[007 license to sell]

In case people didn't know there is an estimated 176,000 persons jobless in Nevada and to say they aren't trying is wrong maybe some but this is allot of unemployed people with families they have to support. Some are moving out some can't afford to move, some have moved in with friends and families because besides being unemployed they have lost their homes.

[olecapt]

Originally Posted by 007 license to sell

As a fellow Montanan and owning a business there as well, I can attest that employment is allot different in Vegas which is where we have been living for the last 6 years. It doesn't matter where you live there will be people that don't want to work. However these are different times people are being laid off that have worked all their lives and are struggling to survive.


Snipped

These stats show where the largest job loss is and as you can see it's construction, leisure and hospitality and professional jobs, trade and transportation and utilities that took the biggest hits.

The stats have another message if you think about it. The devastated piece is the construction industry and its support structure...all up likely half to two thirds of the problem.

That suggests that we are hurting some outside of construction but probably no worse than other areas of the US and better than some.

That lines up with my personal experience. Traffic is up. Client base has or is able to find jobs. The competition for starter home is incredible. Visitor numbers are coming up. Strip is selling out on high holidays.

I think the turn of the economy in Las Vegas is well underway. The big question now is how long does it take?

[ClarkGrisowld]

Originally Posted by olecapt

I think the turn of the economy in Las Vegas is well underway. The big question now is how long does it take?

Not until the convention business comes back en masse, which could be as long as Q4 of next year.

Also, I think airport traffic is still way down. I think CA is taking advantage of cheap rates to fill things up on the weekend. Occupancy alone is not a very good gauge. Recovery is not on its way until demand picks up enough to start driving rates higher again. More drifting along the bottom at the moment.

[olecapt]

Originally Posted by ClarkGrisowld

Not until the convention business comes back en masse, which could be as long as Q4 of next year.

Also, I think airport traffic is still way down. I think CA is taking advantage of cheap rates to fill things up on the weekend. Occupancy alone is not a very good gauge. Recovery is not on its way until demand picks up enough to start driving rates higher again. More drifting along the bottom at the moment.

Hey...I will happily bounce along the bottom for a while. Beats the whole out of diving deeper...

[Buzz123]

Originally Posted by Willy702

There might not be any tax withheld, but that doesn't mean there is no tax owed. Not clear if there will be a tax exemption on $2400 of UI this year either.

The problem with expecting people to take lower paying jobs is that employers want people who are committed to the jobs, plain and simple. My buddy was ordered to go interview for a $9/hour filing job to continue to be eligible. He told the lady he was capable of doing the work, but made it clear he was searching for something more appropriate for him (and closer to his $120,000 salary he lost when GM shut down dealers) and he would need to miss some hours here and there to interview. Of course she wasn't going to hire someone like that. What was the point of that whole exercise anyways?

More urban myth. It seemed to me that more people than not checked the box for income taxes to be deducted from their UI checks. Not being able to advise them exactly, many of us heartless bureaucrats in the office hinted that they probably needed the whole thing right now, and that the loss of a job would probably mean they wouldn't be paying much if anything in taxes that year, depending on how long they were out of work. After thinking about it, lots of them unchecked the box. It's silly, when you are out of work, to let the Feds hold your money for you when you'll most likely get it back at the end of the year.

I haven't asked my former heartless bureaucrat friends how many weeks the extensions have been for, so, John G72, if you say 99 I can't argue with it. But I'd be more inclined to think it is 52.

Also, Willy702, I find it hard to believe that anyone "ordered" your friend to apply for a $9.00 per hour job not in his field. It might be something that Congress added on to the extension bill, but what you are normally expected to do is look for work at least three days a week; and if you are a brain surgeon you are not expected to look for a job digging ditches.

Unemployment is the most complicated thing I've ever run into, and so it is the most misunderstood. Even the UI Claims Examiners get confused on a daily basis and take about half their claims to a supervisor for clarification. Then the supervisors about half the time call Carson City. Every claim is different.

[Buzz123]

I just thought of something funny ─ at least it is to my sick mind. Most people are unqualified to file for unemployment insurance. Haaaaa.

[KevK]

Originally Posted by pommysmommy

I wonder if Harry Reid can bear any responsibility for job losses.

Don't blame Hairy Read for this. It was Bush and the Republicans that caused this.

[KevK]

Originally Posted by JohnG72

Oh, but buying real estate in Vegas as a +cash flow earning investment is an outstanding idea

Many states got drunk on real estate speculation and the places that got the drunkest and stupidest have fallen the hardest. Even here in Atlanta- when I moved here in 1996, the metro was adding 1000 new residents A DAY every day of the year. Housing prices were going up 20% a year and in some areas, doubling every year. Anybody that was not a total idiot could see that was not sustainable. It was even worse in Florida. People would buy condos on spec and flip them 3 or 4 times before they were even built!

[KevK]

Originally Posted by pommysmommy

Phoenix is not doing so great. They have had daytime home invasions in the Paradise Valley area. My friend has two homes now because she refuses to give one away for so much less than she paid. They are fortunate enough to be able to carry two homes.

She is going to be really old before she gets even what she put into it. And, unless she finds a renter that can cover PITI she will spend more over that time than she would suffer in a loss. Mail the keys back to the bank!

[KevK]

Originally Posted by pommysmommy

Reading these local forums really makes it hard to believe that the United States is coming out of the recession.

We are on the road but because the Republicans did so much damage to our economy, we face a long road to recovery. Unemployment is going down but it will be slowly and the jobs that are found will probably pay less too. Real estate? Would not wait on that to come around either. But the Obama Recovery Act is helping some. I do think he will have to do another stimulus however.