Public Comment: (669) 900-6833
Meeting ID: 985 1351 2645 then press #
Nevada's Economy By the Numbers
97.3
decline in tourism
During the Great Recession, Nevada lost approximately 180,000 jobs over nearly three years. During the COVID-19 crisis, Nevada lost more than 250,000 jobs in the past three months. Following the events of September 11, 2001, Las Vegas visitor volume reported a peak decline of 12.4 percent. As a result of COVID-19 closures, visitor volume was off 97.3 percent in April 2020
434,388
unemployment claiMs (3/21 -5/9)
The number of claims filed between March 21 and May 9 is unprecedented. For reference, during the 2009 recession (1/10-2/28) 62,700 claims were filed. In December 2019, the unemployment rate was roughly 4.1 percent—the State’s historical low. May 2020 jobs numbers show that Nevada’s unemployment rate is now 25.3 percent. For comparison
1.2 Billion
Projected budget shortfall
Revenue projections developed jointly by the Legislative Counsel Bureau’s (LCB) Fiscal Analysis Division and the Governor's Finance Office currently reflect a total estimated General Fund shortfall of approximately $1.2 billion in FY 2020-21.
