Las Vegas, located in southern Nevada, is famous for its entertainment 
and gaming industry. It is no surprise, therefore, that the major industries are tourism and gambling. The major companies based in Las Vegas include the entertainment hospitality giants such as Las Vegas Sands Corporation, Caesars Entertainment, and Wynn Resorts. The metro area has a population of approximately two million according to Forbes.
The region has experienced recent job growth of 1.9 percent, which is expected to grow to 2.6 percent for 2014. The economy is in recovery and job growth is being fueled by the tourism, gaming, construction, and real estate industries. Certain indicators that may be of interest to hiring companies and job seekers include:
- Nevada’s unemployment is currently 9.5 percent; however, Las Vegas has a higher rate at 9.8 percent. The unemployment rate is dropping and is expected to decline to 6.9 percent by 2014. Demand may grow for skilled labor in the popular industry sectors of construction and entertainment in the near future.
- Visitors to Las Vegas numbered 42.7 million in 2012; this number is expected to jump to 43.7 million in 2014. Economists are expecting gaming revenue to increase from $9.3 billion in 2012 to $9.8 billion in 2014. Entertainment and hospitality companies are likely to increase their hiring activity to meet staffing needs.
- The hospitality industry saw increased revenues in 2012. Hotel occupancy increased by 320 rooms to a total of 150,481 for 2012. In 2013, an additional 451 rooms are expected to be added and the new SLS Las Vegas will open in 2014 offering an additional 1,600 rooms.
These entertainment and construction industries will continue to be the largest employers. The growing economy and decreasing unemployment rate may cause future labor shortages for these industries. Employment in high tech industries is approximately two percent and only seven percent of adults have advanced degrees, whereas 83 percent of adults have a high school degree. This suggests that those companies who require specialized, highly educated individuals may need to expand recruitment efforts to other geographical areas. The University of Las Vegas is the top college in the area. The cost of living is slightly higher than the national average but an average commute time of less than 25 minutes is attractive and competitive with other metro areas.
According to the Las Vegas Journal Review, the city remains highly dependent on the gaming, entertainment, and construction industries, which may become competitive with respect to the labor pool.
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