Sunday, October 27, 2013

A Tale of Two States, CA and NV: Part III

NV still has some of the highest unemployment in the nation.  But the state seems to be working hard to bring that down.  The article makes the point that NV will have to expand and grow new industries in order to make meaningful inroads in the job market.

Nevada has made tremendous progress, but it also fell further than most. For instance, its unemployment rate dropped 4.5 percentage points in the past two years — but it’s still the highest in the nation. And the state’s recovery isn’t going as fast as some would hope. Analysis from the Wall Street Journal suggested that Nevada wouldn’t return to its pre-recession employment peak until 2018.

Experts told CalWatchdog that Nevada still has to overcome serious deficiencies to reach its full potential.

University of Nevada, Las Vegas political science professor David Damore noted that, while Nevada ranks well in surveys about taxes and regulations, the state does much worse in other places like education, health care and infrastructure. He said that Nevada will have to have a more educated and better trained workforce before it can reasonably expect more major companies to move to the state.

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