News Archives | Page 4 of 11 | Center for Business and Economic Research

Nevada Bankers Association Hosting 2nd Annual Credit & Lenders Conference Oct. 18

“Lending professionals from across the state will hear from experts and strategists and experience interactive sessions and networking opportunities. Conference topics include what Nevada’s economic forecast indicates, artificial intelligence and banking, what regulators are focusing on, how the Nevada real estate market is trending, how banks are planning for potential downturns, what business bank customers prioritize in a banking relationship, and what keeps Nevada’s banking executives up at night.”

“Top-level speakers scheduled to present at the conference include Darwin Hopwood, UNLV Department of Finance and SBA counselor; Angela Kramer, RSM US LLP; Matthew Lubawy, Valbridge Property Advisors; Joel Mueller, Barlow Research; Steve Yoken, Snell & Willmer; and Andrew Woods, UNLV Center For Business Economic Research.”

Read the Full Story

Thousands of Jobs Vacant at Las Vegas Hotels

“For every six workers, we got 10 jobs out there open,” Stephen Miller, director of research for UNLV’s Center for Business and Economic Research, told the news outlet in a June 2023 interview. “The basic one: pay them more. But benefits, a more pleasant work environment — all those things count now more than they did before.”

Read the Full Story

What Steps Is Nevada Taking to Develop Its Economy?

Andrew Woods: [When we forecast the economy] it doesn’t look like there is going to be enough economic diversification in the next 18 years. What happens if we make huge investments in some of these areas that have a lot of spin-offs [such as] manufacturing and healthcare? Those are the two that have a lot of spin-offs in terms of jobs being produced. If we did that seriously and we still let leisure and hospitality grow the way it is supposed to even with automation, AI, technology and sports, we can move the needle significantly.”

Read the Full Story

Competition for Las Vegas hospitality employees

“For every six workers, we got 10 jobs out there open,” Miller said during a virtual June 2023 interview with 8 News Now. “The basic one: pay them more. But benefits, a more pleasant work environment – all those things count now more than they did before.”

Miller also indicates that the extra unemployment compensation delivered during part of the COVID-19 pandemic has given some a comfort to not return to jobs they do not want to work. Many are looking for positions that offer ample PTO, abilities for certain off days and work life quality improvements.”

Read the Full Story

Is Las Vegas finally ready to become an industrial powerhouse?

“Additionally, roughly 115 people are moving to Clark County every day, according to a new report from UNLV’s Center for Business and Economic Research. The county is expected to gain 42,066 residents this year alone. Andrew Woods, the center’s director, contends that Nevada’s future workforce is largely going to be coming from outside of the state. Las Vegas is competing with other secondary U.S. cities, including Phoenix, Salt Lake City, Denver and Austin, to lure highly skilled workers, he said. This will be the challenge for Apex as it competes nationally with other cities’ growing industrial sectors.”

Read the Full Story

Can enough apartments be constructed to solve Las Vegas’ housing woes?

“UNLV’s Center for Business and Economic Research projects the valley will continue to grow year over year for the foreseeable future, adding 42,066 residents in 2023 alone. And National Low Income Housing Coalition estimates the valley is already short close to 84,000 low-income rental units, a number that has been steadily rising the past few years.”

Read the Full Story

Vegas No. 1 for homeowners looking to move, report says

“New population estimates from UNLV’s Center for Business and Economic Research show that 115 people are moving to Clark County every day. In fact, the county is expected to gain 42,066 residents this year. This would be the biggest population surge the county has seen since 2020, when 50,885 people were added to the population, according to the UNLV report, which also projects Clark County could welcome 56,000 new residents in 2026. Andrew Woods, director of the UNLV center, said Redfin’s analysis of the Las Vegas Valley as a top place to move is in line with what he is seeing for the area right now.”

Read the Full Story

Las Vegas is growing, but still has water and housing issues to face

“We’ve been running the forecast, since about 1997; we do this on behalf of the water authority and for Calrk County. We’re looking on behalf of the Water Authority and Clark County. You know, when we’re looking at these numbers, we’re looking at factors. So yeah, land and water is one of those factors. Also, we look at jobs, the portability, and then the types we do this, and forecast and why we’re forecasting that we’ll hit around 3 million people. Right now, at by 2050, but that number’s bumped around last year; it was by 2040. The reason why we do that our water authority, any authority in local government and at the state can basically get ahead of the population growth and build out. Infrastructure, policy. Make sure that we can save, in this case, reduce water usage and continue to support a growing population in the growing visitor population.”

Listen to the Full Story

Clark County continues to face challenges with housing demand

“One notable demographic shift in Clark County is the increase in high-income, college-educated workers relocating to the area. This trend began during the COVID-19 pandemic, Quoting Andrew Woods, the director of UNLV’s Center for Business and Economic Research and an author of the annual report on population estimates for the county. Woods explains that college-educated workers now make up a significant portion of the county’s new residents, with a 5 percent increase from pre-pandemic numbers.”

Read the Full Story