“A recent report from the Centers for Disease Control and Prevention reveals that birth rates in the United States have dropped significantly. And as Adriana Arévalo explains to us, analysts warn about the economic consequences.”
News Archives | Page 9 of 15 | Center for Business and Economic Research
Taxable sales increase in Clark County, but not everywhere
“It’s not surprising that Nevada would see a boost in taxable sales, even if a majority of its counties see a decline, because of the out-sized economic impact of Clark County, according to Stephen Miller, research director at UNLV’s Center for Business and Economic Research. He estimates Clark County makes up 75 percent of the state’s economy and the March taxable sales report shows Clark County made up 72.8 percent of taxable sales in Nevada.”
UNLV Study Showcases Thriving Sports Economy in Las Vegas
“A new study done by UNLV Center for Business and Economic Research, plus UNLV Sports Innovation shows just how big of an impact sports teams have already had in Las Vegas.”
“Researchers estimate that sports in the valley generated $1.8 billion in economic activity from out-of-town visitors in 2022 alone.”
1,800 Las Vegas hotel jobs unfilled, employers competing with new-hire incentives
1,800 Las Vegas hotel jobs unfilled
“For every six workers, we got 10 jobs out there open,” Miller said during a virtual interview Monday afternoon. “Workers have gotten more power in the labor market, which means the employers have to become more innovative in terms of tracking employees.”
UNLV Researchers Explore Thriving Las Vegas Sports Economy
Thriving Las Vegas Sports Economy
“One in four of our workers and nearly thirty percent of our real GDP is tied to recreation services. The linkages between the two industries are real,” said Andrew Woods, director of CBER and one of the authors of the white paper. “If sporting activity drives new businesses, new jobs, especially full-time skilled jobs, and improves the economic and cultural well-being for residents and their families, then it’s no doubt a positive effect on the Las Vegas economy.”
Unemployment rate reveals Nevada’s workforce paradox
Is there a paradox between the unemployment and workforce rate in Nevada?
In April, Nevada had the highest unemployment rate nationwide at 5.4%, but at the same time, we had the largest percent increase in employment at 4.2%. Dr. Miller weighed in on the subject in a Vegas Inc. article where he emphasized, “…that that seemingly contradictory unemployment and job growth rates are not abnormal, and in fact, the bigger story might be a shortage of labor. There are many more open jobs than people looking for work”. Dr. Miller further discusses excessive savings and the current state of the labor market and that this unusual situation is a direct effect and result of the pandemic.
Professional sports industry brought infrastructure concerns, over $1.8 billion in spending to Las Vegas Valley
What impact has the professional sports industry made in Southern Nevada?
The question was posed in an 8 News Now Report, highlighting the Sport & Society Conference and CBER’s director, Andrew Woods. Rather than discussing the boom in the sports industry, Woods called attention to the valley’s needs and demands, such as our transportation. UNLV research forecasts roughly 700,000 new residents by 2040 and 50 million people in annual tourism. With this increased population forecast, we need to exclusively address mass transit needs.
The Southern Nevada Economy: What’s Ahead?
With rising interest rates by the Federal Reserve, there have been concerns about this leading Southern Nevada into a possible recession. CBER’s director, Andrew Woods was recently featured on the show Nevada Week that aired on Vegas PBS. The segment discusses the idea and thoughts of another possible recession and highlights the topic of average consumer spending in Nevada, and our state’s current housing market.
https://video.vegaspbs.org/video/the-southern-nevada-economy-whats-ahead-culrxl/
Experts discuss prospects for Nevada economy through 2023
There are projections of a looming national recession and yet Andrew Woods of UNLV’s Center for Business and Economic Research projects that Clark County’s population is projected to grow this year by 52,000 people. Woods told Nevada Public Radio State of Nevada Host Joe Schoenmann today that 2022 was a story about the resiliency of the American consumer, and 2023 will be judged based on the resiliency of American business.
‘Tip creep’: notice a rise in requests at the register? Experts weigh in why
“Worker trends haven’t changed,” Miller said. “The problem is not so much tipping– it’s inflation,” Miller said, noting that businesses may lower base pay to cut overhead, and expect consumers to tip. Miller said studies show that Americans will tip as a cultural norm, no matter the level of service.
https://www.fox5vegas.com/2023/03/01/tip-creep-notice-rise-requests-register-experts-weigh-why/