018, increasing from 8. 700 to 9. 900.

The strong demand for new houses in southern Nevada was filled with significant increase in housing construction activities in 2018. On the other hand, in Washo County, the number of annual permissions decreased from 5, 200 to 4, 500. The overall decrease is due to a decrease of 29, 9 % of mult i-house permissions offset by an increase in the number of detached houses by 13, 5 %. By the end of 2018, the median contract price of a used house in South Nevada was $ 260. 000, and the central price of a newly built house rose 7, 9 % in the same period, from about $ 380. 000. It rose $ 30. 000 to $ 410. 000. The central price of a newly built house reached $ 343. 900, which was the upper limit before the economic retreat, but the median of a used house was $ 30. 000 below $ 30. 000 in October 2006, which was a peak before the economy retreat. be.

In the state as a whole, the trend of the rapid increase in population and employment has been leading the housing market as housing demand has been steadily. In Nevada, the employment increase rate in January 2019 was 4, 0 % yea r-o n-year, and there were thousands of new residents every month, so this trend is almost slow. I can't. If this trend continues until 2019, the Nevada housing market will benefit from deman d-led type this year.

Nevada's leisure hospitality industry is the most important industry in the state, hiring almost one in four of the states and paying more than 20 % of all wages. Considering the importance of the industry for the state economy, the soundness and the future of leisure and customer service plays an important role for the whole economy.

The number of visitors to South Nevada in 2018 fell slightly for the second consecutive year, decreasing by 0. 2%in 2017 to 42. 1 million in 2018. The Las Vegas Tourism Bureau pointed out that the Las Vegas Convention has decreased by 2. 2 % from 6. 6 million in 2017 to 6. 5 million in 2018. In 2018, several traditional performances, including CONEXPO-Con/Agg Tradeshow in March, were rotated by Las Vegas, one of the declines of convention participants. These decreases were reflected in the city's operating ratio, dropping 0. 5 points from 88. 7 % in 2017 to 88. 2 % in 2018. The impact of the decline in the occupancy rate was replaced by the rise in the average daily guest rooms for hotels in the Las Vegas area, rising 1. 4%from 2017 to $ 128. 74 in 2018. The average daily accommodation fee in 2018 was the second highest in the 21st century, the highest since 2007. The average daily guest room price has led to an increase in sales (REVPAR) per room that can be used in the Las Vegas area in 2018. In the past year, REVPAR rose from $ 112. 51 in 2017 to $ 113. 52 in 2018, increasing 0. 9%. In the state as a whole, a trend for several years, the rapid increase between population and employment, has led the housing market as housing demand has been steadily. In Nevada, the employment increase rate in January 2019 was 4, 0 % yea r-o n-year, and there were thousands of new residents every month, so this trend is almost slow. I can't. If this trend continues until 2019, the Nevada housing market will benefit from deman d-led type this year.

The number of visitors to South Nevada in 2018 fell slightly for the second consecutive year, decreasing by 0. 2%in 2017 to 42. 1 million in 2018. The Las Vegas Tourism Bureau pointed out that the Las Vegas Convention has decreased by 2. 2 % from 6. 6 million in 2017 to 6. 5 million in 2018. In 2018, several traditional performances, including CONEXPO-Con/Agg Tradeshow in March, were rotated by Las Vegas, one of the declines of convention participants. These decreases were reflected in the city's operating ratio, dropping 0. 5 points from 88. 7 % in 2017 to 88. 2 % in 2018. The impact of the decline in the occupancy rate was replaced by the rise in the average daily guest rooms for hotels in the Las Vegas area, rising 1. 4%from 2017 to $ 128. 74 in 2018. The average daily accommodation fee in 2018 was the second highest in the 21st century, the highest since 2007. The average daily guest room price has led to an increase in sales (REVPAR) per room that can be used in the Las Vegas area in 2018. In the past year, REVPAR rose from $ 112. 51 in 2017 to $ 113. 52 in 2018, increasing 0. 9%. In the state as a whole, the trend of the rapid increase in population and employment has been leading the housing market as housing demand has been steadily. In Nevada, the employment increase rate in January 2019 was 4, 0 % yea r-o n-year, and there were thousands of new residents every month, so this trend is almost slow. I can't. If this trend continues until 2019, the Nevada housing market will benefit from deman d-led type this year.

Although the number of visitors did not grow, some major improvements were made in the 2018 South Nevada Tourism Industry. McCaran International Airport renewed the records of passengers again and recorded 2. 5 % a year to 49. 7 million. The total gaming income of Las Vegas and Downtown Las Vegas, the two major sightseeing spots in South Nevada, continued to grow in 2018, increasing gaming income in both regions for the third consecutive year. From 2017 to 2018, Las Vegas Strip gambling income increased by $ 6. 5 billion in 2017 to $ 6. 6 billion in 2018. Strip gaming income has reached $ 6. 9 billion since 2007. Gaming revenue in Las Vegas downtown has increased for the fifth consecutive year in 2018, increasing by 3. 0 % to $ 650 million in 2018 to $ 650 million in 2018. Las Vegas's downtown gaming has reached $ 650 million since 2005, when downtown casinos increased the $ 65. 5 billion gaming.

A new project, planned and under construction throughout Nevada, suggests a optimistic view of the state's tourism. Such projects include Resort World Las Vegas, Drew, Las Vegas Stadium, MSG Stadium, Caesters Forum Convention Center. Resort World Las Vegas plans to add 3, 400 hotels in the strip district, and the Caesters Forum plans to add a 550, 00 0-squar e-foot convention center space. In addition to new construction projects, some renovation and expansion projects are underway in existing facilities, and is expected to respond to an increase in demand. In the southern part of Nevada, the Las Vegas Convention Center has been expanded and renovated, and Palms, Hard Rock Hotels, Stratosphere, and SLS are renovated.

These projects are scheduled to be completed within the next two years and will be positioned for future growth and expansion in southern Nevada. The number of visitors did not grow, but some major improvements were made in the 2018 South Nevada Tourism Industry. McCaran International Airport renewed the records of passengers again and recorded 2. 5 % a year to 49. 7 million. The total gaming income of Las Vegas and Downtown Las Vegas, the two major sightseeing spots in South Nevada, continued to grow in 2018, increasing gaming income in both regions for the third consecutive year. From 2017 to 2018, Las Vegas Strip gambling income increased by $ 6. 5 billion in 2017 to $ 6. 6 billion in 2018. Strip gaming income has reached $ 6. 9 billion since 2007. Gaming revenue in Las Vegas downtown has increased for the fifth consecutive year in 2018, increasing by 3. 0 % to $ 650 million in 2018 to $ 650 million in 2018. Las Vegas's downtown gaming has reached $ 650 million since 2005, when downtown casinos increased the $ 65. 5 billion gaming.

These projects are scheduled to be completed within the next two years and will be positioned for future growth and expansion in southern Nevada. Although the number of visitors did not grow, some major improvements were made in the 2018 South Nevada Tourism Industry. McCaran International Airport renewed the records of passengers again and recorded 2. 5 % a year to 49. 7 million. The total gaming income of Las Vegas and Downtown Las Vegas, the two major sightseeing spots in South Nevada, continued to grow in 2018, increasing gaming income in both regions for the third consecutive year. From 2017 to 2018, Las Vegas Strip gambling income increased by $ 6. 5 billion in 2017 to $ 6. 6 billion in 2018. Strip gaming income has reached $ 6. 9 billion since 2007. Gaming revenue in Las Vegas downtown has increased for the fifth consecutive year in 2018, increasing by 3. 0 % to $ 650 million in 2018 to $ 650 million in 2018. Las Vegas's downtown gaming has reached $ 650 million since 2005, when downtown casinos increased the $ 65. 5 billion gaming.

These projects are scheduled to be completed within the next two years and will be positioned for future growth and expansion in southern Nevada.

Nevada’s trailing twelve-month retail sales total hit $60 billion for the first time in state history in October 2018. This milestone was the culmination of nine years of consistent growth since 2009, when Nevada’s taxable retail sales hit its lowest point during the recession, dropping to $38. 4 billion. From 2009 to 2017 (the last calendar year for taxable retail sales data), Nevada’s taxable retail sales increased $19. 3 billion, from $38. 4 billion to $57. 7 billion (a 50. 2% increase), a compound annual growth rate (CAGR) of 5. 2%.

This growth was primarily driven by Clark and Washoe counties, which account for approximately 73% and 14% of state taxable retail sales, respectively. From 2009 to 2017, Clark County's taxable retail sales increased $13 billion to $41. 5 billion (45. 5% increase), for a compound annual growth rate of 4. 8%. Washoe County's taxable retail sales increased $3 billion (56. 3%) from 2009 to 2017, for a compound annual growth rate of 5. 7%.

The recovery in taxable retail sales is due to the state's population and economic growth over the past decade. Since 2009, Nevada's population has increased by 350, 000 (13. 0%), surpassing 3 million for the first time in 2018. This increase in population base translates into increased taxable retail sales in categories such as food services and alcohol consumption places (20. 6% of Nevada October 2018 taxable retail sales) and automobile and parts dealerships (11. 2% of Nevada October 2018 taxable retail sales). These two categories are notable because they represent the largest percentage of taxable retail sales, nearly one-third of all taxable retail sales in Nevada.

Between 2009 and 2017, the state's unemployment rate fell by 6. 3 percentage points, dropping from 11. 3% in 2009 to 5. 0% in 2017 (further dropping to 4. 2% in October 2018). During the same period, the average weekly wage increased from $700 to $768 (reaching $802 in October 2018), suggesting that overall spending trends are increasing as the state's workforce expands and people are not only more successful in finding jobs but also earning more.

In Clark County, most of the increase in tax retail sales is due to an increase in sales to restaurants and bars, centered on restaurants and bars tracked as part of leisure hospitality and super sector. I'm doing it. From 2009 to 2017, the annual tax and retail sales by restaurants and bars increased from $ 6. 1 billion to $ 10. 7 billion, an increase of $ 4. 6 billion, accounting for 35. 5 % of the overall retail sales increase. The restaurant and restaurants account for about 24 % of Clark County's tax retail sales, which play an important role in the trends in retail expenditures.

As with other areas in the state, the increase in retail sales in Clark County is due to improvement of economic situation. Clar k-gun's population has increased from 1. 9 million in 2009 to 2. 3 million in 2018, which means that local customer base has expanded. The average weekly wage of private business employees in Clark County fell to $ 660 in 2011, and rose $ 780 in 2009 in 2009. As of October 2018, the average weekly wage is $ 802 due to the continued wage growth. Therefore, the unemployment rate dropped from 11. 5 % in 2018 to 4. 4 % in October 2018, and the rise in wages and the expansion of employment bases were retailed until 2019 in both South Nevada and the whole state. It suggests that the spending positive trend continues.

The Nevada Economy is still one of the most fas t-growing states in the United States, which is more than the state of the state of the state. Nevada has been trying to create a positive for eight consecutive years, which has become an important driving force for economic recovery and expansion during this time. Due to this extension, the number of states in September 2018 exceeded 1. 4 million for the first time, and due to the trend of employment creation, Nevada is the rapid economic growth area in the United States. It is considered to be accurate for the time being. In Clark County, most of the increase in tax or retail sales is a restaurant and bars, mainly restaurants and bars tracked as part of the leisure hospitality and super sector. It is due to the increase. From 2009 to 2017, the annual tax and retail sales by restaurants and bars increased from $ 6. 1 billion to $ 10. 7 billion, an increase of $ 4. 6 billion, accounting for 35. 5 % of the overall retail sales increase. The restaurant and restaurants account for about 24 % of Clark County's tax retail sales, which play an important role in the trends in retail expenditures.

The Nevada Economy is still one of the most fas t-growing states in the United States, which is more than the state of the state of the state. Nevada has been trying to create a positive for eight consecutive years, which has become an important driving force for economic recovery and expansion during this time. Due to this extension, the number of states in September 2018 exceeded 1. 4 million for the first time, and due to the trend of employment creation, Nevada is the rapid economic growth area in the United States. It is considered to be accurate for the time being. In Clark County, most of the increase in tax retail sales is due to an increase in sales to restaurants and bars, centered on restaurants and bars tracked as part of leisure hospitality and super sector. I'm doing it. From 2009 to 2017, the annual tax and retail sales by restaurants and bars increased from $ 6. 1 billion to $ 10. 7 billion, an increase of $ 4. 6 billion, accounting for 35. 5 % of the overall retail sales increase. The restaurant and restaurants account for about 24 % of Clark County's tax retail sales, which play an important role in the trends in retail expenditures.

In the latest US labor data, Nevada's employment increased by 46. 900 from October 2017 to October 2018, and the total employment was raised to a record high of 1. 41 million. This figure was equivalent to an employment growth rate of 3. 4 % in annual rate, doubling the number 1. 7 % in the United States, the first place in the whole clan. Nevada's employment growth rate in October 2018 has increased its ranking to the top five states for 29 consecutive months. Meanwhile, Nevada has ranked 1st and 11th in the employment rate. With this consistent trend, the employment of 128. 000 people has increased in the past three years, to the top 10. 0 % growth rate.

The remarkable increase in employment throughout Nevada has contributed to the tendency of the whole state, with employment in southern Nevada exceeding 1 million earlier this year, and employment in northern Nevada is approaching 250, 000. The Las Vegas metropolitan area increased 33. 900 employment from October 2017 to October 2018, which was equivalent to a growth rate of 3. 4 % yea r-o n-year, ranking fifth in the 30 major metropolitan areas. The Reno Metropolitan Area increased 10. 700 employment during the same period, with a growth rate of 4. 5 %.

With the increase in employment, the unemployment rate of Nevada as a whole declined. The state's unemployment rate dropped from 13. 9%in January 2011, peaking for 10 years to 4. 2%in October 2018, down 9. 7%. Similarly, the unemployment rate in the Las Vegas area declined to 4, 4 % in October 2018, improved 9, 6 % from January 2011, and the unemployment rate in the RENO area decreased to 3 or 3 %. 13, 9 % improved from 10 and 6 %.

Nevada's employment has expanded in the past year, and five major industries have increased at least 6, 000 employment. The specialty and business service category was the top 10. 200 new employment, followed by 9. 600 and the construction industry was 7. 000. The growth rate of the manufacturing industry was the highest of 14. 0 %, followed by 11. 2 % of the construction industry. In particular, in the construction industry, in the past five years, the latest US labor data has increased 46. 900 people from October 2017 to October 2018, and the total employment is a record high of 1. 41. Pushed up to one million. This figure was equivalent to an employment growth rate of 3. 4 % in annual rate, doubling the number 1. 7 % in the United States, the first place in the whole clan. Nevada's employment growth rate in October 2018 has increased its ranking to the top five states for 29 consecutive months. Meanwhile, Nevada has ranked 1st and 11th in the employment rate. With this consistent trend, the employment of 128. 000 people has increased in the past three years, to the top 10. 0 % growth rate.

With the increase in employment, the unemployment rate of Nevada as a whole declined. The state's unemployment rate dropped from 13. 9%in January 2011, peaking for 10 years to 4. 2%in October 2018, down 9. 7%. Similarly, the unemployment rate in the Las Vegas area decreased to 4, 4 % in October 2018, improved 9, 6 % points from January 2011, and the RENO regional unemployment rate decreased to 3 or 3 %. 13, 9 % improved from 10 and 6 %.

Nevada's employment has expanded in the past year, and five major industries have increased at least 6, 000 employment. The specialty and business service category was the top 10. 200 new employment, followed by 9. 600 and the construction industry was 7. 000. The growth rate of the manufacturing industry was the highest of 14. 0 %, followed by 11. 2 % of the construction industry. In particular, in the construction industry, in the past five years, the latest U. S. labor data has increased by 46. 900 people between October 2017 and October 2018, and the total employment is a record high of 1. 41 million. I pushed it up. This figure was equivalent to an employment growth rate of 3. 4 % in annual rate, doubling the number 1. 7 % in the United States, the first place in the whole clan. Nevada's employment growth rate in October 2018 has increased its ranking to the top five states for 29 consecutive months. Meanwhile, Nevada has ranked 1st and 11th in the employment rate. With this consistent trend, the employment of 128. 000 people has increased in the past three years, and the growth rate of 10. 0 % has reached the largest in the United States.

The remarkable increase in employment throughout Nevada has contributed to the tendency of the whole state, with employment in southern Nevada exceeding 1 million earlier this year, and employment in northern Nevada is approaching 250, 000. The Las Vegas metropolitan area increased 33. 900 employment from October 2017 to October 2018, which was equivalent to a growth rate of 3. 4 % yea r-o n-year, ranking fifth in 30 major metropolitan areas. The Reno Metropolitan Area increased 10. 700 employment during the same period, with a growth rate of 4. 5 %.

The growth of the construction sector coincided with rapid population growth across the state. Nevada had the second-highest annual population growth rate for both of the past two years, topping 3 million for the first time in 2017. The influx of new residents has increased demand for housing, and builders have responded with new construction activity. Nevada's home building permits increased 24. 3% over the past 12 months, with builders adding 18, 000 homes over the year. Most of this activity is in Southern Nevada, where new home building permits increased 16. 8% over the past 12 months, from 9, 262 to 10, 816.

Across the state, there is more than $25 billion in major new investment and ongoing construction projects underway. In Southern Nevada, ongoing projects include the $7 billion World Las Vegas and the $1. 8 billion Las Vegas Convention Center expansion and renovation. In Northern Nevada, the $5. 4 billion Tesla Gigafactory, the $4 billion Switch Citadel, and the $2. 6 billion Apple Data Center expansion projects are underway.

These projects, along with over $9 billion in other planned investments, signal continued expansion not just in manufacturing but in Nevada’s economy as a whole. As the economy continues to expand, so will jobs in the state.

Governor Brian Sandoval took office during one of the most challenging economic times in Nevada’s modern history. The Great Recession may have ended in June 2009, but its effects are still felt in the Silver State years later. By the time Sandoval took office on January 3, 2011, the Great Recession had wiped out nearly 200, 000 jobs, destroyed 6, 400 businesses, and pushed the unemployment rate to 13. 9%, the highest in the nation. Eight years later, as Sandoval prepares to leave office, Nevada is again among the nation's leaders in job growth, population growth, business investment and other key indicators of a strong economic foundation. While there are many reasons for the economic recovery, Sandoval's policies and administration played a key role in Nevada's economic recovery.

One of the main policies that Sandbal has raised when he became governor of the State is the economic diversification of the whole state. Nevada was relied on tourism and construction, so it was susceptible to the unstable economy of the country and the world. By diversifying, a wider and stable economy will be born, and you will be able to withstand the recession. For this reason, Governor Sandabal has established the Nevada Governor's Economic Development Bureau (GOED) in collaboration between the Governor and the Nevada Congress.

GOED has provided new tools and strategies to focus on economic development efforts throughout the state and promote the state economic diversification. GOED supports companies relocating to Nevada and expanding business, supporting various labor training programs in cooperation with educational and business communities, and providing funds for new research and commercialization initiatives. We supported this goal by expanding the opportunity in the global market through the shipment of products around the world.

Gede's efforts brought large and small companies to the silver state, but the most visible in his achievements is the rapid growth of Hut-Tech Hub in northern Nevada. In September 2014, the Taho Leno Industrial Center was selected as the first factory construction site in Tesla Gigafactory, the world's largest battery factory in Panasonic. The factory has invested more than $ 3. 7 billion, with more than 3, 200 employees working. Other famous hig h-tech companies, such as Apple, Google, and Switches, have entered the area, pushing out not only the diversification of the economy but also the number of excellent employment.

Another of Sandabal's achievements is focusing on the state's education system. Sand Bal's reform agenda has added programs and funds to improve school performance with Nevada as a whole. The 2015 Educational Reform Package, which is a resource of $ 1. 5 billion in Biena, has been passed with a wide range of diplomatic support, a new student, a student who is in poverty, and a student in a talented education program. There was also a bill to establish funds. It also provided funds to fully control the kindergarten at all schools, create a reading program with three programs, and to expand the qualifications of Millennium scholarships. One of the main policies that Sandbal has set up when he has become governor of the State is the economic diversification of the entire state. Nevada was relied on tourism and construction, so it was susceptible to the unstable economy of the country and the world. By diversifying, a wider and stable economy will be born, and you will be able to withstand the recession. For this reason, Governor Sandabal has established the Nevada Governor's Economic Development Bureau (GOED) in collaboration between the Governor and the Nevada Congress.

Another of Sandabal's achievements is focusing on the state's education system. Sand Bal's reform agenda has added programs and funds to improve school performance with Nevada as a whole. The 2015 Educational Reform Package, which is a resource of $ 1. 5 billion in Biena, has been passed with a wide range of diplomatic support, a new student, a student who is in poverty, and a student in a talented education program. There was also a bill to establish funds. It also provided funds to fully control the kindergarten at all schools, create a reading program with three programs, and to expand the qualifications of Millennium scholarships. One of the main policies that Sandbal has raised when he became governor of the State is the economic diversification of the whole state. Nevada was relied on tourism and construction, so it was susceptible to the unstable economy of the country and the world. By diversifying, a wider and stable economy will be born, and you will be able to withstand the recession. For this reason, Governor Sandabal has established the Nevada Governor's Economic Development Bureau (GOED) in collaboration between the Governor and the Nevada Congress.

Another of Sandabal's achievements is focusing on the state's education system. Sandabal reform agenda has added programs and funds to improve school performance with Nevada as a whole. The 2015 Educational Reform Package, which is a resource of $ 1. 5 billion in Biena, has been passed with a wide range of diplomatic support, a new student, a student who is in poverty, and a student in a talented education program. There was also a bill to establish funds. It also provided funds to fully control the kindergarten at all schools, create a reading program with three programs, and to expand the qualifications of Millennium scholarships.

Sandoval continued his push for education during the 2017 legislative session, with legislative accomplishments including increasing funding for the Opportunity Scholarship Program as a compromise to create education savings accounts, creating the Nevada Promise Scholarship to cover community college tuition costs that exceed state and federal aid, and providing operating and capital funding for the University of Nevada Las Vegas School of Medicine. Many of these investments in education are expected to have a lasting impact across Nevada even after Sandoval's administration ends.

After two terms as governor, Sandoval remains one of the most popular CEOs in America. His political leadership and management style undoubtedly contributed to this position. So did his financial performance. In pure economic terms, under Sandoval's leadership, statewide employment increased by 295, 200 people (26. 7%), from about 1 million to about 1. 4 million. Average weekly wages increased by 23. 0%, from $661 to $813. Finally, Nevada's unemployment rate is back at pre-recession levels, dropping 9. 5 percentage points to 4. 4%. In almost every economic indicator, Nevada is in better shape than it was when President Sandoval took office, leaving a lasting legacy and indelible fingerprint on the Silver State.

Nevada's strong job growth and population growth trends continue to drive the upward trajectory of the state's economy. These factors are especially impacting the state's housing market, which remains in a long period of high demand and price growth. Home prices are up 13% year over year, making Southern Nevada home to the hottest market in the nation, according to the latest S& P CoreLogic Case-Shiller Index. Seattle and San Francisco follow Southern Nevada with price increases of 12%, 8%, 10% and 7%, respectively.

The increase in home prices and sales was evident in both the existing and new home markets, with limited available inventory of existing homes averaging less than two months over the past year, supporting growth in the new home sector. The latest trends in new home sales and home prices reflect strong buyer interest in new homes and willingness to pay premiums for new homes. According to Salestraq, there were 9, 833 new home sales in Southern Nevada in the 12 months ending in August 2018, up 15. 8% from 8, 490 sales a year ago. The 9, 833 sales represents the highest 12-month total since November 2008 and reflects a significant recovery from the lowest 12-month total of 3, 781 sales in the 12 months ending in January 2012. New home prices continued to rise, reaching an all-time high in August 2018. According to Salestraq, the closing price of a home above $400, 000 was 14. 9% higher than the $348, 000 recorded the previous year.

Demand for new homes and the willingness to pay higher prices led to the development of new building activity. In the 12 months ending in June 2018, Clark County reported 10, 124 new home sales permits, up 13. 6% from the previous year when 8, 989 were issued. This represents the 26th consecutive month of double-digit growth in new home sales permits on a 12-month basis. And Southern Nevada's growth expansion was more than double the national year-over-year growth rate of 5. 0%.

The Northern Nevada housing market is following a similar trend. In the 12 months ending in July 2018, Washoe County reported 1, 683 new home sales, up 12. 6% from the previous year. This marks Washoe County's fifth consecutive month of positive year-over-year growth after 10 consecutive months of declining closings through the end of 2017. The average new closing rate was $3, 538 a year over year. .

The growth of the overall construction activities in the growth economy, not only in housing construction, ignited a remarkable expansion of state construction labor. In August 2018, the number of construction employees increased 10. 9 % yea r-o n-year to 93. 600, which was the fastest growing industry in Nevada. Construction business employment has been stable growth for the 73rd consecutive months since 2012. Demand for construction workers has affected construction wages and has increased for 14 consecutive months compared to the previous year. The average weekly wage of Nevada Construction Workers in August 2018 was $ 1. 140, up 11. 5 % yea r-o n-year, 40. 6 % higher than the average average weekly wage.

The strength of the state economy proven by growing employment, population, and wages increases in housing demand generated by the inflow of new residents who have moved to Nevada, and continues to have the current trend of housing sales, prices, and housing construction. Suggests that.

The economic recovery in the North Nevada is an important factor in recovery and growth of the entire state after the recession. The area continues to show remarkable growth in many important economic indicators, and often exceeds other states.

Employment in the Rinotropia area increased by 3. 7 % (no seasonal adjustment) in July 2018 (no seasonal adjustment), which was second in the United States. Reno's employment increased in a significantly lower unemployment rate than the state and the national average. The unemployment rate in the Renin Metropolitan Area was 3, 5 %, while the United States was 4, 1 % in the United States, 4, 5 % in Nevada, and 4, 7 % in Nevada. It was the manufacturing industry that led the increase in Reno, increasing 2, 700 employment in the past year, with 15, 2 %.

The tight labor market in the northern part of Nevada has contributed to the rise in wages faster than other regions in the state. In July, the average weekly wage of Reno rose 5. 4 % yea r-o n-year, exceeding 3. 1 % of the states and 2. 6 % in southern Nevada. The average weekly wage of Reno was $ 844, exceeding Nevada ($ 799) and the southern part of Nevada ($ 814). The growth of the overall construction activities in the growth economy, as well as housing construction, has ignited a remarkable expansion of state construction labor. In August 2018, the number of construction employees increased 10. 9 % yea r-o n-year to 93. 600, which was the fastest growing industry in Nevada. Construction business employment has been stable growth for the 73rd consecutive months since 2012. Demand for construction workers has affected construction wages and has increased for 14 consecutive months compared to the previous year. The average weekly wage of Nevada Construction Workers in August 2018 was $ 1. 140, up 11. 5 % yea r-o n-year, 40. 6 % higher than the average average weekly wage.

The tight labor market in the northern part of Nevada has contributed to the rise in wages faster than other regions in the state. In July, the average weekly wage of Reno rose 5. 4 % yea r-o n-year, exceeding 3. 1 % of the states and 2. 6 % in southern Nevada. The average weekly wage of Reno was $ 844, exceeding Nevada ($ 799) and the southern part of Nevada ($ 814). The growth of the overall construction activities in the growth economy, not only in housing construction, ignited a remarkable expansion of state construction labor. In August 2018, the number of construction employees increased 10. 9 % yea r-o n-year to 93. 600, which was the fastest growing industry in Nevada. Construction business employment has been stable growth for the 73rd consecutive months since 2012. Demand for construction workers has affected construction wages and has increased for 14 consecutive months compared to the previous year. The average weekly wage of Nevada Construction Workers in August 2018 was $ 1. 140, up 11. 5 % yea r-o n-year, 40. 6 % higher than the average average weekly wage.

Taxable retail sales growth in Northern Nevada also outpaced the state average over the past year. For the 12 months ending in June 2018, Nevada taxable sales increased 4. 2% over the previous year. In comparison, Washoe County taxable sales increased 6. 8% and Carson City's 8. 5% increase was more than double the state's rate. In Storey County, which is part of the Reno Metropolitan Statistical Area, taxable sales declined 20. 8% over the past year, but this is the result of strong growth, which saw sales increase from $240. 8 million to $1. 6 billion in mid-2017, rather than an economic slowdown.

Storey County's growth trend is tied to the rapid expansion of the Tahoe-Reno Industrial Center, which has attracted billions of dollars in investment from major companies such as FedEx, Google, Switch, Tesla, and Walmart. While the June 2018 taxable sales total was down from the previous year, the current taxable sales total of $1. 3 billion remains more than five times what it was two years ago. As a result of this growth, Storry County's taxable sales per capita outperform that of the state as a whole. While Nevada's taxable sales per capita for the past 12 months was about $19, 700, Storry County's taxable sales per capita was $318, 400, more than 16 times the state average.

The growth trajectory of the Northern Nevada economy also includes the housing market. According to the Federal Home Price Index, Las Vegas and the Las Vegas-Reno metropolitan area ranked in the top five for home price growth. Reno's annual growth rate of 13. 8% ranked fifth, while Las Vegas' growth rate of 16. 6% outpaced all U. S. metropolitan areas.

The tourism industry in northern Nevada also showed a remarkable growth last year, but was in contrast to recent trends in southern Nevada. In July 2018, the number of tourists in the 12 months of Washo County increased by 2, 0 %, but the same indicators decreased by 2, 0 % in the Las Vegas area. The number of passengers at Lino Taho International Airport has been positive in July, exceeding 400. 000 per month since 2008, and increased by 7, 0 % on a 1 2-month basis. The growing rate of the yea r-o n-year gaming of the Wash o-gun was also a bright topic, and the last year's 6. 6. The growth rate of gaming income reached this level for the second consecutive month in 2000.

The economic growth in the northern Nevada stimulates a widespread tendency of the whole state and helps to support it, and continuous and future investments make profits not only in the region but also throughout Nevada. It suggests that it will continue to be the center of economic activities and innovation.

Nevada continues to have the highest employment growth rate in the United States. The Silver State recorded the third fastest employment growth rate in June 2018, increasing the employment of 45. 100 from the same month of the previous year, with a growth rate of 2. 9 %. For the past five years, the state has consistently entered the top 10 states every month. As a result, the 4. 5%unemployment unemployment rate in June was close to the level before the economic retreat, slightly higher than 4. 2%of the United States.

The unemployment rate in the United States is historically low, close to a state of full employment. Economicists also call this the unemployment no n-accelerated inflation rate (Nairu). Complete employment (Nairu) does not mean that the unemployment rate is zero, but indicates the relationship between employment and inflation. Nairu's current estimated value is about 4, 7 %, much higher than the current unemployment rate. It is important that Nairu is not a static value, but to respond to changes in demographics, technology, relative prices, and other no n-financial and no n-financial policies. The tourism industry in northern Nevada also showed a remarkable growth last year, but in contrast to recent trends in southern Nevada. In July 2018, the number of tourists in the 12 months of Washo County increased by 2, 0 %, but the same indicators decreased by 2, 0 % in the Las Vegas area. The number of passengers at Lino Taho International Airport has been positive in July, exceeding 400. 000 per month since 2008, and increased by 7, 0 % on a 1 2-month basis. The growing rate of the yea r-o n-year gaming of the Wash o-gun was also a bright topic, and the last year's 6. 6. The growth rate of gaming income reached this level for the second consecutive month in 2000.

The unemployment rate in the United States is historically low, close to a state of full employment. Economicists also call this the unemployment no n-accelerated inflation rate (Nairu). Complete employment (Nairu) does not mean that the unemployment rate is zero, but indicates the relationship between employment and inflation. Nairu's current estimated value is about 4, 7 %, much higher than the current unemployment rate. It is important that Nairu is not a static value, but to respond to changes in demographics, technology, relative prices, and other no n-financial and no n-financial policies. The tourism industry in northern Nevada also showed a remarkable growth last year, but was in contrast to recent trends in southern Nevada. In July 2018, the number of tourists in the 12 months of Washo County increased by 2, 0 %, but the same indicators decreased by 2, 0 % in the Las Vegas area. The number of passengers at Lino Taho International Airport has been positive in July, exceeding 400. 000 per month since 2008, and increased by 7, 0 % on a 1 2-month basis. The growing rate of the yea r-o n-year gaming of the Wash o-gun was also a bright topic, and the last year's 6. 6. The growth rate of gaming income reached this level for the second consecutive month in 2000.

If the unemployment rate is low, companies must pay high wages to acquire workers in the labor market. As a result, the cost of the company will increase, and companies will pass on this cost to consumers in the form of rising prices. According to employment statistics, Nevada's average weekly wages rose 3. 9 % in June last year, but the consumer price index in the western part rose 3. 2 % in the same period. The purchase power of the average weekly wage after inflation was increased by 0. 9 %. It is expected that inflation and wage increase rates will rise because the unemployment rate is less than Nairu or lower than that.

Inflation is also related to monetary policy. The double mission of the Federal Reserve (Fed) is to promote prices stability and complete employment. To achieve these goals, the current monetary policy aims to maintain an inflation rate of 2 % per year. The Fed has gradually raised Federal Fund interest rates in December 2016 to respond to the rise in inflation rates, and has increased to the current 2 % level. The average 3 0-year mortgage interest rate rose from 3. 4%in 2016 to more than 4. 5%in 2018 in response to the raising of Federal Funds. With the rise in borrowing costs alone, the ratio of housing purchase costs, which account for wage rates during the same period, increased by about 15 %. This increase in interest payments leads to a decrease in spending on other products and services, suppressing the economic overheating, and approaching inflation rates. All of the current signals, including statements of the US Federal Reserve Council (Fed), suggest 3-4 rates in both 2018 and 2019, but the Fed has always grasped the economic situation. There is a possibility of correction of trajectory.

There are other factors that slow down the US economy. Large economic turmoil, such as the 2008 housing crisis and the 2001 Dot com bubble, could reduce total demand. Other countries have fallen into a serious economic recession, and the European Union (EU) and Middle East geopolitical risks may increase significantly. Continued changes in US trade policies and subsequent reactions may reduce the demand for export and services in the United States, and the economy may cool down. The recently implemented tax reduction and fiscal policy due to the federal deficit increase in budget deficits and the increase in federal debt, inflation accelerating more than the Fed's goal, increasing interest rates, and reducing consumer borrowing capabilities. There is sex. If the unemployment rate is low, companies must pay high wages to acquire workers in the labor market. As a result, the cost of the company will increase, and companies will pass on this cost to consumers in the form of rising prices. According to employment statistics, Nevada's average weekly wages rose 3. 9 % in June last year, but the consumer price index in the western part rose 3. 2 % in the same period. The purchase power of the average weekly wage after inflation was increased by 0. 9 %. It is expected that inflation and wage increase rates will rise because the unemployment rate is less than Nairu or lower than that.

There are other factors that slow down the US economy. Large economic turmoil, such as the 2008 housing crisis and the 2001 Dot com bubble, could reduce total demand. Other countries have fallen into a serious economic recession, and the European Union (EU) and Middle East geopolitical risks may increase significantly. Continued changes in US trade policies and subsequent reactions may reduce the demand for export and services in the United States, and the economy may cool down. The recently implemented tax reduction and fiscal policy due to the federal deficit increase in budget deficits and the increase in federal debt, inflation accelerating more than the Fed's goal, increasing interest rates, and reducing consumer borrowing capabilities. There is sex. If the unemployment rate is low, companies must pay high wages to acquire workers in the labor market. As a result, the cost of the company will increase, and companies will pass on this cost to consumers in the form of rising prices. According to employment statistics, Nevada's average weekly wages rose 3. 9 % in June last year, but the consumer price index in the western part rose 3. 2 % in the same period. The purchase power of the average weekly wage after inflation was increased by 0. 9 %. It is expected that inflation and wage increase rates will rise because the unemployment rate is less than Nairu or lower than that.

The shor t-term outlook on the US economy is steady, but it has always evolved in terms of new events and changes. It is necessary to pay close attention to changes in the global economy and recent domestic financial and financial policies, as they may affect the national and state economy over the next few months.

According to AAA, in Nevada, the price has risen in the last few months after the gasoline price has fallen below $ 3, and the average price of lea d-free gasoline exceeds $ 3 in March, July 2018. As of the 16th, it rose to $ 3 /22 per gallon. At the same time, the national average was only $ 2 and 88, the price in Nevada was 12. 0 % higher than the national average, and the price of Nevada one year ago was 22. 5 % higher. The average of Nevada has a major difference between the state. In the Las Vegas district, gasoline prices were $ 3. 4 % higher than the national average, whereas in the Rinin area, 18. 8 % higher than the national average.

Increase in gasoline prices has little effect on gasoline consumption, so rising prices in a fuelis station usually reduce expenditures on other consumer goods and services. According to the US Labor Statistics Bureau's consumer spending survey, the average household spent $ 1. 934 on gasoline and other automobile fuel for 12 months until June 2017. According to the US Energy Information Bureau (EIA), the average 1 2-month gasoline price on the west coast is 14, 4 % higher than last year, an annual gasoline addition of $ 278, an additional gasoline in Nevada 293 million. Equivalent to dollars. The shor t-term outlook on the US economy is steady, but it has always evolved in changes in new events and situations. It is necessary to pay close attention to changes in the global economy and recent domestic financial and financial policies, as they may affect the national and state economy over the next few months.

Increase in gasoline prices has little effect on gasoline consumption, so rising prices in a fuelis station usually reduce expenditures on other consumer goods and services. According to the US Labor Statistics Bureau's consumer spending survey, the average household spent $ 1. 934 on gasoline and other automobile fuel for 12 months until June 2017. According to the US Energy Information Bureau (EIA), the average 1 2-month gasoline price on the west coast is 14, 4 % higher than last year, an annual gasoline addition of $ 278, an additional gasoline in Nevada 293 million. Equivalent to dollars. The shor t-term outlook on the US economy is steady, but it has always evolved in terms of new events and changes. It is necessary to pay close attention to changes in the global economy and recent domestic financial and financial policies, as they may affect the national and state economy over the next few months.

According to AAA, in Nevada, the price has risen in recent months after the gasoline price has fallen below $ 3, and the average price of lea d-free gasoline exceeds $ 3 in March, July 2018. As of the 16th, it rose to $ 3 /22 per gallon. At the same time, the national average was only $ 2 and 88, the price in Nevada was 12. 0 % higher than the national average, and the price of Nevada one year ago was 22. 5 % higher. The average of Nevada has a major difference between the state. In the Las Vegas district, gasoline prices were $ 3. 4 % higher than the national average, whereas in the Rinin area, 18. 8 % higher than the national average.

Garon, a gasoline, sold in Nevada, increased by 3, 4 % in April 2018 compared to the same month of the previous year, and for the first time it recorded $ 3, 00 in a month. In the past 12 months, sales have increased slowly and increased by 2, 8 % from the total of 12 months. This was much slower than the ta x-oriented retail sales increase in April 2018, 8. 6 % yea r-o n-year, and 4. 7 % in 12 months. In WASHOE County, the total amount of gasoline sold in the 12 months until April increased by 3, 1 %, but increased by 6, 9 %in the overall retail sales at the same time. Clark County has greatly exceeded other areas of the state with these two indicators. Gasoline prices have fallen below the state average and retail sales increased by 3. 6 %, but gasoline sales have increased by 2. 2 % in the last 12 months.

The rise in gasoline prices could affect the tourism industry, especially in the southern Nevada state, when 54 % of the 42. 2 million visitors of 42. 2 million visitors in 2017 arrived on terrestrial transportation. It seems that the rise in summer gasoline prices does not affect the number of visitors in April and May (the latest available data), and the number of visitors has increased yea r-o n-year after 10 months. It showed a slight increase in the previous year. In addition, the amount of automobile traffic on the stat e-o f-state expressway 15 on the border between Nevada and California was 5. 7 % yea r-o n-year in May, which was much higher than the 1 2-month average of 0. 6 %. Las Vegas's sightseeing is generally the most crowded summer, and despite the rise in gasoline prices, this growth is a bright sign for the peak season. Garon, sold in Nevada, increased by 3, 4 % in April 2018 compared to the same month of the previous year, recorded $ 3, 00 in a month for the first time. In the past 12 months, sales have increased slowly and increased by 2, 8 % from the total of 12 months. This was much slower than the ta x-oriented retail sales increase in April 2018, 8. 6 % yea r-o n-year, and 4. 7 % in 12 months. In WASHOE County, the total amount of gasoline sold in the 12 months until April increased by 3, 1 %, but increased by 6, 9 %in the overall retail sales at the same time. Clark County has greatly exceeded other areas of the state with these two indicators. Gasoline prices have fallen below the state average and retail sales increased by 3. 6 %, but gasoline sales have increased by 2. 2 % in the last 12 months.

The rise in gasoline prices could affect the tourism industry, especially in the southern Nevada state, when 54 % of the 42. 2 million visitors of 42. 2 million visitors in 2017 arrived on terrestrial transportation. It seems that the rise in summer gasoline prices does not affect the number of visitors in April and May (the latest available data), and the number of visitors has increased yea r-o n-year after 10 months. It showed a slight increase in the previous year. In addition, the amount of automobile traffic on the stat e-o f-state expressway 15 on the border between Nevada and California was 5. 7 % yea r-o n-year in May, which was much higher than the 1 2-month average of 0. 6 %. Las Vegas's sightseeing is generally the most crowded summer, and despite the rise in gasoline prices, this growth is a bright sign for the peak season. Garon, a gasoline, sold in Nevada, increased by 3, 4 % in April 2018 compared to the same month of the previous year, and for the first time it recorded $ 3, 00 in a month. In the past 12 months, sales have increased slowly and increased by 2, 8 % from the total of 12 months. This was much slower than the growing tax retail sales, which increased 8. 6 % yea r-o n-year in April 2018 and 4. 7 % in 12 months. In WASHOE County, the total amount of gasoline sold in the 12 months until April increased by 3, 1 %, but increased by 6, 9 %in the overall retail sales at the same time. Clark County has greatly exceeded other areas of the state with these two indicators. Gasoline prices have fallen below the state average and retail sales increased by 3. 6 %, but gasoline sales have increased by 2. 2 % in the last 12 months.

The gas price has been flat in recent weeks, and the EIA prediction is expected to have passed the 2018 peak. The Nevada State Natural Gas Price of 3 and $ 22 on July 16, 2018 indicates a slight decrease of $ 3, $ 32 per gallon one month ago, 2, 9 %. Despite the continuous rise in WTI oil prices, it rose from $ 65 to $ 68 per barrel at the same time. Natural gas prices are far below the historical peak of 2008. The maximum average price recorded in Nevada was $ 4, 27 on June 20, 2008, 32, 6 % higher than the current average price. On the same day, WTI crude oil reached nearly $ 135 per barrel, exceeding the current level of 98. 5 %. In recent years, recorded crude oil production in Japan has helped to maintain crude oil prices, and prices should fall slightly after the summer peak. However, unless the crude oil price falls significantly, the gasoline price is expected to exceed the 2017 level.

Nevada is one of the most rapidly growing states in the United States, and this trend is mainly driven by the migration of new residents from the United States. Approximately thre e-quarters of the flowing new inhabitants have moved to the southern part of Nevada, and the growth rate in 2017 was the second fastest in the 30th metropolitan area. The reason why the southern part of Nevada is attractive is that it has led the rapid growth of the region for the past 50 years, that is, the expansion of employment, economic opportunities, a tax system that is advantageous to both individuals and companies, and relatively low living expenses. That is still the case.

The latter factor is particularly important compared to California, which accounts for on e-third of all residents who live in the silver state. The ease of living in Southern Nevada is the COUNCIL FOR COMMUNITY AND ECONOMIC Research (Local Economic Research Council), and the Cost of Living Index, which is an index that compares the ease of living in urban areas in the United States. I am. The comprehensive index is composed of individual indicators that compare basic costs such as food expenses, housing expenses, transportation expenses, and medical expenses with the national average. In 2017, the living expenses index in the Las Vegas area was 102 and 5, 2 or 5 % higher than the national average of 100. The living expenses in southern Nevada are traditionally higher than the national average, but they are quite affordable compared to Southern California.

The Los Angeles County Living Expenses Index, the main source of new residents in Nevada, was 148, 0. When converted to purchasing power, the $ one in Los Angeles is equivalent to $ 44 cents in southern Nevada. Other counties in Southern California, which accept many immigrants, have relatively high living expenses, such as Orange County (152, 6) and San Diego County (146, 1). The data of Riverside County and Sun Burner Dino County was not available.

By category, the largest difference between South Nevada and California is the house. The living expenses index in South Nevada is 109. 7, about 10 % higher than the national average. In Southern California, the ratio of housing living was more than doubled, from 237. 8 in San Diego County to 256. 9 in Orange County. Although the living expenses index in South Nevada rose 1, 3 % in 2017, although housing expenses in the area have risen, it is far more affordable than Southern California, relocating to Southern Nevada. There is a high possibility that it will continue to be an important factor.

In addition, transportation expenses, utilities, and food items have a small but remarkable living expenses. The living expenses index in South Nevada in 2017 was 107, 3, 15 to 25 index lower than the county of Southern California. The utility bill index in South Nevada is 86, 7, 16 to 20 index lower than the three Callings of California. During the same period, the food cost index in South Nevada was down 2. 5 % to 102. 3. During the same period, each county in South California reported an increase in living expenses, and Los Angeles County reported the highest increase of 4, 0 %. The Los Angeles County Living Expenses Index, the main source of new residents in Nevada, was 148, 0. When converted to purchasing power, the $ one in Los Angeles is equivalent to $ 44 cents in southern Nevada. Other counties in Southern California, which accept many immigrants, have relatively high living expenses, such as Orange County (152, 6) and San Diego County (146, 1). The data of Riverside County and Sun Burner Dino County was not available.

In addition, transportation expenses, utilities, and food items have a small but remarkable living expenses. The living expenses index in South Nevada in 2017 was 107, 3, 15 to 25 index lower than the county of Southern California. The utility bill index in South Nevada is 86, 7, 16 to 20 index lower than the three Callings of California. During the same period, the food cost index in South Nevada was down 2. 5 % to 102. 3. During the same period, each county in South California reported an increase in living expenses, and Los Angeles County reported the highest increase of 4, 0 %. The Los Angeles County Living Expenses Index, the main source of new residents in Nevada, was 148, 0. When converted to purchasing power, the $ one in Los Angeles is equivalent to $ 44 cents in southern Nevada. Other counties in Southern California, which accept many immigrants, have relatively high living expenses, such as Orange County (152, 6) and San Diego County (146, 1). The data of Riverside County and Sun Barner Dino County was not available.

In addition, transportation expenses, utilities, and groceries have a small but remarkable living expenses. The living expenses index in South Nevada in 2017 was 107, 3, 15 to 25 index lower than the county of Southern California. The utility bill index in South Nevada is 86, 7, 16 to 20 index lower than the three Callings of California. During the same period, the food cost index in South Nevada was down 2. 5 % to 102. 3. During the same period, each county in South California reported an increase in living expenses, and Los Angeles County reported the highest increase of 4, 0 %.

The high cost of living in Southern California is somewhat mitigated by the higher wages of its workers. In the fourth quarter of 2017, the average weekly wage in the three Southern California counties ranged from $1. 221 to $1. 343, while the average worker in Southern Nevada earned $938. However, after adjusting wages for their respective cost of living indexes, the average weekly wage in Southern Nevada equates to $1. 337 to $1. 396 among the three Southern California counties, significantly narrowing the wage gap in terms of true purchasing power.

The relatively low cost of living in Southern Nevada compared to Southern California has long been an important relocation factor between the Golden and Silver States. This trend continues today and is likely to continue. It motivates tens of thousands of Southern Californians to travel up Interstate 15 each year and call Nevada home.

Despite many states across the U. S. legalizing gambling in recent years and the prospect of sports betting following a recent U. S. Supreme Court decision, Nevada continues to dominate the industry. Gaming companies in Nevada report roughly the same gaming revenue as the next four largest state markets (Pennsylvania, New Jersey, Louisiana, and Illinois). Nevada accounts for roughly 30% of legal gaming revenue in the U. S., and the industry continues to grow.

Nevada's gaming industry grew exponentially in 2018, recording three consecutive months of gross revenue exceeding $1 billion. This is the first time since 2008 that gross gaming revenue has topped the $1 billion mark in consecutive years, ending a streak of five consecutive billion-dollar streaks in April of that year. Despite a decline in the number of slot machines and table games nationwide of 2, 1, and 3, 4 percent, respectively, total revenues for the first quarter were 2, 9 percent higher than the first quarter of 2017. Gaming revenues for the past 12 months totaled $11. 7 billion, up 2, 3 percent from the $11. 4 billion reported in the previous 12 months.

Clar k-gun, the largest gaming income in Nevada, is slightly slower than any other area in the state. The gaming income in the past 12 months has increased by 1, 9 %, reaching a total of $ 10 billion. As with other areas in the state, growth accelerated in 2018, but the growth rate of Clark County was a few %, which was slightly less than the growth rate of the whole state. Specifically, the slot machine income in Clark County has slowed the overall growth rate. Slot machines in the past 12 months have increased by 3, 3 % in Nevada, up 2, 8 % in Clark County. The growth of slot machines in the first quarter slowed to 0. 8 % in Clark County, yea r-o n-year, and 1. 8 % throughout the state.

Board games, especially Baccarat, led the growth in early 2018. Clark County's board game revenue increased by 0. 5 % in the past 12 months, but in the first quarter of the previous year's synchronization rate was 4. 6 %, $ 48 million. Baccarat has grown significantly this year, and the first quarter of the game revenue increased by 30 %, increasing by about $ 94 million. The income from other table games in Clark County fell 6. 4 % in the first quarter. Despite the recent boom, Baccarat income in Clark County has increased by 0. 1%in the last 12 months.

Wash u-gun has reported a powerful growth of various types of games. In the first quarter of 2018, the slot machine revenue of Washo County increased by 5 to 8 % yea r-o n-year, accelerating the growth rate of 12 months, increasing by 4 or 2 % as slot machines have slowed nationwide. did. Tables and gaming income grew the largest in Washo County, increasing 6, 6 percent in the first quarter, and 4 or 3 % in the last 12 months. These figures have contributed to the increase in total gaming in Washoe county in the past 12 months, up 4, 2%from $ 840, 400 Million and $ 806, 200 Million during the 12 months. The first quarter of 2018 Gaming income was $ 196. 1 million, an increase of 5 or 9 % since the first quarter of last year. Clar k-gun, the largest gaming income source in Nevada, is slightly slower than other regions in the state. The gaming income in the past 12 months has increased by 1, 9 %, reaching a total of $ 10 billion. As with other areas in the state, growth accelerated in 2018, but the growth rate of Clark County was a few %, which was slightly less than the growth rate of the whole state. Specifically, the slot machine income in Clark County has slowed the overall growth rate. Slot machines in the past 12 months have increased by 3, 3 % in Nevada, up 2, 8 % in Clark County. The growth of slot machines in the first quarter slowed to 0. 8 % in Clark County, yea r-o n-year, and 1. 8 % throughout the state.

Wash u-gun has reported a powerful growth of various types of games. In the first quarter of 2018, the slot machine revenue of Washo County increased by 5 to 8 % yea r-o n-year, accelerating the growth rate of 12 months, increasing by 4 or 2 % as slot machines have slowed nationwide. did. Tables and gaming income grew the largest in Washo County, increasing 6, 6 percent in the first quarter, and 4 or 3 % in the last 12 months. These figures have contributed to the increase in total gaming in Washoe county in the past 12 months, up 4, 2%from $ 840, 400 Million and $ 806, 200 Million during the 12 months. Gaming income in the first quarter of 2018 was $ 196. 1 million, up 5 or 9 % since the first quarter of last year. Clar k-gun, the largest gaming income in Nevada, is slightly slower than any other area in the state. The gaming income in the past 12 months has increased by 1, 9 %, reaching a total of $ 10 billion. As with other areas in the state, growth accelerated in 2018, but the growth rate of Clark County was a few %, which was slightly less than the growth rate of the whole state. Specifically, the slot machine income in Clark County has slowed the overall growth rate. Slot machines in the past 12 months have increased by 3, 3 % in Nevada, up 2, 8 % in Clark County. The growth of slot machines in the first quarter slowed to 0. 8 % in Clark County, yea r-o n-year, and 1. 8 % throughout the state.

If the gaming facilities in the state continue their achievements in 2018, the total gaming in Nevada will exceed $ 12 billion, and Clark County may exceed $ 10 billion, all since 2007. It will be a feat of. Clark County had achieved this feat in 2017, but did not reach $ 9. 98 billion. In the Washo County, if the trend of the year continues, the gaming income may be raised to $ 900 million in 2008.

As gambling legalization throughout the United States has progressed, gaming companies in Nevada, especially Nevada, have begun to provide various amenities other than gaming to tourists. Although the dependence on gaming income in the state's gaming operators has declined, gaming income still accounts for more than 40 % of the total income, so the profits of gaming companies and the economic effects of Nevada's sightseeing industry. It plays an important role.

In recent years, Nevada has been in the spotlight as one of the most dynamic economies in the United States. Many people have made future plans and expect further growth in the future due to this lon g-term steady growth. Many private and public investments in the whole state say the beginning of the era of growth that takes advantage of the existing strengths of Nevada to increase the level of economic diversity in the state and improve the lon g-term stability of the state economy. It is set like.

In southern Nevada, several resorts are under planned or constructed, and if completed, large resorts will be added to the strip district for the first time since 2009. Resort World Las Vegas, Win Paradise Park, and The Drew (formerly Fontaine Blow) will add 9, 000 hotels in the strip district. In addition, many hotels, including Monte Carlo (planned to be renamed Park MGM), Palms, Palace Station, Stratosphere, Cosmopolitan, SLS, and Flamingo, are being renovated or renovated. If the gaming facilities in the state continue their business in 2018, the total income in Nevada will exceed $ 12 billion, and Clark County may exceed $ 10 billion, all. It has been a feat since 2007. Clark County had achieved this feat in 2017, but did not reach $ 9. 98 billion. In the Washo County, if the trend of the year continues, the gaming income may be raised to $ 900 million in 2008.

In southern Nevada, several resorts are under planned or constructed, and if completed, large resorts will be added to the strip district for the first time since 2009. Resort World Las Vegas, Win Paradise Park, and The Drew (formerly Fontaine Blow) will add 9, 000 hotel rooms in the strip district. In addition, many hotels, including Monte Carlo (planned to be renamed Park MGM), Palms, Palace Station, Stratosphere, Cosmopolitan, SLS, and Flamingo, are being renovated or renovated. If the gaming facilities in the state continue their achievements in 2018, the total gaming in Nevada will exceed $ 12 billion, and Clark County may exceed $ 10 billion, all since 2007. It will be a feat of. Clark County had achieved this feat in 2017, but did not reach $ 9. 98 billion. In the Washo County, if the trend of the year continues, the gaming income may be raised to $ 900 million in 2008.

In southern Nevada, several resorts are under planned or under construction, and if completed, large resorts will be added to the strip district for the first time since 2009. Resort World Las Vegas, Win Paradise Park, and The Drew (formerly Fontaine Blow) will add 9, 000 hotel rooms in the strip district. In addition, many hotels, including Monte Carlo (planned to be renamed Park MGM), Palms, Palace Station, Stratosphere, Cosmopolitan, SLS, and Flamingo, are being renovated or renovated.

NFL project stadium to host Raiders, UNLV football and many other sports and entertainment events; MSG Sphere by Madison Square Garden Company and Las Vegas Sands, a groundbreaking venue offering a unique entertainment experience; and Edge extreme sports park catering to thrill-seeking guests. Additionally, planned and ongoing investments in meeting space at ARIA, MGM Grand and Las Vegas Convention Center will add 3 million square feet of meeting and convention space and build on record executive participation in 2017 to enhance Southern Nevada's competitiveness.

While most of the most notable and active investments are focused in the state's largest industry, there is also a lot of investment outside of tourism, which indicates the current and future diversification of the state's economy. Tesla's Gigafactory in Northern Nevada continues to move forward toward full-scale construction and operation. Tesla intends to run the factory on 100% renewable energy, and the facility will be equipped with the world's largest solar panel array. Giant Switch Data Centers, which is investing $4 billion in data center facilities in Nevada, is partnering with others to significantly expand solar power in Nevada. In February 2018, Switch announced a partnership with Dynamics Capital to launch Gigawatt 1, the nation's largest solar power project, capable of powering one million homes. Nevada already leads the nation in solar energy production per capita, and increased investment in renewable resources will help diversify the economy and build a more sustainable future.

Across the state, infrastructure investments continue to meet the demands of a growing population. The Nevada Department of Transportation is constructing approximately $1. 5 billion in major road projects, including the $900 million Neon Project, the Interstate 11 Boulder City Bypass, numerous improvements to Interstate 15 near Las Vegas, and improvements to I-95 and I-93. Another $1. 8 billion in highway improvements are planned across the state over the next decade. These projects will not only provide a short-term economic boost during the construction phase, but will also support future growth and economic activity.

Investment in education is increasing. The Nevada University Rino School and the Nevada University Las Vegas are currently planning or building new facilities and renovations of $ 530 million or more, and the University of Southern Nevada will invest $ 80 million on three campuses next year. We plan to build a hall. The Clark County School District will complete a new school building equivalent to $ 247 million by FY2017, and will have more than $ 95 million in FY2018 with a $ 95 million dollar. The Washo County School District has a similar school facility expansion plan and plans to establish 15 new schools between 2018 and 2025.

More than $ 31. 8 billion in the state, including $ 12. 8 billion in Reno and $ 19 billion in Las Vegas, is under 31. 8 billion dollars. Larg e-scale projects are not new in Nevada, but today's investment diversity is unprecedented. Tourism, the main industry in the state, is still the focus of investment and growth. However, education, infrastructure, technology, renewable energy, and investment in other industries indicate the continuous diversification of the state economy.

Nevada's employment opportunities, business environments, and other advantages are attracting thousands of new inhabitants from all over the United States, especially in the western part, so the population growth rate in Nevada is approaching the top of the United States. The inflow of such residents has spread throughout the economy, from the increase in employment to the increase in personal consumption. The population has also influenced the state's housing market, and in 2017 it ended with an increase in housing prices, increasing sales, and activating construction activities.

According to the Federal Housing Finance Federation's fourth quarter of the fourth quarter of 2017 (HPI), Nevada's housing price rose 11, 6 % in one year, gaining the third largest in all states. It was a major growth for one year that supported Nevada's strong performance. Las Vegas reported 12, 6 % on the HPI and ranked fourth in 100 major metropolitan areas in the United States. Reno's price rose 11, 8 %, ranking 17th out of 403 metropolitan areas, ranked in the housing price index. Investment in education is increasing. The Nevada University Rino School and the Nevada University Las Vegas are currently planning or building new facilities and renovations of $ 530 million or more, and the University of Southern Nevada will invest $ 80 million on three campuses next year. We plan to build a hall. The Clark County School District will complete a new school building equivalent to $ 247 million by FY2017, and will have more than $ 95 million in FY2018 with a $ 95 million dollar. The Washo County School District has a similar school facility expansion plan and plans to establish 15 new schools between 2018 and 2025.

According to the Federal Housing Finance Federation's fourth quarter of the fourth quarter of 2017 (HPI), Nevada's housing price rose 11, 6 % in one year, gaining the third largest in all states. It was a major growth for one year that supported Nevada's strong performance. Las Vegas reported 12, 6 % on the HPI and ranked fourth in 100 major metropolitan areas in the United States. Reno's price rose 11, 8 %, ranking 17th out of 403 metropolitan areas, ranked in the housing price index. Investment in education is increasing. The Nevada University Rino School and the Nevada University Las Vegas are currently planning or building new facilities and renovations of $ 530 million or more, and the University of Southern Nevada will invest $ 80 million on three campuses next year. We plan to build a hall. The Clark County School District will complete a new school building equivalent to $ 247 million by FY2017, and will have more than $ 95 million in FY2018 with a $ 95 million dollar. The Washo County School District has a similar school facility expansion plan and plans to establish 15 new schools between 2018 and 2025.

Nevada's employment opportunities, business environments, and other advantages are attracting thousands of new inhabitants from all over the United States, especially in the western part, so the population growth rate in Nevada is approaching the top of the United States. The inflow of such residents has spread throughout the economy, from the increase in employment to the increase in personal consumption. The population has also influenced the state's housing market, and in 2017 it ended with the rise in housing prices, increased sales, and the activity of construction activities.

According to the Federal Housing Finance Federation's fourth quarter of 2017, the housing price in Nevada rose 11, 6 % in one year, gaining the third largest in all states. It was a major growth for one year that supported Nevada's strong performance. Las Vegas reported 12, 6 % on the HPI and ranked fourth in 100 major metropolitan areas in the United States. Reno's price rose 11, 8 %, ranking 17th out of 403 metropolitan areas, ranked in the housing price index.

In Southern Nevada, the average selling price of an existing home reached $238, 000, the highest since January 2008, but still below its June 2006 high of $290, 000. In contrast, new home prices have surpassed previous peak levels, reaching about $380, 000 in December 2017, well above its pre-recession high of $344, 000. Existing homes in the Las Vegas area have risen faster than new homes over the past year, increasing 17. 8% compared to the new home market's 11. 7% increase. Due in part to a tight supply of existing homes, new home sales increased 8, 739 units year over year to 49, 232 units, more than double the 4. 9% increase in existing home sales year over year. In Washoe County, the average monthly closing price for new homes rose to over $400, 000 during 2017, reaching a high of $430, 000 in July, before dropping slightly to $399, 000 at the end of the year. December prices were down 2. 6% from the same month last year. Washoe County's second-hand home market came close to breaking a record, with an average price of $350, 000 in July only to reach the $370, 000 mark. Second-hand home prices also fell to the same amount in the second half of the year, settling at $345, 000 in December. Unlike the new home market, the slight drop from the July peak was a 16. The second-hand home market also boomed, much more than the new homes. In 2017, Washoe County saw 7, 182 existing home sales, up 3. 7% from the previous year, while new home sales were down 16. 0% from the previous year, at 1, 394.

With the recovery of the state economy and the population increase, housing demand has increased significantly in recent years. Nevada has been ranked in five states, which has the highest growth rate for the fourth consecutive year, and has been paying attention. In 2017, the Washo County gave permission to build more than 4. 500 houses, exceeding the total number in 2016 by 26 and 7 %. According to Clark County data, more than 13. 900 new construction was allowed, up 2. 4 % yea r-o n-year. This is a 28, 0%increase in the number of housing permit in Clark County in 2016. As the population continues to increase and the total number of employments has set a new record, housing demand continues to be strong, and the price of lamp builders is expected to continue to rise.

According to Corelogic, the rise in housing prices decreased to 8 % of Nevada's housing owners in the fourth quarter of 2017. This ratio is the fourth largest in the United States, but has improved significantly from 72, 7 % in early 2010. Clark County's seizure declined significantly in 2017, down 55. 3 % in one year, 1. 669, and has been improving from the peak in 2009, 34. 000. In most indicators, Nevada's housing market has finished in 2017 with recent momentum, and has maintained a solid step in 2018.

The leisure and customer service business is the most important industry in Nevada, hiring more than one in four of the entire states, creating 20 % of all employee wages. Given the role of the industry in the state, its orbit and trends play an important role in the health of the whole economy. In the Nevada Tourism Industry, 2017 ended in 2017, as the basic fundamentals showed immediate stability and continuous investment suggests future growth. With the recovery of the state economy and the population increase, housing demand has increased significantly in recent years. Nevada has been ranked in five states, which has the highest growth rate for the fourth consecutive year, and has been paying attention. In 2017, the Washo County gave permission to build more than 4. 500 houses, exceeding the total number in 2016 by 26 and 7 %. According to Clark County data, more than 13. 900 new construction was allowed, up 2. 4 % yea r-o n-year. This is a 28, 0%increase in the number of housing permit in Clark County in 2016. As the population continues to increase and the total number of employments has set a new record, housing demand continues to be strong, and the price of lamp builders is expected to continue to rise.

According to Corelogic, the rise in housing prices decreased to 8 % of Nevada's housing owners in the fourth quarter of 2017. This ratio is the fourth largest in the United States, but has improved significantly from 72, 7 % in early 2010. Clark County's seizure declined significantly in 2017, down 55. 3 % in one year, 1. 669, and has been improving from the peak in 2009, 34. 000. In most indicators, Nevada's housing market has been in recent years, ending in 2017, and has maintained a solid step in 2018.

The Las Vegas area, which has set a record of visitors a year for the third consecutive year, recorded 42. 2 million in 2017, down 1. 7 % a year. The Las Vegas Tourism Bureau states that this slight decrease is due to several factors. The closure of several small hotels has reduced the number of rooms in stock by about 400 from the level in 2016, and temporarily reduced the number of rooms that can be rented in some hotels in southern Nevada. In addition, the tragedy on October 1 contributed to a decline in the occupancy rate in the last quarter of 2017, resulting in a slight decline in the occupancy rate of guest rooms at 88. 6 %.

In contrast to these decreases, other indicators reported a year well. The average daily guest room fee is $ 129, $ 41, up 2 or 7 % from 2016, ending in 2017. The rise in guest rooms has led to an increase in revenue per available room, improving 2, 0 % to $ 114 and 59.

Although the overall number of visitors decreased, the visitor division of the tournament has become a record year. The number of conventions in 2017 was 5 and 3 % to 6 million 6 million, continuing to increase for seven years. The growth of the convention market is an important factor in the tourism industry in the South Nevada, and if multiple projects are completed to increase the number of local available conference spaces and improve the quality of existing spaces, the impact will be even greater. I will. Such the biggest project is the $ 1. 4 billion expansion and renovation of the Las Vegas Convention Center, and MGM Resorts International, Caesters Entertainment, and Win Resorts are also increasing conference spaces. The sum of these projects will increase the number of available spaces by 1. 3 million square feet, equivalent to the fifth largest convention center in the United States. Las Vegas has been selected as a top domestic trading show venue for 23 consecutive years by Trade Show News Network, and these new projects have solidified their positions in the market, and more in the next few years. You will be able to attract meetings and conferences. The Las Vegas area, which has set a record of visitors for the third consecutive year, has recorded 1. 7 % a year to 42. 2 million in 2017. The Las Vegas Tourism Bureau states that this slight decrease is due to several factors. The closure of several small hotels has reduced the number of rooms in stock by about 400 from the level in 2016, and temporarily reduced the number of rooms that can be rented in some hotels in southern Nevada. In addition, the tragedy on October 1 contributed to a decline in the occupancy rate in the last quarter of 2017, resulting in a slight decline in the occupancy rate of guest rooms at 88. 6 %.

Although the overall number of visitors decreased, the visitor division of the tournament has become a record year. The number of conventions in 2017 was 5 and 3 % to 6 million 6 million, continuing to increase for seven years. The growth of the convention market is an important factor in the tourism industry in the South Nevada, and if multiple projects are completed to increase the number of local available conference spaces and improve the quality of existing spaces, the impact will be even greater. I will. Such the biggest project is the $ 1. 4 billion expansion and renovation of the Las Vegas Convention Center, and MGM Resorts International, Caesters Entertainment, and Win Resorts are also increasing conference spaces. The sum of these projects will increase the number of available spaces by 1. 3 million square feet, equivalent to the fifth largest convention center in the United States. Las Vegas has been selected as a top domestic trading show venue for 23 consecutive years by Trade Show News Network, and these new projects have solidified their positions in the market, and more in the next few years. You will be able to attract meetings and conferences. The Las Vegas area, which has set a record of visitors a year for the third consecutive year, recorded 42. 2 million in 2017, down 1. 7 % a year. The Las Vegas Tourism Bureau states that this slight decrease is due to several factors. The closure of several small hotels has reduced the number of rooms in stock by about 400 from the level in 2016, and temporarily reduced the number of rooms that can be rented in some hotels in southern Nevada. In addition, the tragedy on October 1 contributed to a decline in the occupancy rate in the last quarter of 2017, resulting in a slight decline in the occupancy rate of guest rooms at 88. 6 %.

Nearly half of the tourists visiting Las Vegas arrived via McCaran International Airport, and in 2017, the annual record was 48. 5 million passengers. The total was 2. 3 % higher than the 2016 figures, exceeding the previous record recorded in 2007 by about 800. 000. Clark County's total gaming income increased by 2. 7 % in 2017, approaching $ 10 billion annually. In 2007, the total gaming income exceeded $ 10 billion annually.

In the North Nevada, the tourism industry was generally positive, and the total number of visitors increased by 5, 2 % to 51 million. The number of passengers at Lino Taho International Airport has also increased significantly, and the total number of passengers by November has increased by 9, 9%compared to 2016. Other plus indicators in the Washo County include the latest 1 2-month (available latest values) of the hotel/ motel occupancy rate up to October, and the total income of 2017 in 2017 was compared to the previous year. Includes 2, 4 % increase.

In 2018, the Las Vegas tourism industry has shown continuous growth and investment. Rasbegas Strip's new resort projects such as Resort World Las Vegas, Win Paradise Park, and the recently announced The Drew at the Fontaine Blowl are about 9. 000 new hotel rooms in 2020. It is planned to be added, which is the largest increase in the year since the architectural boom in the early 1990s. The construction of sports and entertainment facilities, including Las Vegas Stadium and Madison Square Garden's global performance space, which has paid 1. 8 billion dollars, has expanded the continuous expansion of tourist amenities in South Nevada. If the US and the world's economic fundamentals remain in a bright direction, the Nevada Tourism Industry and the whole economy will realize its benefits. Nearly half of the tourists visiting Las Vegas arrived via McCaran International Airport, and in 2017, the annual record was updated with 48. 5 million passengers. The total was 2. 3 % higher than the 2016 figures, exceeding the previous record recorded in 2007 by about 800. 000. Clark County's total gaming income increased by 2. 7 % in 2017, approaching $ 10 billion annually. In 2007, the total gaming income exceeded $ 10 billion annually.

In 2018, the Las Vegas tourism industry has shown continuous growth and investment. Rasbegas Strip's new resort projects such as Resort World Las Vegas, Win Paradise Park, and the recently announced The Drew at the Fontaine Blowl are about 9. 000 new hotel rooms in 2020. It is planned to be added, which is the largest increase in the year since the architectural boom in the early 1990s. The construction of sports and entertainment facilities, including Las Vegas Stadium and Madison Square Garden's global performance space, which has paid 1. 8 billion dollars, has expanded the continuous expansion of tourist amenities in South Nevada. If the US and the world's economic fundamentals remain in a bright direction, the Nevada Tourism Industry and the whole economy will realize its benefits. Nearly half of the tourists visiting Las Vegas arrived via McCaran International Airport, and in 2017, the annual record was 48. 5 million passengers. The total was 2. 3 % higher than the 2016 figures, exceeding the previous record recorded in 2007 by about 800. 000. Clark County's total gaming income increased by 2. 7 % in 2017, approaching $ 10 billion annually. In 2007, the total gaming income exceeded $ 10 billion annually.

The nationwide consumer trust index has made significant improvements during 2017 and has risen to a high level since 2000. The US retail sales increase by 3, 2 % in 2016, up 4 or 2 % this year, and people consumption is growing. In the last few years, Nevada has easily exceeded the USA average in retail sales, and its growth has accelerated in 2017, and the total taxable retail sales at the end of 12 months until October 2017. It tends to increase by 6 or 6 %. In 2016, Nevada's taxable retail sales increased 5 or 1 % yea r-o n-year. If these 6 and 6 % growth lasted for the last two months in 2017, the growth rate of taxable retail sales in the entire state has reached 7 and 1 % since 2011. December is traditionally the most important month for retail sales, and in 2017, 2017 has reported that the consumption of the 2017 holiday season was about $ 600 billion. The numbers all year round are likely to maintain this growth level.

In the whole state, the growth of retail sales varies greatly depending on the county. For example, for 12 months until October 2017, the retail sales in Clark County increased 3. 8 % yea r-o n-year, and the Wash o-gun increased 6. 0 %, all of which were down 6. 6 %. The most recently increased in Stay County, which has been a larg e-scale development at the Taho Leno Industrial Center. The retail sales of Stay County rose 215 % in 2016, increasing 242 % in 12 months until October 2017. Due to this rapid growth, the third largest story in Nevada, which has the smallest population, ranked 3rd in 2017, in 2015, in 2015, 13th in Nevada. In the past 12 months, Wash o-gun costs about $ 18. 00 per person and Klark County costs $ 19. 00, while Story County costs more than $ 420. 000 per person. nationwide consumer trust index has made significant improvements in 2017 and has risen to a high level since 2000. The US retail sales increase by 3, 2 % in 2016, up 4 or 2 % this year, and people consumption is growing. In the last few years, Nevada has easily exceeded the USA average in retail sales, and its growth has accelerated in 2017, and the total taxable retail sales at the end of 12 months until October 2017. It tends to increase by 6 or 6 %. In 2016, Nevada's taxable retail sales increased 5 or 1 % yea r-o n-year. If these 6 and 6 % growth lasted for the last two months in 2017, the growth rate of taxable retail sales in the entire state has reached 7 and 1 % since 2011. December is traditionally the most important month for retail sales, and in 2017, 2017 has reported that the consumption of the 2017 holiday season was about $ 600 billion. The numbers all year round are likely to maintain this growth level.

In the whole state, the growth of retail sales varies greatly depending on the county. For example, for 12 months until October 2017, the retail sales in Clark County increased 3. 8 % yea r-o n-year, and the Wash o-gun increased 6. 0 %, all of which were down 6. 6 %. The most recently increased in Stay County, which has been a larg e-scale development at the Taho Leno Industrial Center. The retail sales of Stay County rose 215 % in 2016, increasing 242 % in 12 months until October 2017. Due to this rapid growth, the third largest story in Nevada, which has the smallest population, ranked 3rd in 2017, in 2015, in 2015, 13th in Nevada. In the past 12 months, Wash o-gun costs about $ 18. 00 per person and Klark County costs $ 19. 00, while Story County costs more than $ 420. 000 per person. The nationwide consumer trust index has made significant improvements during 2017 and has risen to a high level since 2000. The US retail sales increase by 3, 2 % in 2016, up 4 or 2 % this year, and people consumption is growing. In the last few years, Nevada has easily exceeded the USA average in retail sales, and its growth has accelerated in 2017, and the total taxable retail sales at the end of 12 months until October 2017. It tends to increase by 6 or 6 %. In 2016, Nevada's taxable retail sales increased 5 or 1 % yea r-o n-year. If these 6 and 6 % growth lasted for the last two months in 2017, the growth rate of taxable retail sales in the entire state has reached 7 and 1 % since 2011. December is traditionally the most important month for retail sales, and in 2017, 2017 has reported that the consumption of the 2017 holiday season was about $ 600 billion. The numbers all year round are likely to maintain this growth level.

While retail tax sales in the entire state showed a strong growth, specific industries showed different growth throughout Nevada. Due to the increase in larg e-scale construction projects and buildings throughout the state, demand for architectural and construction materials has increased, and in the last 12 months until October, 13, 7%in Clark County and 9 in Washo County. 8%taxation has increased. The growth of a professional contractor (in many cases, a company that conducts construction work) shows a greater variation. Clark County recorded a 2, 5 % decline this year, while Washo County has grown 12, 4 %. The growth rate of the entire state in the past 12 months was 9, 7 %, far exceeding the total tax retail sales of 6 and 6 %.

The restaurant industry and bar are the largest sources of retail sales in the whole state, but unlike the construction industry, they do not have a major share in recent growth. In the Washo County, bars and restaurants were doing well, and sales up to October increased by 8. 6 %. In Clark County, the average of all sectors increased by 3. 8 %, an increase of 4. 1 %, exceeding the average. In the whole state, the average is below the average 4.

Overall, Nevada's individuals and companies continue to show the growing motivation to consumer and business investment. The growth of taxable retail sales increased, while 12 of the 17 counties grew, but the largest population (account for more than 86 % of the total taxable retail sales in the state) was lower than the state average. It is distributed relatively evenly in the whole state. This growth is well dispersed throughout the economy, and has a positive contribution to the manufacturing, construction, retail, and various services. While the construction project in the state continues to provide shor t-term economic stimuli measures, the tightness of the labor market has become a rise in wages, the taxable retail sales in Nevada continue to increase, and the annual growth rate goes back to 2010. The chain will be expanded. As the retail tax sales in the entire state showed a strong growth, specific industries showed different growth throughout Nevada. Due to the increase in larg e-scale construction projects and buildings throughout the state, demand for architectural and construction materials has increased, and in the last 12 months until October, 13, 7%in Clark County and 9 in Washo County. 8%taxation has increased. The growth of a professional contractor (in many cases, a company that conducts construction work) shows a greater variation. Clark County recorded a 2, 5 % decline this year, while Washo County has grown 12, 4 %. The growth rate of the entire state in the past 12 months was 9, 7 %, far exceeding the total tax retail sales of 6 and 6 %.

Overall, Nevada's individuals and companies continue to show the growing motivation to consumer and business investment. The growth of taxable retail sales increased, while 12 of the 17 counties grew, but the largest population (account for more than 86 % of the total taxable retail sales in the state) was lower than the state average. It is distributed relatively evenly in the whole state. This growth is well dispersed throughout the economy, and has a positive contribution to the manufacturing, construction, retail, and various services. While the construction project in the state continues to provide shor t-term economic stimuli measures, the tightness of the labor market has become a rise in wages, the taxable retail sales in Nevada continue to increase, and the annual growth rate goes back to 2010. The chain will be expanded. While retail tax sales in the entire state showed a strong growth, specific industries showed different growth throughout Nevada. Due to the increase in larg e-scale construction projects and buildings throughout the state, the demand for architectural and construction materials has increased, and in the last 12 months until October, 13, 7%in Clark County and 9 in Washo County. 8%taxable sales increased. The growth of a professional contractor (in many cases, a company that conducts construction work) shows a greater variation. Clark County recorded a 2, 5 % decline this year, while Washo County has grown 12, 4 %. The growth rate of the entire state in the past 12 months was 9, 7 %, far exceeding the total tax retail sales of 6 and 6 %.

The important thing in evaluating the health of the economy as a whole is to see the wages received by workers in their country. Wages are the most common means for US people to make a living. The rise in wages indicates that employment opportunities are usually expanded, and employers have to increase their wages to attract and maintain skilled employees. Increased wages will eventually contribute to the increase in personal consumption, which accounts for tw o-thirds of the national economy.

The national average weekly wage in October 2017 has risen by 2. 3 %, and the prolonged growth has continued to increase the growth rate for the past 12 months to 2. 5 % since 2012. This trend was born in a good economic environment, where the unemployment rate was the lowest in this century, the recruitment ratio was at least 2000, and the turnover rate was the highest in the past 10 years. When these indicators are combined, it indicates the current state of the national economy that the number of workers is too small to fill an increasing employment opportunity. As a result, employers who compete for limited workers have raised their workers.

In Nevada, the employment growth rate in October 2017 was 2. 8 % yea r-o n-year, the top US, the highest in taxation retail sales, and the population growth rate was the second largest in the United States. The economy itself continues to be strong. However, the state's wage rise rate fell below the national average. The average weekly wage in October 2017 was $ 780 and $ 39, up 1, 9 % yea r-o n-year. The wage level was a record high, and the growth rate was 34th in the United States. The average weekly wage in the Las Vegas metropolitan area was $ 793, 36, up 4. 3 % yea r-o n-year, to a record high. The growth rate of the previous year is the ninth of the 30 metropolitan areas. Meanwhile, the average weekly wage in the Rinocre metropolitan area in October 2017 was $ 813, up to $ 813, up 1, 6 % yea r-o n-year. The important thing in evaluating the soundness of the whole economy is to see the wages received by workers in their country. Wages are the most common means for US people to make a living. The rise in wages indicates that employment opportunities are usually expanded, and employers have to increase their wages to attract and maintain skilled employees. Increased wages will eventually contribute to the increase in personal consumption, which accounts for tw o-thirds of the national economy.

In Nevada, the employment growth rate in October 2017 was 2. 8 % yea r-o n-year, the top US, the highest in taxation retail sales, and the population growth rate was the second largest in the United States. The economy itself continues to be strong. However, the state's wage rise rate fell below the national average. The average weekly wage in October 2017 was $ 780 and $ 39, up 1, 9 % yea r-o n-year. The wage level was a record high, and the growth rate was 34th in the United States. The average weekly wage in the Las Vegas metropolitan area was $ 793, 36, up 4. 3 % yea r-o n-year, to a record high. The growth rate of the previous year is the ninth of the 30 metropolitan areas. Meanwhile, the average weekly wage in the Rinocre metropolitan area in October 2017 was $ 813, up to $ 813, up 1, 6 % yea r-o n-year. The important thing in evaluating the health of the economy as a whole is to see the wages received by workers in their country. Wages are the most common means for US people to make a living. The rise in wages indicates that employment opportunities are usually expanded, and employers have to increase their wages to attract and maintain skilled employees. Increased wages will eventually contribute to the increase in personal consumption, which accounts for tw o-thirds of the national economy.

Even if Nevada's economic environment was overwhelmingly good, the state's weekly increase did not keep pace with other countries. The rate of wages in the state has surpassed the whole country in 2014 and 2015, but has recently slowed. The main factor in which wages slowed down the average is that the state employment and population growth are faster than the average. Nevada has been attracting new residents to the state for employment, as it has been around for decades, and other workers have returned to work after many years. These new workers have increased 1. 3 % of the working population in October 2017 (whether they are in job or actively working) have increased by 1. 3 %, twice the national average of 0. 7 %. It was close. Increase in labor population generally weakens wage rise pressure so that employers can choose more workers.

Workers supply and demand trends apply to industr y-level wages. The wages earned by Nevada's manufacturing were increased by 5, 7 % to $ 1, 054, 02, compared to 4, 0 % of the United States as a whole. It is noted that the construction of the construction industry has increased by 13. 6 % last year and is the fastest growing employment department in the state. This suggests that demand for construction companies will continue to be high, as construction and larg e-scale commercial projects are in progress or in advance. The average weekly income of financial services has gone out of the United States, up 6, 7 % yea r-o n-year to $ 999, 40, a 3, 2 % growing rate of the United States.

The US and Economic Indicators in each state indicate that each economy will continue to grow for the time being, and the trends in the population and employment of each state are still suitable for positive areas. As the economy of the country and the state expands, wages also benefit, the economic welfare of workers and their families is improving, and personal consumption that supports widespread economic growth is promoted. Even if the Nevada economic environment was overwhelmingly good, the state's weekly increase rate did not keep pace with other countries. The rate of wages in the state has surpassed the whole country in 2014 and 2015, but has recently slowed. The main factor in which wages slowed down the average is that the state employment and population growth are faster than the average. Nevada has been attracting new residents to the state for employment, as it has been around for decades, and other workers have returned to work after many years. These new workers have increased 1. 3 % of the working population in October 2017 (whether they are in job or actively working) have increased by 1. 3 %, twice the national average of 0. 7 %. It was close. Increase in labor population generally weakens wage rise pressure so that employers can choose more workers.

The US and Economic Indicators in each state indicate that each economy will continue to grow for the time being, and the trends in the population and employment of each state are still suitable for positive areas. As the economy of the country and the state expands, wages also benefit, the economic welfare of workers and their families is improving, and personal consumption that supports widespread economic growth is promoted. Even if Nevada's economic environment was overwhelmingly good, the state's weekly increase did not keep pace with other countries. The rate of wages in the state has surpassed the whole country in 2014 and 2015, but has recently slowed. The main factor in which wages slowed down the average is that the state employment and population growth are faster than the average. Nevada has been attracting new residents to the state for employment, as it has been around for decades, and other workers have returned to work after many years. These new workers have increased 1. 3 % of the working population in October 2017 (whether they are in job or actively working) have increased by 1. 3 %, twice the national average of 0. 7 %. It was close. Increase in labor population generally weakens wage rise pressure so that employers can choose more workers.

Workers supply and demand trends apply to industr y-level wages. The wages earned by the Nevada manufacturing industry were $ 1, 054, 02, up 5, 7 %, compared to 4, 0 % of the United States as a whole. It is noted that the construction of the construction industry has increased by 13. 6 % last year and is the fastest growing employment department in the state. This suggests that demand for construction companies will continue to be high, as construction and larg e-scale commercial projects are in progress or in advance. The average weekly income of financial services has gone out of the United States, up 6, 7 % yea r-o n-year to $ 999, 40, a 3, 2 % growing rate of the United States.

Nevada's attractive labor market and a wide range of and good economic conditions continue to have the highest employment growth to the silver state. The state recorded an increase in employment by 2. 7 % yea r-o n-year in September 2017, increasing by 36. 100 compared to the previous year. Although this growth rate is low for the first time in four years, it is more than twice as much as 1. 3 % in the United States and is the number one in all states. In fact, the employment rate in Nevada is ranked first in the United States for four consecutive months, and in 2017 it is not ranked 3rd or lower. By region, the Las Vegas metropolitan area (2, 4 %) and the Renin Urban Statistical area (1, 9 %) exceeded the employment growth rate in the United States.

The employment growth rate throughout Nevada as a whole is higher than the United States, but the unemployment rate is still higher than the United States. For the past 12 months, Nevada's unemployment rate has decreased by 0. 4 points and the United States has decreased by 0. 7 points. This is a sign that the working population of Nevada has been raised, attracting new inhabitants who are moving in search of employment opportunities for the economy.

The increase in employment in Nevada in the past 12 months has been shared in most industries. The construction industry has recorded the largest growth since September 2016, increased 11. 100 employment, and had a growth rate of 14. 2 %. In recent history, the construction industry is the most severe industry in Nevada, and has lost more than 100. 000 employment during the economic retreat. The construction industry is the main driving force for the current economic expansion, but the percentage of employment has decreased from 10 years ago, indicating that the economic diversity of the whole state is expanding. Nevada's attractive labor markets and widespread and good economic conditions continue to grow the best employment growth in the silver state. The state recorded an increase in employment by 2. 7 % yea r-o n-year in September 2017, increasing by 36. 100 compared to the previous year. Although this growth rate is low for the first time in four years, it is more than twice as much as 1. 3 % in the United States and is the number one in all states. In fact, the employment rate in Nevada is ranked first in the United States for four consecutive months, and in 2017 it is not ranked 3rd or lower. By region, the Las Vegas metropolitan area (2, 4 %) and the Renin Urban Statistical area (1, 9 %) exceeded the employment growth rate in the United States.

The increase in employment in Nevada in the past 12 months has been shared in most industries. The construction industry has recorded the largest growth since September 2016, increased 11. 100 employment, and had a growth rate of 14. 2 %. In recent history, the construction industry is the most severe industry in Nevada, and has lost more than 100. 000 employment during the economic retreat. The construction industry is the main driving force for the current economic expansion, but the percentage of employment has decreased from 10 years ago, indicating that the economic diversity of the whole state is expanding. Nevada's attractive labor market and a wide range of and good economic conditions continue to have the highest employment growth to the silver state. The state recorded an increase in employment by 2. 7 % yea r-o n-year in September 2017, increasing by 36. 100 compared to the previous year. Although this growth rate is low for the first time in four years, it is more than twice as much as 1. 3 % in the United States and is the number one in all states. In fact, the employment rate in Nevada is ranked first in the United States for four consecutive months, and in 2017 it is not ranked 3rd or lower. By region, the Las Vegas metropolitan area (2, 4 %) and the Renin Urban Statistical area (1, 9 %) exceeded the employment growth rate in the United States.

Over the past year, construction led employment growth in both the Las Vegas and Reno metropolitan areas, with growth rates of 18. 0% and 9. 2%, respectively. Since then, each metropolitan area has driven employment growth in a variety of sectors. In the Las Vegas metropolitan area, the three fastest growing industries outside of construction were education and health services (4. 2%), professional and business services (3. 7%), and financial activities (3. 1%). Education and health services employment has been growing steadily throughout the state in recent years, as the health care industry keeps pace with the state's significant population growth. The recovery of the real estate market is the main driver of the increase in economic employment numbers, and as new businesses continue to locate in the Las Vegas area, demand for professional services is also increasing.

In the Reno metropolitan area, the top three industries after construction were information (4. 8%), manufacturing (4. 2%), and education and health services (3. 9%). Reno's information industry employment outpaced state and national levels, which is linked to the expansion of data center operations in the area, including Apple and Switch, while manufacturing job growth is also driven in part by job growth at Tesla's Gigafactory.

Over the past year, Nevada recorded one of the most consistent and notable job gains in the United States. Labor market expansion has been a major factor in the return of productive population growth to Nevada in recent years, and population growth is a key driver of the overall health of Nevada's economy. The fundamental conditions that made this possible seem poised to take over as the top job market in 2017 into 2018.

Nevada's healthcare industry is one of the most rapid economic sectors in the state in recent years, and has slightly exceeded the growth of Nevada's economic economy. However, despite this powerful and stable growth, the healthcare industry in Nevada is significantly smaller in both healthcare GDP and the ratio of the entire GDP to the national average. The relatively small size of the industry has a certain effect on the effectiveness of the state healthcare system due to the growing population, but it is also potential for the same industry under population decline. It also shows a growth opportunity.

In 2016, Nevada's Medical and Social Auxiliary Industry contributed $ 8. 9 billion to State GDP, accounted for about 6 % of Nevada's general production, and rose from 4. 2 % in 2005. Many of the increase in the healthcare industry, compared to other parts of the state economy, have been brought to the Great recession and the subsequent economic retreat. Between 2005 and 2012, the GDP growth rate in the state was 0. 8 % per year, but negative growth due to a recession became a burden. During the same period, the healthcare department grew by 4, 9 % every year, and the number of years has grown further for a few years, increasing by 5, 9 % every year between 2013 and 2016. Despite this rapid expansion, the relative scale of the Nevada Healthcare Industry has separated the healthcare division of 7, 4 % of the US GDP. Nevada's healthcare industry is one of the most rapid economic sectors in the state in recent years, and has slightly exceeded the growth of Nevada's economy as a whole. However, despite this powerful and stable growth, the healthcare industry in Nevada is significantly smaller in both healthcare GDP and the ratio of the entire GDP to the national average. The relatively small size of the industry has a certain effect on the effectiveness of the state healthcare system due to the growing population, but it is also potential for the same industry under population decline. It also shows a growth opportunity.

In 2016, Nevada's Medical and Social Auxiliary Industry contributed $ 8. 9 billion to State GDP, accounted for about 6 % of Nevada's general production, and rose from 4. 2 % in 2005. Many of the increase in the healthcare industry, compared to other parts of the state economy, was brought to the Great Cuspect and the subsequent economic retreat. Between 2005 and 2012, the GDP growth rate in the state was 0. 8 % per year, but negative growth due to a recession became a burden. During the same period, the healthcare division grew 4, 9 % every year, and for the next few years, it grew further, increasing by 5, 9 % from 2013 to 2016. Despite this rapid expansion, the relative scale of the Nevada Healthcare Industry has separated the healthcare division of 7, 4 % of the US GDP. Nevada's healthcare industry is one of the most rapid economic sectors in the state in recent years, and has slightly exceeded the growth of Nevada's economic economy. However, despite this powerful and stable growth, the healthcare industry in Nevada is significantly smaller in both healthcare GDP and the ratio of the entire GDP to the national average. The relatively small size of the industry has a certain effect on the effectiveness of the state healthcare system due to the growing population, but it is also potential for the same industry under population decline. It also shows a growth opportunity.

One of the reasons for Nevada's medical system is the rapid population growth in recent decades. Since 1980, the population of the state has increased by 3. 7 % each year, 1. 0 % in the United States, but the number of doctors and medical experts in Nevada is struggling to keep up with it. According to the US Resource Service Agency, the number of doctors per 100, 000 population in Nevada is 244, 9, 48th in the United States, which is significantly behind the national average of 344, 4 people. In order to reduce the pressure under the shortage of doctors, the state has been conducting various reforms, including acknowledging the degree of freedom of medical treatment to advanced practical nurses (APN) and doctor assistants (PAS). In Nevada, the number of APN and PAS has increased significantly in recent years, and the number per 100, 000 inhabitants has doubled in the past decade. However, in spite of such an increase, Nevada is 38th in the PAS number per 100, 000 population and the lowest in the United States.

The recent expansion of Nevada's healthcare industry has been encouraged by an increase in demand due to the significant increase in the number of health insurance subscribers. Since the enactment of the Medical Insurance Reform Law in 2010, Nevada's ratio has decreased the most and has improved by more than 11 points. The expansion of Medicade plays a major role in this improvement. Since the expansion began in 2014, Medicade has increased more than 300. 000, and the total number of subscribers in Nevada has doubled. Despite these improvements, a recent WALLETHUB survey shows that Nevada's unusual insurance is still the eighth in the United States, and is the second highest in 31 states, which chose Medicade expansion.

Nevada has continued to work on expanding the scale of the medical industry, and the most attracting attention is the New School of Medicine at the University of Las Vegas. The school enrolled the firs t-year students this year, started classes in July, and signed a future campus design contract this month. After the permanent facility was completed, the leaders of the school expect about 120 students a year. Currently, the Nevada University School of Medicine has graduated from about 60 students a year, so this number is tripled than the number of medical graduates in the state. One of the smal l-scale Nevada medical systems is the rapid population growth in recent decades. Since 1980, the population of the state has increased by 3. 7 % each year, 1. 0 % in the United States, but the number of doctors and medical experts in Nevada is struggling to keep up with it. According to the US Resource Service Agency, the number of doctors per 100, 000 population in Nevada is 244, 9, 48th in the United States, which is significantly behind the national average of 344, 4 people. In order to reduce the pressure under the shortage of doctors, the state has been conducting various reforms, including acknowledging the degree of freedom of medical treatment to advanced practical nurses (APN) and doctor assistants (PAS). In Nevada, the number of APN and PAS has increased significantly in recent years, and the number per 100, 000 inhabitants has doubled in the past decade. However, in spite of such an increase, Nevada is 38th in the PAS number per 100, 000 population and the lowest in the United States.

The recent expansion of Nevada's healthcare industry has been encouraged by an increase in demand due to the significant increase in the number of health insurance subscribers. Since the enactment of the Medical Insurance Reform Law in 2010, Nevada's ratio has decreased the most and has improved by more than 11 points. The expansion of Medicade plays a major role in this improvement. Since the expansion began in 2014, Medicade has increased more than 300. 000, and the total number of subscribers in Nevada has doubled. Despite these improvements, a recent Wallethub survey shows that Nevada's unusual insurance is still the eighth in the United States, and is the second highest in 31 states, which chose medicade expansion.

Nevada has continued to work on expanding the scale of the medical industry, and the most attracting attention is the New School of Medicine at the University of Las Vegas. The school enrolled the firs t-year students this year, started classes in July, and signed a future campus design contract this month. After the permanent facility was completed, the leaders of the school expect about 120 students a year. Currently, the Nevada University School of Medicine has graduated from about 60 students a year, so this number is tripled than the number of medical graduates in the state. One of the reasons for Nevada's medical system is the rapid population growth in recent decades. Since 1980, the population of the state has increased by 3. 7 % each year, 1. 0 % in the United States, but the number of doctors and medical experts in Nevada is struggling to keep up with it. According to the US Resource Service Agency, the number of doctors per 100, 000 population in Nevada is 244, 9, 48th in the United States, which is significantly behind the national average of 344, 4 people. In order to reduce the pressure under the shortage of doctors, the state has been conducting various reforms, including acknowledging the degree of freedom of medical treatment to advanced practical nurses (APN) and doctor assistants (PAS). In Nevada, the number of APN and PAS has increased significantly in recent years, and the number per 100, 000 inhabitants has doubled in the past decade. However, in spite of such an increase, Nevada is 38th in the PAS number per 100, 000 population and the lowest in the United States.

This continuous effort to increase the number of healthcare professionals throughout Nevada, which plays an important role in responding to the rapidly increasing economic effects of the medical department and responding to the rapidly growing state population medical and health care. 。

Over the past decade, the manufacturing industry in Nevada has repeatedly expanded and reduced with the ups and downs of the state economy. Nowadays, the largest industries have been hit by the economic retreat, as the fastest growing employment department in Nevada. The resurrection has a positive impact on the entire state economy by increasing employment and infrastructure not only in people engaged in the industry, but also to respond to rapidly expanding state demand.

For the past year, Nevada has consistently recorded the highest employment growth in the United States, and the construction department is an important factor in this growth. Until July 2017, the total employment of Nevada has expanded every year for 79 consecutive months, reaching more than 3. 0%of the 43 months in the past 44 months. In July 2017, the highest value of 87. 000 people in the state of the state was 87. 000, up 12. 7 % yea r-o n-year. By the way, the number of construction employees in the United States was only 2. 5 %. The rapid increase in labor in Nevada has greatly raised the number of employees. The construction industry increased 9. 800 employment in one year, accounting for 25. 5 % of the 38. 400 new employment in the whole state. The only department that increased employment was 11. 400 specialized and business services.

State population growth is an important factor in the growth of the construction industry. In particular, the population of the Las Vegas metropolitan area increased by 2. 2 % in the same period, expanding the fourth fastest in the United States. This continuous effort to increase the number of medical professionals throughout Nevada is important in responding to the rapidly increasing economic effects of the medical department and responding to the rapidly increasing state population medical care and health care. Performs a role.

State population growth is an important factor in the growth of the construction industry. In particular, the population of the Las Vegas metropolitan area increased by 2. 2 % in the same period, expanding the fourth fastest in the United States. This continuous effort to increase the number of healthcare professionals throughout Nevada, which plays an important role in responding to the rapidly increasing economic effects of the medical department and responding to the rapidly growing state population medical and health care. 。

Steady population and personal income growth in Nevada has boosted demand for new homes across the state, a key driver of growth in the construction industry. In Washoe County, 4, 350 homes were permitted in the 12 months ending in June 2017, the highest 12-month total in more than a decade and a 73. 9% improvement from the June 2016 total of 2, 501 homes. In Clark County, new home permit applications increased 10. 5% to 8, 910 during the same period. In both metropolitan areas in the state, resale values were quickly reported as closings increased and inventory was low, putting additional pressure on home builders to offer new products.

Nevada's revitalized economy has also spawned a long list of commercial construction projects, including high-profile investments such as the Tesla Gigafactory, T-Mobile Arena, Resorts World Las Vegas, the Las Vegas Convention Center, and the expansion and renovation of Las Vegas Stadium. With over $18 billion in investments currently under construction statewide ($7. 4 billion in Southern Nevada and $10. 7 billion in Northern Nevada), developers know there is no shortage of projects in Nevada. Another $9. 6 billion is in the "planning" state for future development. State completed projects in 2017 totaled approximately $645. 9 million, with hundreds of millions more expected to be completed by the end of the year.

In Nevada, you can earn wages nearly 50% higher than the national average. The rapid growth of the construction sector may be cause for some caution, especially given memories of the boom years leading up to the Great Recession. Currently, construction employment accounts for 6. 5% of the workforce, which is about one-third of the national average. However, this figure is only about half of the pre-recession peak of 11. 5% in June 2006, which indicates a more diversified economy that is less susceptible to fluctuations in the construction sector.

Nevada's construction industry has made a remarkable recovery in recent years, and this momentum is set to continue as continued population growth expands the overall economy and increases demand for new homes and businesses.

This month, millions of students in the United States are heading for university campuses to start or continue higher education. Most of these students take the next step in their lives, learn, train, and prepare to go to society. For students who have obtained a degree, their academic results will be more advantageous in job hunting than candidates who have not graduated from university, gain higher wages, and enjoy a stable job throughout their lives.

These benefits emphasize the importance of education after the completion of secondary education. After the completion of secondary education, the national labor market has become more indispensable today, when workers seek more skills and knowledge. As a result, the number of students enrolled in universities is increasing. According to the United States Census Bureau, the number of students enrolled in universities nationwide has increased steadily in the past decade to 2. 2 %, with a total of about 17 million in 2015 (the latest version). Nevada has a similar trend, and since 2005, it has shown an average of 3, 4 % a year. In 2015, the number of students in the Silver State was 141. 000, and the recent number of enrolled students could reflect further growth because the population of the state has expanded at the fastest speed in Japan in the past two years. There is sex.

Repayment to students promises more income and economic life stability. According to a survey on the financial happiness of US households conducted by the US Federal Reserve Council (Fed) in 2016, university graduates are "no problem" or "living comfortably" compared to adults who have no degree. There was a high possibility. It was also found that those who have a educational background more than a degree may live in a household with an annual income of $ 100, 000 or more than those who are not university graduates. This month, millions of students in the United States are heading for university campuses to start or continue higher education. Most of these students take the next step in their lives, learn, train, and prepare to go to society. For students who have obtained a degree, their academic results will be more advantageous in job hunting than candidates who have not graduated from university, gain higher wages, and enjoy a stable job throughout their lives.

Repayment to students promises more income and economic life stability. According to a survey on the financial happiness of US households conducted by the US Federal Reserve Council (Fed) in 2016, university graduates are "no problem" or "living comfortably" compared to adults who have no degree. There was a high possibility. It was also found that those who have a educational background more than a degree may live in a household with an annual income of $ 100, 000 or more than those who are not university graduates. This month, millions of students in the United States are heading for university campuses to start or continue higher education. Most of these students take the next step in their lives, learn, train, and prepare to go to society. For students who have won the degree, their academic results will be more advantageous in job hunting than candidates who have not graduated from university, gain higher wages, and enjoy a stable job throughout their lives.

These benefits emphasize the importance of education after the completion of secondary education. The education after the completion of secondary education is more indispensable today, when the national labor market is seeking more skills and knowledge from workers. As a result, the number of students enrolled in universities is increasing. According to the United States Census Bureau, the number of students enrolled in universities nationwide has increased steadily in the past decade to 2. 2 %, with a total of about 17 million in 2015 (the latest version). Nevada has a similar trend, and since 2005, it has shown an average of 3, 4 % a year. In 2015, the number of students in the Silver State was 141. 000, and the recent number of enrolled students could reflect further growth because the population of the state has expanded at the fastest speed in Japan in the past two years. There is sex.

The link between higher education and income is clear. According to Census Bureau data, the median personal income in Nevada was about $33, 800 in 2015. Workers with only a high school diploma earned about 10% less, at $30, 300. Those with some college or an associate degree earned just $33, 300, slightly below the median, while those with a bachelor's degree earned $46, 000. This is about 1. 5 times the median for high school graduates and 1. 4 times the median for those with a bachelor's degree. Workers with advanced degrees earned $62, 200, double the income of workers who did not attend college.

For many students, financial barriers threaten their degree pursuit. Rising tuition fees, rising costs and rising student loan debt can put the dream of higher education out of reach. While many Nevadans face these same obstacles, the Silver State offers a less financially burdensome post-secondary education.

According to College Board data, the average tuition fee for a four-year public institution in Nevada rose 2. 8% in the 2016-17 school year to $6, 904 per year. Tuition has risen 7. 3% over the past five years, lower than the national average of 9. 4%. Tuition fees at Nevada's public colleges are also 28. 4% lower than the national average of $9, 650, which is about $11.

Low tuition fees, combined with financial aid programs such as the Millennium Scholarship and Federal Pell Grants, keep Nevada students' loan debt to a minimum. According to the Institute for College Access and Success, the average debt load for students enrolled in public and private four-year colleges in Nevada was $20, 200 in 2013-14, the third lowest in the nation.

Nevada has long been one of the lowest in the United States with a colleg e-level educational background rate. As Nevada continues to develop industries such as advanced manufacturing and healthcare, higher education is an important factor in improving individual workers and diversifying and strengthening the whole economy. Will be proven.

Most economic observers did not expect the crude oil prices to fall long term when crude oil prices crashed in 2014. They predict that 14 member states will be able to supply OPEC, which controls about 40 % of the world's oil production and more than 70 % of the oil reserves, and will increase the price of crude oil to over $ 100 per barrel. Ta. However, over the past three years, crude oil prices have been around $ 50 per barrel. Not good for OPEC countries, but a decline in crude oil prices leads to a decline in gasoline prices, which is an economic interest for consumers and companies in Nevada.

OPEC's influence in the world oil market has weakened due to the sluggish global demand and the increase in production from other countries, such as expanding the US and shale oil business. In May, OPEC announced a new production reduction aimed at reducing oil supply and raising prices. This strategy has not yet improved its production, as the production volume has increased in other countries, especially in the United States, and the high level of crude oil production has increased to a high level for the first time in two years. Nevada has long been one of the lowest in the United States with a lon g-term universit y-level educational background. As Nevada continues to develop industries such as advanced manufacturing and healthcare, higher education is an important factor in improving individual workers and diversifying and strengthening the whole economy. Will be proven.

OPEC's influence in the world oil market has weakened due to the sluggish global demand and the increase in production from other countries, such as expanding the US and shale oil business. In May, OPEC announced a new production reduction aimed at reducing oil supply and raising prices. This strategy has not yet improved its production, as the production volume has increased in other countries, especially in the United States, and the high level of crude oil production has increased to a high level for the first time in two years. Nevada has long been one of the lowest in the United States with a colleg e-level educational background rate. As Nevada continues to develop industries such as advanced manufacturing and healthcare, higher education is an important factor in improving individual workers and diversifying and strengthening the whole economy. Will be proven.

Nevadans are benefiting from a long period of low gasoline prices. According to AAA, the current state average price for regular gasoline is $2. 56 per gallon. This represents a 1. 5% increase over the past year, but remains about one-third lower than the recent price peak in the summer of 2014. According to the U. S. Consumer Expenditure Survey, the average American household spent $1. 5 billion on gasoline and motor oil. This difference is estimated to equate to an additional $570 million in discretionary income for Nevadan households to spend on other goods and services. This is important because Nevada imports much of what it needs. The overall impact of lower gasoline prices is also reflected in overall gasoline sales. In the 12 months ending in April 2017, approximately 1. 2 billion gallons of gasoline were sold in Nevada. Compared to the recent peak in gasoline prices in the summer of 2014, Nevadans are now paying an average of $1. 19 less per gallon, translating to $1. 4 billion in annual savings.

These savings have played a role in the state's recent economic recovery, though the extent of this is unclear. What is clear, however, is that Nevadans are driving more than they did before the Great Recession, an indicator of population growth, job growth, commercial expansion and other positive economic factors. According to the latest data from the Nevada Department of Transportation, Nevadans traveled 25. 1 billion miles on the state's roads and highways in 2015, up 13. 0% from 2007. In Southern Nevada, average daily traffic on major highways was 115, 200 miles last year, the highest ever recorded and 32. 5% higher than the pre-recession peak of 87, 000 miles traveled in 2006. During this time, Clark County's population grew 21. 4%, suggesting that about one-third of the increase in highway traffic is due to increased economic activity.

In Clark County, the long-term decline in gasoline prices appears to have helped voters gain support for the fuel revenue slide. Approved in November 2016, the slide will add about 3 cents per gallon to fund major road and highway infrastructure projects over the next 10 years. According to the Southern Nevada Regional Transportation Commission, the fuel revenue slide is expected to generate up to $3 billion for road projects and create 25, 000 jobs. These infrastructure investments are essential to support the continued economic growth of this fast-growing region.

The long-term outlook for lower gas prices is unclear as the Organization of the Petroleum Exporting Countries (OPEC) continues to monitor global markets and adjust production to stimulate prices. Additionally, global events could suddenly shift supply and demand factors, causing natural gas prices to rise. But for now, Nevadans can enjoy lower gas prices and all the benefits that come with them.

The Nevada Legislature closed its 79th session this month with the passage of several bills to support the growth and development of the state's renewable energy industry. The most notable of these bills is Assembly Bill 405, which revises net metering rates for solar power, which is expected to revitalize the solar power industry at the top of the state's electricity grid. Overall, the new green bill builds on years of renewable energy development and policies in Nevada, which has made great strides in decarbonizing and increasing renewable energy production (especially solar and geothermal).

Twelve years ago, 7. 4% of Nevada's electricity was generated by renewable energy. Since then, the state's green energy production has nearly tripled, with renewables making up 21. 6% of total production last year. The biggest leaps in clean energy production have come from geothermal and solar energy. Since 2006, geothermal power production has increased 79%, and the 3. 8 million megawatt-hours produced in Nevada last year were the second-highest in the nation. The state's solar power generation, which was nonexistent a decade ago, increased to 2. 5 million megawatt-hours last year, ranking fourth in the nation. Meanwhile, the share of coal in electricity generation has halved over the same period and is expected to decline further due to the closure of the Reed Gardner Generating Station outside Las Vegas. Notably, 2016 was the first year that energy production from the sun in Nevada surpassed coal. According to data from the U. S. Energy Information Administration, Nevada's overall renewable energy production was the 17th highest percentage in the nation.

The shift to clean energy is driven by a combination of economic and environmental benefits. The price of renewable energy, especially solar energy, has fallen dramatically in recent years. For example, the Boulder Solar II plant, which opened earlier this year, produces electricity at 4. 0 cents per kilowatt-hour, less than one-third the 13. 3 cents per kilowatt-hour produced by the Apex Solar Power plant, which opened just five years ago.

With price savings achieved as renewable energy becomes cheaper and more efficient, many Nevada businesses are pursuing green energy initiatives and increasing their renewable energy portfolios. In the past two years, NV Energy signed a deal with Switch Inc. to provide solar power for 100 percent of its Nevada operations, and the energy producer also signed a deal with Apple Inc. to expand the capacity of its existing solar farm by 200 megawatts to support the company's growth. Reno data center Other initiatives include MGM Resorts International's recent installation of the largest rooftop solar project in the U. S. at Mandalay Bay and Tesla's plan to power its Gigafactory in northern Nevada entirely with solar energy.

While large companies in Nevada are working on green energy, the industry is still an important focus of the State Governor's Economic Development Bureau. Nevada, which has spacious land and abundant sun, wind power, and geothermal energy, is naturally suitable for investing in renewable energy development. These investments support thousands of employment throughout the state. According to a recently published report by the US Ministry of Energy, the state's solar power generation industry employs 11, 200 people, the fifth in the United States.

It is expected that more solar power employment will be created by the passage of the lower house bill 405, which is probably the most notable green energy bill in the 2017 legislative council. The bill is hoped to revive the Nevad a-states by reviving the net meta l-powered customers to residential solar power customers. Rooftop solarcity, such as Vivint Solar, Sunrun, and Solarcity, has announced that it will return to Nevada with the consequence of the bill. In 2015, the Nevada Public Service Committee changed the conventional net metal ring, and lost 2. 600 employment as each company left the state. Under the net metal, the rooftop solar power customer receives the credit of the surplus power generated by the system.

In just over 10 years, Nevada's clean energy industry has grown significantly, and the continuous commitment of the state and corporate leaders will further develop this success in the coming years. I'm preparing.
Google recently purchased a 1. 210 acres of Taho Reno Industrial Center has become a new progress for the hig h-tech region's economic expansion. Google, who has stated that it will build a data center in the land in the land, has joined a list of hig h-tech companies that have expanded or started their business in northern Nevada. In recent years, companies such as Tesla, Panasonic, Microsoft, Switch, Eve, and Apple have advanced, contributing to the diversification of the regional economy and the state economy, and for Silicon Valley's powerful companies, Nebada business. The reputation of being a easy place is enhanced. Nevada's large companies are working on green energy, while the industry is still an important focus of the State Economic Development Bureau. Nevada, which has spacious land and abundant sun, wind power, and geothermal energy, is naturally suitable for investing in renewable energy development. These investments support thousands of employment throughout the state. According to a recently published report by the US Ministry of Energy, the state's solar power generation industry employs 11, 200 people, the fifth in the United States.
It is expected that more solar power employment will be created by the passage of the lower house bill 405, which is probably the most notable green energy bill in the 2017 legislative council. The bill is hoped to revive the Nevad a-states by reviving the net meta l-powered customers to residential solar power customers. Rooftop solarcity, such as Vivint Solar, Sunrun, and Solarcity, has announced that it will return to Nevada with the consequence of the bill. In 2015, the Nevada Public Service Committee changed the conventional net metal ring, and lost 2. 600 employment as each company left the state. Under the net metal, the rooftop solar power customer receives the credit of the surplus power generated by the system.
In just over 10 years, Nevada's clean energy industry has grown significantly, and the continuous commitment of the state and corporate leaders will further develop this success in the coming years. I'm preparing.

Google recently purchased a 1. 210 acres of Taho Reno Industrial Center has become a new progress for the hig h-tech region's economic expansion. Google, who has stated that it will build a data center in the land in the land, has joined a list of hig h-tech companies that have expanded or started their business in northern Nevada. In recent years, companies such as Tesla, Panasonic, Microsoft, Switch, Eve, and Apple have advanced, contributing to the diversification of the regional economy and the state economy, and for Silicon Valley's powerful companies, Nebada business. The reputation of being a easy place is enhanced. While large companies in Nevada are working on green energy, the industry is still an important focus of the State Governor's Economic Development Bureau. Nevada, which has spacious land and abundant sun, wind power, and geothermal energy, is naturally suitable for investing in renewable energy development. These investments support thousands of employment throughout the state. According to a recently published report by the US Ministry of Energy, the state's solar power generation industry employs 11, 200 people, the fifth in the United States.

It is expected that more solar power employment will be created by the passage of the lower house bill 405, which is probably the most notable green energy bill in the 2017 legislative council. The bill is hoped to revive the Nevad a-stat e-identification market in Nevada by reviving the ne t-meta l-powered customers to residential solar power customers. Rooftop solarcity, such as Vivint Solar, Sunrun, and Solarcity, has announced that it will return to Nevada with the consequence of the bill. In 2015, the Nevada Public Service Committee changed the conventional net metal ring, and lost 2. 600 employment as each company left the state. Under the net metal, the rooftop solar power customer receives the credit of the surplus power generated by the system.

In just over 10 years, Nevada's clean energy industry has grown significantly, and the continuous commitment of the state and corporate leaders will further develop this success in the coming years. I'm preparing.

Google recently purchased a 1. 210 acres of Taho Reno Industrial Center has become a new progress for the hig h-tech region's economic expansion. Google, which has stated that it will build a data center in the land in the land, has joined a list of hig h-tech companies that have expanded or started their business in northern Nevada. In recent years, companies such as Tesla, Panasonic, Microsoft, Switch, Eve, and Apple have advanced, contributing to the diversification of the regional economy and the state economy, and for Silicon Valley's powerful companies, Nebada business. The reputation of being a easy place is enhanced.

Apple, which opened a data center in northern Nevada in 2012, announced earlier this month that it will invest more dollars in the Reno Technology Park data center. The company plans to purchase a warehouse in Reno's center to support data center operations. The news is based on the announcement of Apple earlier this year, expanding the 20 0-megawatt solar power generation business for data centers. This lon g-term investment by Apple, one of the world's largest and most successful technologies, can help other hig h-tech companies aiming to expand and strengthen their businesses.

Meanwhile, Tesla, an electric vehicle manufacturer, has been making a breakthrough in Gigafactory and Wall Street in the Taho Reno Industrial Center. In the past two months, the company's stock prices have risen about 35 %, and market capitalization has surpassed rival Ford. Investors' trust in Tesla is also due to the company's promise that about 400, 000 people will provide a lon g-awaited popular model model for paid $ 1, 000. In Gigafactory on the outskirts of Rino, which plays an important role in the production of Tesla cars, Tesla and Panasonic continue to hire capital investment and employees. According to the most famous compliance audit of the Governor's Economic Development Bureau, the total capital investment on the project by September 2016 exceeded $ 839 million and supported 2. 500 manufacturing employment. Tesla also employs more than 1. 000 regular employees and continues to increase from 150 to 200 per month.

Giga Factory and the entire region are revealed in the ongoing work trends. On average on the average of 12 months, the construction industry has been increasing for 55 months and the manufacturing industry for 25 consecutive months. In March 2017, the construction industry increased by about 1. 100 in 12 months, increasing by 8. 1 %. The manufacturing industry also increased 900 employment in 12 months, increasing 6. 8 % in the same period, significantly growing. Opened a data center in Nevada in 2012, early this month, it announced that it would invest an additional $ 1 billion in the Reno Technology Park data center. The company plans to purchase a warehouse in Reno's center to support data center operations. The news is based on the announcement of Apple earlier this year, expanding the 20 0-megawatt solar power generation business for data centers. This lon g-term investment by Apple, one of the world's largest and most successful technologies, can help other hig h-tech companies aiming to expand and strengthen their businesses.

Giga Factory and the entire region are revealed in the ongoing work trends. On average on the average of 12 months, the construction industry has been increasing for 55 months and the manufacturing industry for 25 consecutive months. In March 2017, the construction industry increased by about 1. 100 in 12 months, increasing by 8. 1 %. The manufacturing industry also increased 900 employment in 12 months, increasing 6. 8 % in the same period, significantly growing. Apple, which opened a data center in northern Nevada in 2012, announced earlier this month that it will invest more dollars in the Reno Technology Park data center. The company plans to purchase a warehouse in Reno's center to support data center operations. The news is based on the announcement of Apple earlier this year, expanding the 20 0-megawatt solar power generation business for data centers. This lon g-term investment by Apple, one of the world's largest and most successful technologies, can help other hig h-tech companies aiming to expand and strengthen their businesses.

These industry-specific trends are part of a larger growth trend in the Northern Nevada economy. In March 2017, the number of employed people in the Reno metropolitan area increased 4. 5% on a 12-month basis to 222, 500. As employment numbers increase, the number of unemployed people is also decreasing. The 12-month average unemployment rate fell 21% over the past year, the lowest level since 2008. 10 This suggests that many unemployed people are finding work and new employment opportunities are attracting workers to the region.

Such large-scale development is a source of prosperity and improved economic conditions for most people in the region. However, it is important to recognize the potential impacts of rapid growth, such as rising housing costs. Rents in the Reno area have risen to record levels as the supply of units increases. If the housing stock cannot sustain the increased demand, upward pressure on home prices and rents may increase, raising concerns about affordability.

On the other hand, continued investment by high-tech companies such as Tesla and Apple will continue to drive economic expansion in Northern Nevada. At the same time, their success and strengthened ties to the region will encourage other companies to seek business opportunities in Northern Nevada, supporting further expansion and growth of the region's technology sector.

Giga Factory and the entire region are revealed in the ongoing work trends. On average on the average of 12 months, the construction industry has been increasing for 55 months and the manufacturing industry for 25 consecutive months. In March 2017, the construction industry increased by about 1. 100 in 12 months, increasing by 8. 1 %. The manufacturing industry also increased 900 employment in 12 months, increasing 6. 8 % in the same period, significantly growing. Apple, which opened a data center in northern Nevada in 2012, announced earlier this month that it will invest more dollars in the Reno Technology Park data center. The company plans to purchase a warehouse in Reno's center to support data center operations. The news is based on the announcement of Apple earlier this year, expanding the 20 0-megawatt solar power generation business for data centers. This lon g-term investment by Apple, one of the world's largest and most successful technologies, can help other hig h-tech companies aiming to expand and strengthen their businesses.

In Nevada, the positive new tendency in the domestic market is remarkable, and in some cases, silver industries have surpassed domestic trends. In the southern part of Nevada, the number of new housing constructed for 12 months until February 2017 increased by 17 and 3 % to 8. 198, the highest in the past eight years. In addition, the latest results continued to grow two digits for new housing sales activities for 19 consecutive months. With the increase in sales, the prices of new housing have been strong. The average term for new housing in southern Nevada in February was $ 329. 992, an annual growth rate of 4. 8 %.

In the northern part of Nevada, the new construction market has continued to rise for the past year, but has shown signs of deceleration. For 12 months until February 2017, the number of newly built houses in Washo County reached 1, 535, an increase of 3, 2%yea r-o n-year. The average price of newly built houses has continued to increase, but the pace is slow. Looking at the 1 2-month average, the average of the newly built houses in February 2017 increased by 10, 1 %, to $ 387. 085, and has grown two digits for 10 consecutive months. In Nevada, the positive new tendency in the domestic market is remarkable, and in some cases, silver industries have surpassed domestic trends. In the southern part of Nevada, the number of new housing constructed for 12 months until February 2017 increased by 17 and 3 % to 8. 198, the highest in the past eight years. In addition, the latest results continued to grow two digits for new housing sales activities for 19 consecutive months. With the increase in sales, the prices of new housing have been strong. The average term for new housing in southern Nevada in February was $ 329. 992, an annual growth rate of 4. 8 %.

Construction companies in southern Nevada are responding to an increase in demand through additional investment in inventory. According to Salestraq, the number of new housing permits in the Las Vegas area for 12 months until February 2017 has increased 12, 1 % since 2008. However, on the last 12 months base, it recorded 0. 5 % in February 2017.

The expansion of housing construction activities, combined with a wide range of construction activities associated with the strengthening of the Nevada state economy, has gained great profits to the state's construction department. The industry was devastating to a catastrophic hit during the previous economy and lost more than 100. 000 employment in the state. In February 2012, it was 47. 600 in February 2012, but it increased by 30. 500 in five years, reaching 78. 100 in February 2017. We reached 100 people. The 5. 600 construction employment, which increased between February 2016 and February 2017, is equivalent to a 7. 7 % growth rate. The growth of construction employment in southern Nevada (up 7. 7 %) and northern Nevada (up 10. 5 %) indicates that the growth of the entire state is distributed into both major metropolitan areas in the state. 。 In response, the number of construction employees in the United States increased by 3. 3 %.

Nevada's economic fundamentals continue to be strong and the demand for new housing is bright for the time being, as the population has been growing. In February 2017, the number of employees nationwide increased by 3, 1 % yea r-o n-year to 1. 3 million, an average weekly salary increased by 1 to 7 % in the same period. The expansion of employment opportunities is an important driving force for the growing population of the state, which was second in the United States with a 2, 0 % growth rate in 2016. In the southern part of Nevada, a limited number of housing supply, an average of 2, 4 months, has contributed to the stability of housing prices. However, it is important to pay more attention to more widespread factors, such as an increase in interest rates and the strength of the domestic economic situation.

Casino resorts in Nevada have enriched amenities other than gaming, such as restaurants, entertainment, and shopping, so visitors' consumption is increasing year by year, and gaming income is smaller. Since the early 2000s, gaming income in no n-restricted casinos has decreased from half of all income to 43%in 2016, and in Las Vegas Strip facilities, the percentage of gaming income is about on e-third of all income. It has decreased to to Although the ratio of gaming income to the resort industry's revenue is decreasing, it is still an important source of income and contributing to the general financial resources of the state. The expansion of housing construction activities has gained great profits to the state's construction department, combined with a wide range of construction activities associated with the strengthening of the Nevada economy. The industry was devastating to a catastrophic hit during the previous economy and lost more than 100. 000 employment in the state. In February 2012, it was 47. 600 in February 2012, but it increased by 30. 500 in five years, reaching 78. 100 in February 2017. We reached 100 people. The 5. 600 construction employment, which increased between February 2016 and February 2017, is equivalent to a 7. 7 % growth rate. The growth of construction employment in southern Nevada (up 7. 7 %) and northern Nevada (up 10. 5 %) indicates that the growth of the entire state is distributed into both major metropolitan areas in the state. 。 In response, the number of construction employees in the United States increased by 3. 3 %.

Casino resorts in Nevada have enriched amenities other than gaming, such as restaurants, entertainment, and shopping, so visitors' consumption is increasing year by year, and gaming income is smaller. Since the early 2000s, gaming income in no n-restricted casinos has decreased from half of all income to 43%in 2016, and in Las Vegas Strip facilities, the percentage of gaming income is about on e-third of all income. It has decreased to to Although the ratio of gaming income to the resort industry's revenue is decreasing, it is still an important source of income and contributing to the general financial resources of the state. The expansion of housing construction activities, combined with a wide range of construction activities associated with the strengthening of the Nevada state economy, has gained great profits to the state's construction department. The industry was devastating to a catastrophic hit during the previous economy and lost more than 100. 000 employment in the state. In February 2012, it was 47. 600 in February 2012, but it increased by 30. 500 in five years, reaching 78. 100 in February 2017. We reached 100 people. The 5. 600 construction employment, which increased between February 2016 and February 2017, is equivalent to a 7. 7 % growth rate. The growth of construction employment in southern Nevada (up 7. 7 %) and northern Nevada (up 10. 5 %) indicates that the growth of the entire state is distributed into both major metropolitan areas in the state. 。 In response, the number of construction employees in the United States increased by 3. 3 %.

Given the continuous importance of gaming income in the state, the recent growth trend is a welcome news for both gaming companies and Nevada budgets. The 1 2-month state gaming revenue, which showed a flat growth in 2015 and early 2016, ended in 2016 with a plus growth compared to the seventh consecutive month. The positive trend continued until January 2017 (the latest available data), and the 1 2-month gaming revenue increased by 2. 5 % to $ 11. 4 billion. This month's growth rate was the second time since August 2014, when the annual growth rate was 2, 0 %. Despite the recent positive trends, the 1 2-month 1 2-month income of the 1 2-month games is greatly below the $ 13 billion of the peak recorded in late 2007.

The entire state is affected by the gaming income of the Las Vegas Strip facility, which accounts for more than half of Nevada's gaming. In January 2017, the strip property of the strip property increased to $ 6. 5 billion, with a growth rate of 2. 4 %, the best in any month since October 2014. Similarly, as in the state of the state as a whole, the 1 2-month gaming revenue of the Strip Properties recorded the growth compared to the previous year after the negative growth for 16 consecutive months.

Other areas in Nevada have recorded a stronger increase in gaming income. In downtown Las Vegas, the gaming income for 12 months in January 2017 increased by 6, 0 % to $ 578, $ 1 million, and the gaming revenue of Northus Vegas increased 2, 7 % to 281, 2. It was a million dollar. In the Wash o-gun, the total gaming income in the same period was 3, 9 %, up to 850, and 5 million dollars.

There is a casino game that has a major impact on the trends of the overall gaming income in the past decade. This game, which is popular with hig h-priced gamblers, accounts for about 11 % of the gaming revenue in Jeonju, about 10 years ago. Baccarat sales have tended to fluctuate, and in the past three years, it has repeated two digits and tw o-digit drops a year. During the growing period of 2013 and 2014, Baccarat supported most of the growth of the overall gaming income, but all other gaming income sources were flat. This trend has since reversed, and the baccarat revenue for 12 months has recorded a negative growth rate in 24 months out of the past 26 months.

In contrast, the gaming income excluding the baccarat has been recorded for 24 consecutive months, and the 15 months have reported a growth rate of at least 2, 0 %. Baccarat income reported a positive growth rate of 1, 9 %in January 2017, which was a month of positive growth for the first time in about two years, but the growth of gaming income in the past two years. The part is brought by a source of income other than gaming.

Gaming profits other than Baccarat suggests the expansion of gaming activities throughout the state and the improvement of Nevada and the US economic fundamentals. In the state, the seasonal adjusted unemployment rate in January 2017 decreased to 5. 0%, the lowest level in the past 10 years. On the other hand, the average weekly wage during the same period was $ 775, up 4, 8 %. In the United States, the seasonal adjustment unemployment rate in February 2017 decreased to 4, 7 %, which was 0 and 2 %, with a lower rate of 0, 2 % points lower, and average weekly wages rose 2 or 5 % yea r-o n-year to $ 898. These trends contributed to records of 42. 9 million visitors in 2016, and combined with the positive growth trend of gaming income, continuously on economic activity in the leisure and hospitality category, which is the lifebleness of Nevada. It suggests an expansion.

It was clear that Nevada's economic situation last year was good in the housing market, as some major indicators had risen. In particular, major indicators such as price rise, housing sales activities, and no n-established sales showed remarkable growth, and the state has entered a new time when housing demand has increased, and the stable housing market has been restored.

According to the latest data from the Federal Housing Financial Services Agency, Nevada's housing prices have grown positively compared to the same period of the previous year, and the housing index in the third quarter of 2016 increased by 7. 8 %. The growth of the previous year has contributed to the increase in the median housing price in Nevada. In contrast, the gaming income excluding Baccarat has been recorded an annual growth rate for 24 consecutive months, of which 15 months has reported at least 2, 0 %. Baccarat income reported a positive growth rate of 1, 9 %in January 2017, which was a month of positive growth for the first time in about two years, but the growth of gaming income in the past two years. The part is brought by a source of income other than gaming.

According to the latest data from the Federal Housing Financial Services Agency, Nevada's housing prices have grown positively compared to the same period of the previous year, and the housing index in the third quarter of 2016 increased by 7. 8 %. The growth of the previous year has contributed to the increase in the median housing price in Nevada. In contrast, the gaming income excluding the baccarat has been recorded for 24 consecutive months, and the 15 months have reported a growth rate of at least 2, 0 %. Baccarat income reported a positive growth rate of 1, 9 %in January 2017, which was a month of positive growth for the first time in about two years, but the growth of gaming income in the past two years. The part is brought by a source of income other than gaming.

Is Nevada's economy experiencing a new normal?

By region, it was almost the same in southern and northern Nevada. In the Las Vegas district, the median secon d-hand housing price in December rose 7. 4 % yea r-o n-year, $ 202. 000. In the northern part, the median used housing price in the third quarter of 2016 was 8. This growth dropped significantly from 15, 7%of the previous year, but slightly higher than 7, 9%of national housing prices. Maintained.

The new housing price in the state also showed a strong growth. In the Las Vegas area, the median new housing prices in 2016 rose by 9, 0 %, 340. The median in 2016 rose 3. 9 %, one of the rising 15. 0 %of the previous year. there were.

With the strong rise in housing prices, the number of housing owners 'owners' equity has increased, and the number of mortgages underwater repayment has decreased. According to the real estate investigation company Coalogic, the average rate of rises in Nevada's average housing price 16. The average rate of housing prices in Nevada is 16. In the third quarter of 2016 (latest), many mortgages have caused many mortgages. Returned the capital to a positive, and the ratio of mortgages under the water fell from 19. 0 % to 14. 2 % in one year.

Housing sales in southern Nevada gained momentum until the end of the year. In Las Vegas, the number of used houses in 2016 increased 6. 6 % yea r-o n-year to 46. 911, which was sold annually since 2013. In 2016, the number of new houses in Las Vegas increased 14. 2 % yea r-o n-year to 7. 934, which was sold annually since 2008.

Nevada economic indicators show improvement in 2013

If you look in detail the number of residents of resale houses, you can see that most of the sales are currently no n-distributed (bad claims). According to Salestraq, the ratio of Distress Sales in South Nevada's total sales was 72. 8 % in 2011. In the past five years, the ratio of distress sales in the area has decreased to 12. 3 %. By region, it was almost the same in the southern and northern part of Nevada. In the Las Vegas district, the median secon d-hand housing price in December rose 7. 4 % yea r-o n-year, $ 202. 000. In the northern part, the median used housing price in the third quarter of 2016 was 8. This growth dropped significantly from 15, 7%of the previous year, but slightly higher than 7, 9%of national housing prices. Maintained.

If you look in detail the number of residents of resale houses, you can see that most of the sales are currently no n-distributed (bad claims). According to Salestraq, the ratio of Distress Sales in South Nevada's total sales was 72. 8 % in 2011. In the past five years, the ratio of distress sales in the area has decreased to 12. 3 %. By region, it was almost the same in southern and northern Nevada. In the Las Vegas district, the median secon d-hand housing price in December rose 7. 4 % yea r-o n-year, $ 202. 000. In the northern part, the median used housing price in the third quarter of 2016 was 8. This growth dropped significantly from 15, 7%of the previous year, but slightly higher than 7, 9%of national housing prices. Maintained.

Monetary policies benefiting states like Nevada

In recent years, Nevada's economic growth has been less than impressive as the state has recovered from the recession. The housing market has made its own impressive recovery and is now in a period of stable growth in both prices and sales volume. Overall trends in the economy, particularly employment, wage and population growth, suggest that demand for housing will continue.

The leisure and hospitality industry is Nevada's most important industry, directly employing one in four statewide workers and generating nearly 20% of all employee wages. Given that tourism is crucial to the health of the state's economy, 2016 was a positive year of growth and stability for the tourism industry and the Nevada economy as a whole.

Las Vegas saw 42. 9 million visitors, up from 42. 3 million in 2015, an increase of about 600, 000 for the region. Overall visitation to Las Vegas received a major boost from the convention sector, which set a new record, breaking the previous record of 6. 2 million visitors in 2007. The increase in convention attendance coincides with a healthy increase in the number of conventions held. In the 12 months ending in November 2016 (the most recent data available), 22, 130 trade shows were held in Las Vegas, up 6. 0% from the previous year.

Elim Poon - Journalist, Creative Writer

Last modified: 27.08.2024

Our speakers will discuss important topics that determine the future of our economy, such as short and long-run growth, inflation, fiscal consolidation. PHILIPPINE ECONOMIC BRIEFING. 27 May Reception Hall, Philippine International Convention Center. Pasay City. Theme: PH On-the-Go: Fast-Tracking. The monthly economic update analyses the main trends and events arising each month, both in the local economy and also any national or global economic events.

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