Report: Nevada economy tied to other states
LAS VEGAS (AP) – University of Nevada, Las Vegas, economists say the nation’s economic recovery won’t lift Nevada from its fiscal slump until at least 2012.
A report presented Wednesday during a semiannual economic forecast at the M hotel and casino in Las Vegas said gambling and tourism revenue will grow as more people are able to travel to Nevada.
But it cautioned that housing and commercial real estate will take longer to rebound.
The Las Vegas Sun reports that the UNLV Center for Business and Economics Research is projecting the statewide jobless rate of 14.1 percent will drop to 13.2 percent by the end of 2011.
The rate is expected to remain above 12.6 percent through the end 2012.
The reports says Nevada won’t see significant growth if the recovery stalls in other states.