While other parts of the country see economic improvement, Las Vegas continues to experience the deepest crisis of its modern history. Is its leisure-based economy to blame?
Adam Nagourney finds that Las Vegas' dependency on the gambling, tourism and construction industries--sectors that have been slow to rebound from the recession -- has created a severe and protracted downturn. The city's unemployment rate is currently 14.7%, and the state of Nevada has led the country in residential foreclosures for nearly two years straight.
Nagourney suggests Las Vegas' difficulties may be part of a fundamental shift in consumer spending rather than a temporary slump:
'Economists say people are less likely to gamble as freely as they have in the past, particularly baby boomers, who may now be rattled about their retirement years. In one sign of this, while there were more people coming to Las Vegas in recent months, gambling receipts have remained stagnant.'
FULL STORY: Las Vegas Faces Its Deepest Slide Since the 1940s
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Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
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This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
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Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service