Just last week, Nevada posted the highest unemployment rate in the United States for any state ever. That stat tells you all you need to know about how the Covid-19 lockdown has affected Nevada and its tourism industry. More than a quarter of Nevada’s workforce is employed, more than the U.S. average during the Great Depression. Just three months ago, the state’s unemployment rate sat at 3.8 percent, the lowest ever.
Economist John Restrepo has been studying the Nevada economy for more than 20 years and he points out the devastating impacts of the lockdown and how the state can rebound from it, although there are still plenty of uncertainties. Restrepo’s RGE Economics publishes the widest and most complete set of data on the Nevada economy. He spoke with GGB Publisher Roger Gros from his offices in Las Vegas in mid-May.