Las Vegas has shown some improvement in its unemployment rate over recent months, although it still ranks among the highest for large metropolitan areas in the U.S. According to the U.S. Bureau of Labor Statistics, Las Vegas reported a jobless rate of 5.2 percent last month, compared to the national average of 3.9 percent. This marks a decrease from 6.4 percent last summer. However, among metro areas with populations over 1 million, only Fresno, California, had a higher unemployment rate at 8.3 percent.
The current unemployment rate in Las Vegas is still higher than it was before the pandemic, when it was 4.3 percent in February 2020. The city’s economy, heavily reliant on tourism, has not fully recovered in terms of visitor numbers. Through March this year, about 9.7 million people visited Las Vegas, a 7 percent decline from the same period last year, as reported by the Las Vegas Convention and Visitors Authority.
On a national scale, economic conditions have been volatile, with concerns over tariffs and potential recession affecting business sentiment. Recent Federal Reserve discussions highlighted increased risks of inflation and unemployment. In Southern Nevada, business confidence has reached a 16-year low, as reported by UNLV’s Center for Business and Economic Research. This reflects a broader decline in optimism about both national and local economic conditions.