Strong economic growth but high unemployment: a look at Nevada’s economy

In tourism-dependent Nevada, the unemployment rate rocketed even higher, topping out at 30.6% that month. The Las Vegas metro area, which was the hardest hit in the entire nation, saw its jobless rate soar to 34%.

“If you look at all the economic indicators, like gaming revenue and visitor volume and hotel occupancy rates, they dropped off a cliff,” said Stephen M. Miller, a professor of economics at the University of Nevada, Las Vegas.

Miller, who also serves at the director of research for the Lee Business School’s Center for Business and Economic Research, added, “Because the casinos were closed, people were out of work, and if they had that extra [stimulus and unemployment] money coming in, they were not spending it and were saving it.”

He added: “They didn’t take the first job that came along, but it took a little extra time to search for a job or looking to embark on a new career ladder.”

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