Sin City, or Las Vegas, Nevada is known for many things. It is the number one gambling destination in the country. But now it is also known for one of the highest unemployment rates for a metropolitan district. Las Vegas unemployment is now at 13.1 percent. The Nevada state unemployment rate is 12.5 percent. This is the highest rate in 33 years of tracking these statistics.
According to the Las Vegas Review-Journal, the Las Vegas unemployment rate is more than double what it was just a short year ago. Many of the jobs, tens of thousands of them, were lost in construction and of course in the gambling and hospitality industries. The building bust disrupted the construction workers, forcing layoffs, while the general economic downturn, call it recession, is the reason for the drop off in tourists. Las Vegas runs on tourism, and when they stay away in droves the layoffs begin.
Nevada has initiated an aggressive campaign to lure businesses away from other states. California, its neighbor his especially the target. Employer costs in California are high, and Nevada is running commercials to spark interest. California has struck back with commercials of its own. California can’t afford to be losing any businesses, what with a 12.1% unemployment rate. Nevada, meanwhile isn’t seeing an outflow of its working population, so it is either lure new business or feed them off of public aid.
Meanwhile, roulette wheels gather dust and showgirls succumb to the onslaught of gravity as Sin City waits for business to pick back up. The conundrum being that the casino, hospitality and even the building business want recover from this lousy economy until business picks up elsewhere. Then people who are back to work and making money can once again make Las Vegas their destination site.
The irony of all this is that Las Vegas draws a good portion of its tourist trade, the high rolling weekenders, especially, from California. Which is from where Nevada is trying to lure business. Which would cause an even further recession in California. And if successful in luring businesses from California, that would mean fewer Californians would have the kind of money it takes to enjoy the Las Vegas playground. There is no justice. At least, not at the moment.
