The current GDP rating of Las Vegas posted an 8.6% drop from last year. While there is a decline, the state’s economy is as vibrant as ever, as shown in the 31.9% increase in Convention Attendance. According to the Las Vegas Convention and Visitors Authority (LVCVA), small and mid-size meetings and rotation cycles of large shows still brought people to Las Vegas, despite the slight decline in the total number of tourists who visited Las Vegas. This effectively decreased the unemployment rate in Las Vegas to 4.3%.
The US economy’s addition of 136,000 jobs in September allowed the country to record a five-decade low unemployment rate of 3.5%.
The Las Vegas Sun reported, “The additional hiring and the drop in the jobless rate will likely ease worries that an economy weakened by the U.S.-China trade war and by slower global growth might be edging toward a potential recession.”