The jobless rate in Las Vegas has risen again, with the city’s unemployment standing at 5.8 percent, making it the third-highest among big metro areas in the US, according to new data. The decline is attributed to slumping tourism, which has been falling amid economic uncertainty and weakening consumer confidence.
Tourism has become a crucial component of Las Vegas’ economy, but visitor numbers have dropped sharply over the past year. In June, nearly 3.1 million people visited the city, down 11.3 percent from last year. Convention attendance also fell 10.7 percent, with around 19.5 million visitors to Las Vegas through June this year.
Analysts point to international feeder markets, such as Mexico and Canada, as well as tariff threats and economic uncertainty affecting leisure travel. To combat the slump, casino operators have rolled out summer promotions, including free parking, lower room rates, and waived resort fees.
However, some argue that these deals may be seen as a sign of Las Vegas’ rising costs, making it less attractive to value-oriented visitors. Experts suggest that the city needs to adjust its pricing strategy to attract a wider range of travelers and revive tourism.
Source: https://www.reviewjournal.com/business/las-vegas-jobless-rate-among-highest-in-us-again-3408618