Southern Nevada’s economy continued to expand in January 2018, but appears to be expanding at a slower rate than it did in 2017. Southern  Nevada  saw  improved  year-over-year  growth  this  year compared to last in the categories of taxable sales and construction jobs, but otherwise saw growth slow or turn negative. Naturally, 2018 has only just begun and various entertainment projects and the recent tax reform may prove stimulating as the year proceeds.

Unemployment in the Las Vegas-Paradise MSA stood at 5.4 percent as of January 2018, up from 5.1 percent in January 2017. Unemployment peaked in Southern Nevada at 14.0 percent in January 2011, and has been  generally  headed  down  ever  since.  The  area’s  previous  low unemployment was 3.7 percent in December 2005. The latest national unemployment figure was 4.1 percent in February 2018, down from 4.7 percent in February 2017. The national labor force participation rate improved to 63.0 percent in February 2018, even with the participation rate recorded in February 2017.