Since the end of the pandemic, only one job sector in Clark County has seen real wage growth consistently outpace inflation: information technology. According to Andrew Woods, director of UNLV’s Center for Business and Economic Research, roughly 19,900 people work in IT locally, compared to around 303,800 in the leisure and hospitality sector, which remains the region’s economic backbone.
Despite the national trend of real wages outpacing inflation since May 2023, Clark County’s real wage growth has lagged, with consistent gains only beginning in 2024 as inflation eased. This slow wage growth, combined with rising living costs, is a key factor driving Las Vegas’ affordability gap.
The local economy has been sluggish in 2024, with declining tourism impacting profits and jobs in the hospitality sector. Major casinos have responded with price reductions to attract visitors, but a full recovery remains uncertain…