Workers Needed!
In a column that run Sunday in the Las Vegas Sun a professor of history at the University of Nevada, Las Vegas discussed how the continuous surges in growth in the Las Vegas area will keep the demand for workers high. Interestingly enough, one complaint about the Las Vegas area is that a high number of jobs are at the minimum wage level or simple, ordinary labor.
What makes labor ordinary in many parts of the country is the surplus of workers available for it. However, Las Vegas faces an entirely different issue. Their skilled and unskilled labor is facing a massive shortage. Contractors can double the cost of their fees because the demand for them is so high. Specialized contractors in LA may be booking jobs 30 days out, but in Las Vegas they are booking them four and five months out.
In his article, Professor Rothman describes what the term 5 percent unemployment means. Economists consider that to mean ‘full employment.’ A time when anyone actively seeking a job has found one and in the Las Vegas area, with the exception of the immediate aftermath of 9/11, the city of Las Vegas has consistently run in below the 5 percent unemployment for a decade.
A decade.
No wonder there’s a housing boom in Las Vegas and while people may worry about the housing market going soft, the job market continues to expand beyond the capacity of the available supply.
This information brought to you by Las Vegas Real Estate.
