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Nevada's economy has fared worse than all other states since great recession

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Updated: 7/02/2014 5:20 pm
LAS VEGAS (KSNV MyNews3) -- Nevada’s economy has fared the worst of all 50 states since 2007 – a year before the start of the great recession.

Nevada has 6 percent fewer jobs than it did in December of that year. Arizona, also slammed by the housing collapse, saw its jobs market collapse by 5 percent.

The U.S. economy has since recovered the 9 million jobs that vanished in the nation’s worst economic downtown since the 1930s. Another month of solid hiring is expected in the U.S. Jobs report that is set to be released Thursday.

North Dakota has led U.S. job growth since 2007 with a 28 percent increase. The boost was caused by oil-shale production in the state.
On the upside, new jobs cut Nevada’s statewide unemployment rate to 8 percent in April. The leisure and hospitality sector drove the growth followed by retail hiring.

Nevada’s unemployment rate hit nearly 15 percent during the height of the recession – with the loss of tens of thousands of good-paying construction jobs that have yet to return.



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