UNLV’s Dr. Stephen Miller Talks: Is the economy good or bad in Nevada? A look at cost of living, affordable housing
The pandemic hit Nevada hard, but it eventually eased and the state came back to life economically, just not as fast as the rest of the country.
Though our unemployment rate is one of the highest in the country, it’s still around 5%, which economists have long said amounts to full employment.
What’s hurting is inflation combined with a very low rate of wage growth.
The state reported in December that Nevada’s average hourly rate ranked 44th out of 50 states and the District of Columbia. And wage growth averaged just 1.3%, 49th in the country, and 16 states had wages with average wage growth above 5%.