VBD Weekly / APRIL 21 2023

APRIL 21 2022 / ISSUE NO. 72 / ARCHIVE

This Week's Top Stories

Nevada March Unemployment Rate at 5.5%, Unchanged from Previous Month

*A map of Nevada (KeithBinns from Getty Images Signature)*

According to the March 2023 report by Nevada Department of Employment, Training and Rehabilitation, the seasonally adjusted unemployment rate in Nevada was 5.5%, unchanged from previous month. The unadjusted unemployment rate decreased slightly, going from 5.7% to 5.4%.

This commentary is written by PNC Chief Economist Gus Faucher.

Economic conditions were unchanged in the early spring according to the Fed’s Beige Book.
The labor market continued to expand, but at a slower pace.
Inflation remained elevated but eased.
The early-March problems in the banking system weighed on credit and optimism.
The Beige Book supports PNC’s forecast for a mild recession starting later this year.

The A’s announced it has entered into a binding purchase agreement to purchase 49 acres of land in Las Vegas to build a new 35,000-seat, $1.5 billion ballpark, located across the freeway from the Las Vegas Strip.

*Heather Brown, Katy Evilsizor, and Mitch Keenan (Courtesy of LVGEA)*

Las Vegas Global Economic Alliance (LVGEA), one of the eight Regional Development Authorities (RDA) in Nevada designated by the Governor’s Office of Economic Development (GOED), announced three new hires: Senior Vice President of Entrepreneurial Development Heather Brown, Associate Vice President Business Development Mitch Keenan, and Executive Assistant and Board Liaison Katy Evilsizor.