Sun Coverage
A UNLV index suggests Southern Nevada’s employment could begin to rise by the second half of 2011 because of gains in travel and tourism.
The Southern Nevada Index of Leading Economic Indicators grew by 1.02 percent in January compared to December and by 0.99 percent compared to January 2010, according to the Center for Business and Economic Research.
The increase, driven by gains in travel and tourism, is one of the highest increases in the 30-year history of the series, said Bob Potts, the center’s assistant director.
The index provides a forecast through July and is counted on as a predicator of job growth. Officials said, however, it takes more than one month to determine if any increase is a trend.
The index, which measures data in January, showed convention attendance was up 296 percent; visitor volume up 8.37 percent and gross gaming revenue rose 3.76 percent. Passengers traveling through McCarran International Airport rose 2.65 percent.
There were negatives, however, as retail sales slumped 17.56 percent, residential construction fell 7.8 percent and commercial construction fell 81.2 percent.