Nevada’s economy is recovering in October as the unemployment rate is down by 5.1% from last month’s rate. With the reopening of many business establishments following months of temporary closure, many people have regained their jobs. The business sector of Nevada is slowly but surely on the mend.
Employment is up again by 0.9%, with now 929,000 workers in the workforce, from the 1% or 921,000 last September. Visitor volume continued to ramp‐up in October as the destination hosted approx. 1.86M visitors, about half of last October’s tally but up 9% from last month.
With continued hotel re‐openings at the end of September and early October, the room tally of available properties in October represented 140,658 rooms. Total occupancy was 46.9% for the month as weekend occupancy reached 64.2%, and midweek occupancy reached 38.6%. Las Vegas has been continuously pushing for a return to normalcy, and these current results are a positive sign in getting the city back to business.