Andrew Woods, director at UNLV’s Center for Business and Economic Research, said wage inflation is also a major area of rising costs for business owners. Workers — who were in short supply immediately after the pandemic — now have higher expectations for their wages, meaning some employers will have to keep up.

Between January 2021 and September 2024, Nevada wages rose on average, $10,166 after inflation, according to a U.S. Joint Economic Committee Report from Senate Democrats.