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The U.S economy struggled through Q412 with GDP increasing by only 0.4% as cutbacks began in anticipation of the fiscal cliff and sequestration. The fiscal cliff came and went but sequestration remained, which caused some trepidation in the market. Nevada’s economy has lagged behind the overall U.S. economy but has been recovering faster. The 9.6% unemployment rate for Nevada represented a 2.2-percentage point (pp) drop from a year ago, the largest percentage decrease in the nation. Total net jobs added in the last year amounted to 23,800 with 600 of those coming in February. Although there is a job recovery underway, the Professional and Business Services sector continues to lose jobs.
Source : Cushman & Wakefield
