Las Vegas is among a host of major metropolitan areas dealing with a growing problem: concentrated poverty. Defined by neighborhoods with at least 40 percent of residents living below the poverty line, poverty concentration is arguably a far more important economic statistic than.....
The 12-month moving average (12MMA) of the Reno-Sparks headline unemployment rate dropped to 6.1% in February, inflation-adjusted wages are now at their highest ever recorded levels, and February marked 58 consecutive months with rising retail sales on a year-over-year (YOY) basis. The Reno-Sparks MSA has now seen 12 straight months of YOY visitation growth, and Washoe County 12MMA Y-O-Y gross gaming revenue saw growth in February of 2.9% which represents the 14th consecutive month of improvement.
The average price per gallon for regular unleaded gasoline in the Las Vegas MSA shot up by $0.50 per gallon, or 25.6%, between February 29 and March 30, but it is the only Southern Nevada economic metric not trending positively. Clark County’s headline unemployment rate was down 0.9 percentage-points in February compared to a year ago.
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