Monthly Archives: March 2016

Nevada Gaming Fee Revenue Up 1.84% for FY 2016

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Nevada’s nonrestricted gaming licensees reported a total gaming win of $989,818,839 for the month of February, according to the Nevada Gaming Control Board. This amounts to an 8.05% increase compared to February 2015, when licensees reported a gaming win of $916,087,062. For the fiscal year (July 1, 2015 through February 29, 2016), gaming win has… Read more »

Nevada Has Nation’s 17th Highest Cigarette Tax, Up From 34th

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A recent review by the Tax Foundation found that Nevada’s $1.80 excise tax on a pack of 20 cigarettes puts the state 17th in a nationwide ranking of rates. This is a substantial jump from January 2015, when the state was in 34th place with a cigarette tax of 80 cents, and comes on top… Read more »

Unemployment Rates Continue Decline in Las Vegas and Reno

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The headline (U-3) unemployment rates in Nevada’s metro areas saw a decline in February, on both a month-over-month and year-over-year basis, according to the state’s Department of Employment, Training, and Rehabilitation (DETR). The rate in Las Vegas is down 0.9 percentage points from January, at 5.6 percent, and is down 1.6 percentage points from last… Read more »

Nevada’s Unemployment Rate Creeping Toward U.S. Rate

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Nevada’s unemployment rate decreased in February to a seasonally adjusted 5.9 percent, according to Nevada’s Department of Employment, Training and Rehabilitation (DETR). It’s the first time in eight years that the state’s headline jobless rate has fallen below 6 percent. The U.S. rate is unchanged from January, at 4.9 percent, one point lower than the Nevada rate…. Read more »

Nevada Jobless Claims Down, Marking End to Seasonal Layoffs

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In February, 11,429 initial claims for unemployment insurance were filed in Nevada, down nearly 17 percent from January’s total, according to a Department of Employment, Training and Rehabilitation (DETR) release. This month-over-month decline mirrored the change seen in 2015, indicating an end to Nevada’s seasonal layoff period. The 12-month average, which best shows the overall trend… Read more »

Nevada Ranks 13th Among States in Highest Sales Taxes

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A recent Tax Foundation study looked at combined (state + local) sales tax rates across the nation and ranked the states accordingly. Nevada came in at number 13: The report outlines the combined state and average local sales tax rates for each state and explains how sales taxes fit into each state’s overall tax structure…. Read more »

The West Is Back, Baby

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The West’s growth rate is back on top among the nation’s major regions, according to the latest numbers from the ADP Regional Employment Report®. Private sector employment increased in all four major regions and all nine U.S. Census Bureau Divisions during the month of February 2016. February saw 21,000 more jobs added nationally than January’s number, with… Read more »

Nevada’s Headline Unemployment Rate Down to 6.2%

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Nevada’s unemployment rate fell from (a revised) 6.3 percent in December to a seasonally adjusted 6.2 percent in January, down from 7.1 percent a year ago, according to a release today from the Department of Training and Rehabilitation (DETR). That number equates to 89,400 Nevadans unemployed, compared to 185,000 who were jobless during the peak… Read more »

So Nev Median Home Price Up 7.5 Percent Over A Year Ago

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The median price of existing single-family homes sold in Southern Nevada during February through its Multiple Listing Service (MLS) was $220,350, up 7.5 percent from $205,000 one year ago, according to a release today from The Greater Las Vegas Association of REALTORS® (GLVAR). The median price of local condominiums and townhomes, including high-rise condos, sold in February was $121,500…. Read more »