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What happens in Las Vegas matters on a national scale because it often reflects larger trends, according to Andrew Woods, the director of the Center for Business and Economic Research at the University of Nevada, Las Vegas.
“It tends to be a signal for potentially where the economy’s headed,” he said.
The Las Vegas Strip is seen looking south from Flamingo Road in this March 24, 2023, photo. The next president won’t immediately affect the path of gaming and tourism in Las Vegas, said Andrew Woods, an economist and director of the Center for Business and Economic Research at UNLV.
Despite a strong June jobs report from the Bureau of Labor Statistics, Stephen Miller, professor and research director at UNLV’s Center for Business and Economic Research, said the U.S. job market is beginning to soften.
“It’s softening slowly,” Miller said. “It’s slowing down, but it’s still very positive.”
With the nationwide unemployment rate slowly increasing, the average duration of unemployment is doing the same. It increased from 20.7 weeks in June 2024 to 23 weeks in June 2025. Though comparable data is not readily available for Nevada, it suggests an increased difficulty in finding suitable work.
Tourism and gambling have powered Las Vegas for decades — but with a historic decline in visitors and the uncertainty of a global trade war, many locals are starting to feel uneasy, even reminded of the 2008 recession. So how bad is it really, and what’s being done to protect the city’s future? Co-host Dayvid Figler talks with Shani Coleman from Clark County’s Office of Community and Economic Development and Andrew Woods from UNLV’s Center for Business and Economic Research about where things stand and how Las Vegas is trying to build a more resilient and diverse economy.
Not everything that happens in Vegas stays in Vegas.
Especially when the world-renowned entertainment capital is experiencing some bumps in the road.
According to a recent report led by Stephen Miller, a professor of economics and research director at UNLV’s Center for Business and Economic Research, the outlook for Las Vegas’ gaming and tourism sectors through the end of 2025 and into 2026 isn’t as glitzy as one might hope.
Let’s break down what’s happening and what’s being done about it.
An economist at the University of Nevada Las Vegas expressed concern about Las Vegas gaming and tourism for the rest of the year and the start of 2026.
Stephen Miller and the Center for Business and Economic Research (CBER) released a mid-year report this week, discussing the year-to-date decline in visitation (6.5%) and gaming revenue (1.1%) on the Strip. The report noted that the national economy faces a slowdown and uncertainty in the next six to 18 months over tariffs and the business climate that could exacerbate both.
CBER’s most recent Tourism Index for Southern Nevada declined 2.1 percent month over month and 2.2 percent year over year.
Economics professor and research director for the Center for Business & Economic Research at UNLV, Stephen Miller, says he saw the increases in inflation coming.
“Well, I didn’t find it all surprising. At some point, this tariff tango that’s been going on for months is going to have its effect on prices,” Miller said.
Miller believes the inflation increase is just getting started.
“You know, I expect it to go up. I don’t know how much, probably maybe 3-4% for a few months,” he told me.
Inflation impacts everything, but just as a reminder, the 2.7% figure represents the average price increase from June 2024 to June 2025 for all products, including food, gas, rent, apparel and more. This means some items rose more than 2.7% and others even decreased in price.
Expected migration to Southern Nevada will largely offset the consequences of declines in natural population growth, said Stephen Miller, an economics professor at UNLV and research director for the Center for Business and Economic Research.
Miller points to a population forecast predicting Clark County’s population to surpass 3 million people by 2060. However, how the state collects tax revenue is still a problem, he said.
“Even though we’re growing fast and revenues are increasing, the revenue structure isn’t keeping up,” Miller said. “The growth in revenues was slower than the growth in population.”
LAS VEGAS (KLAS) — Clark County is growing and fast. According to new projections from the Center for Business and Economic Research (CBER) at UNLV, the county is expected to reach a population of 3 million residents by the year 2045.
That growth, fueled by a post-pandemic rebound, is being driven by migration from neighboring states and abroad, continuing a long-standing trend that’s shaping Southern Nevada’s future.
The region’s upward trajectory reflects more than just numbers. The demographic shifts reveal a story of change, opportunity, and critical planning for the decades ahead.
“From a historical standpoint, we’ve added closer to a million more people since 2000 to Southern Nevada, and yet they have reduced water consumption overall by 26%,” CBER Director Andrew Woods said Friday.
Professor and Research Director for the UNLV Center for Business & Economic Research Stephen Miller believes economic uncertainty is spilling over into all industries, not just real estate.
“The word of the day is pause, uncertainty and pausing, waiting for more information,” said Miller.