The state Department of Employment, Training and Rehabilitation has reported that the unemployment rate for the state has dropped to 13.2% while Clark County dropped to 13.3%. This was the first year-over-year increase in 38 months. While the unemployment rate remains elevated, at least this rate drop was due to evidence of job creation rather than a disapearance of individuals in the labor force. March was merely one month but after such a long period of weakness, any encouragement has been taken with open arms.
In additional news, it does look like the recovery in visitor volume and gaming revenue has continued. The next unknown is how fuel prices may alter this picture. This is an exogenous component that we will continue to monitor.
On a final note, after a weekend of being both in the local mountains and in some very nice urban settings, its easy to be reminded of why people make this area their home. Spring is really nice in Southern Nevada.