recession

CARSON CITY – Nevada’s jobless rate fell from a revised 13 percent in December to 12.7 percent in January, down from 13.8 percent a year ago and a peak of 14 percent in October 2010. The number of unemployed Nevadans remained relatively flat at 174,700, but is down 16,300 from the same month last year.

CARSON CITY – Members of the Nevada chapter of a small business organization say the state’s minimum wage and construction defects laws are hampering job growth in the state.

The state’s prevailing wage law was also cited as a drag on economic development in the survey of its members by the Nevada chapter of the National Federation of Independent Business.

CARSON CITY – A broader measure of Nevada’s unemployment picture, including those who have given up looking for work, showed some improvement through the end of 2011, a federal report released this week shows.

The rate in Nevada dropped to 22.7 percent in the 12 months through Dec. 31, down from 23.3 percent in the 12 months through Sept. 30, 2011.

After three nationwide searches Douglas County Manager Steve Mokrohisky found the person he wanted for the top finance job right in his own back yard. The pick was Christine Vuletich, the City of South Lake Tahoe's director of finance.
Vuletich has resigned to take the position in Douglas County offered to her this week by Mokrohisky, where she will serve as the assistant county manager/chief financial officer.

The City of South Lake Tahoe's Director of Finance, Christine Vuletich, has resigned to take a position in Douglas County, where she will serve as the assistant county manager/chief financial officer. Her last day is Feb. 17.
Vuletich, who was hired in October 2004 as the director of finance, has been responsible for the overall operation and oversight of the city's finance department, and has served as primary financial advisor to the city council and city manager.

Adele's is a Carson City landmark. This long-time restaurant — located in one of the oldest homes in town — attracts discriminating diners with its classical ambiance and reputation of its renown chef Charlie Abowd.

But now the restaurant is doing something new that will likely shake things up in Carson City early in the morning. They are serving breakfast.

A recent report commissioned by the U.S. Conference of Mayors awards Carson City the dubious distinction of being the only metropolitan area studied that is predicted to not recover any jobs this year.

Add to that this morning's unemployment report showing the rate for Carson City climbed to 12.2 percent in December, and one can't help worrying about the economic outlook for our area.

CARSON CITY – Nevada’s unemployment rate fell by four-tenths of a percentage point to 12.6 percent in December, the second consecutive monthly decline that saw the number of jobless drop to 166,300, a state agency reported today.

A year ago, the rate, which is adjusted for seasonal fluctuations in the labor market, hit a record high of 14.9 percent.

Unemployment figures released this morning show the state's overall unemployment rate held steady at 13.4 percent, still the highest in the nation and well above the 9 percent national average.

Carson City's jobless rate dropped to 12 percent in October, down from 12.4 percent the previous month. In October 2010, the unemployment was 13.1 percent.

Unemployment in the Las Vegas metro area dropped to 13.1 percent, down from 13.4 percent in September. The Reno metro area also saw a drop, from 12.6 to 12.1 percent.

Full press release below.

Occupy Wall Street began their two-week march from Nov. 9-23 to Washington, D.C. to tell Congress' Deficit Super Committee that the Occupy movement is against any extension of the Bush tax cuts. An extension of those cuts, which are due to expire in 2012, as well as reducing the tax rate on the highest bracket from 35 percent to 28 percent is being suggested as part of possible negotiations in creating the deficit reduction package which has a deadline of Nov. 23.

RENO – Businessman Raymond Pezonella said today he knew the burden of complying with government regulations had hit a new level of absurdity after an all-day audit resulted in an $8.99 gas tax charge to his company because of a trip to California that his workers had failed to record.
“This took two of my people all day long,” he said. “That guy tied up my conference room all day to do this document.”

CARSON CITY – The September jobs report released today contained some hints of economic life in recession-battered Nevada, even though the unemployment rate held steady at a double-digit 13.4 percent rate from August.
While still tops in the nation in unemployment, Nevada saw a decline in the jobless rate in the Las Vegas area, to 13.6 percent from 14.3 percent in August. The Reno-Sparks and Carson City areas also saw declines.

CARSON CITY – A report from the Tax Foundation on unemployment insurance taxes says 34 states have had to borrow $37 billion from the federal government to pay jobless benefits, and employers around the country face the prospect of higher tax rates as a result.

Data from the past week doesn't show the United States heading back into a recession - not yet, at least, according to a market and economic update from U.S. Bank released this week. It bases its f...

University of Nevada, Reno, Economics Chairman Elliott Parker has produced a compelling argument that we must rethink, reinvent our economic policy if we are to recover from the recession.Parker ob...

CARSON CITY – Despite the need to borrow $773 million from the federal government to pay jobless benefits so far in the current economic downturn, an advisory panel today recommended that the average tax rate levied on Nevada employers to pay claims remain unchanged at 2 percent for 2012.
The unanimous vote of the nine-member Nevada Employment Security Council came despite the recommendation from one employer representative for an increase in the rate to 2.5 percent or even 2.75 percent so Nevada could pay off its federal loans more quickly.

CARSON CITY – Nevada ranks well overall in an analysis by the nonpartisan State Budget Solutions of spending trends over the past decade, coming in 12th in the review of how states have managed their money in times of growth and recession.

As many Northern Nevada casinos struggle through the recession, several smaller local venues have come under new ownership over the past few years. Since 2006, 777 Gaming, founded by Rory Bedore, h...

This appears to be the week where everyone lays out their plan for resuscitating the floundering American economy. President Barack Obama will delineate his plan of action tonight, the leading GOP ...

A recession is fascinating, in a morbid sort of way, for an economist. But I must admit that I am really getting tired of this one, and would like to get back to considering other problems.Real Gro...

A recession is fascinating, in a morbid sort of way, for an economist. But I must admit that I am really getting tired of this one, and would like to get back to considering other problems.Real Gro...

A key aspect of the recent virulent debate over the debt ceiling had to do with the question of raising tax rates, at least on the super-wealthy, in exchange for deep cuts in government spending. Before we can evaluate the pros and cons of that “grand compromise,” let's look at current tax rates and understand who pays what income taxes.

Monday night's presentation of the new plan for the Carson City Center development to the Nugget Advisory Committee has put this much-criticized project back on track, even winning over some long-time opponents.

The new plan is different enough it needs a new name: Nugget Project 2.0.

Nevada experienced the greatest growth among the states in food stamp caseloads between 2007 and 2010 with an increase of 128 percent, according to a recent report from the Urban Institute.

CARSON CITY – Last year Gov. Brian Sandoval was pleased to display a copy of Chief Executive magazine in which Nevada ranked 5th best among the states as a place to do business based on a survey of more than 600 chief executive officers.

CARSON CITY – On deadline day for Gov. Brian Sandoval to act on the remaining bills from the 2011 legislative session, measures extending existing taxes for two more years, authorizing the creation of a toll road around Boulder City and banning the use of hand-held cell phones while driving were all approved.

Greetings from Washington, D.C., where they don't seem to have gotten the word that the nation is in a deep recession. The restaurants are full, traffic is horrendous, construction is booming, and ...

CARSON CITY — Senate Republicans gave new meaning to the legislative jargon “floor debate” today.
Several lawmakers sat on the floor outside their offices today as they talked to activists who have been camping on the Capitol lawn since yesterday night in support of new revenue.
The impromptu, hour-long debate featured a variety of popular budget topics including teacher pay, textbooks in schools, higher education tuition and taxes.

By Andrew Doughman
CARSON CITY – The Las Vegas Chamber of Commerce is pushing for major changes to the state’s collective bargaining law for public sector employees.
In an amendment to another bill that already passed the Senate, the  chamber said the changes will alleviate budget concerns for local governments and save taxpayers money.

By Sean Whaley
CARSON CITY – The state’s largest physician advocacy group has sent a letter to Gov. Brian Sandoval and all 63 lawmakers saying that 15 percent cuts in Medicaid reimbursements will make it even more difficult for some Nevadans to receive proper medical care.