Check out the latest research and news articles from our blog on economic issues facing Nevada and the wider Southwest.
The Nevada Governor’s Office of Economic Development released the state’s post-pandemic economic plan, prepared by SRI International. RCG Economics was fortunate to participate in the study, along with Brookings Mountain West. As part of this release, RCG is making available both the full SRI report as well as the more detailed version of our economic forecast. Click here to see both reports. RCG forecasted economic conditions in Nevada through the end of 2021. In its full Economic Forecast, RCG projected a wide range of indicators for the state, the Las Vegas MSA and the Reno-Sparks MSA. They include: Aggregate GDP GDP of selected sectors Taxable sales Nonfarm jobs Unemployment rate Visitor volume A variety of tax revenue sources Other indicators RCG found that: It will likely take, at a minimum, until the end of 2022 for Nevada’s economy to return to its pre-pandemic long-term growth trend The pandemic will inalterably change the structure of the state’s economy Nevada, and especially Southern Nevada, should embrace these changes To reduce the chances of another economic disaster: Nevada must move aggressively toward a state economy that Is much more resilient than it is today, [...]