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%.
At the same time, inflation is down, consumer spending and confidence are up, and Nevada’s employment growth is second only to Idaho’s.
But politicians paint different pictures of what’s happening. Presidential candidate Donald Trump says everything is going wrong economically. President Joe Biden says the country is booming.
Who’s right?
Guests: Michael Lyle, reporter, Nevada Current; Maurice Page, executive director, Nevada Housing Coalition; Stephen Miller, professor of economics, UNLV’s Center for Business and Economic Research
