Las Vegas Economy Mixed: Gaming Up, Tourism and Jobs Down
Las Vegas, the entertainment capital of the world, has seen a mixed bag of economic indicators in recent months. While gaming revenue has shown modest growth, tourism and employment figures paint a more complex picture.
In August 2025, total employment in Nevada held steady at around 1.57 million jobs, unchanged from the previous year. However, this figure masks a decline of about 3,800 positions from July. The private sector saw a more significant drop, with 6,000 jobs lost, primarily in construction and accommodation and food services industries. Nevada's unemployment rate edged down slightly to 5.3%, but the labor force shrank by about 1,300 people, suggesting that some residents may have left the workforce.
The tourism industry, a key driver of Las Vegas' economy, has faced challenges. Visitor volume in southern Nevada fell by 11.3% in June 2025 compared to the same month last year. This decline was reflected in hotel occupancy rates, which dropped by 6.5% percentage points to 78.7%, leading to a nearly 14% decrease in revenue per available room. Service workers on the strip have also reported declining foot traffic, which has affected their earnings, heavily reliant on tips.
Despite these challenges, the Sphere at the Venetian Resort Las Vegas has been hailed as an 'absolute game changer' by the resort's CEO. Convention attendance in southern Nevada, however, dropped by 10.7% in June 2025, underscoring weak demand for leisure and business travel. The job market in Las Vegas has remained stagnant despite these tourism trends.
While gaming revenue in Clark County rose modestly by 3.5% in June 2025, suggesting that visitors spent more despite fewer visitors, the overall employment picture in Las Vegas and Nevada remains uncertain. As the city continues to host significant events like the RV Dealers Convention/Expo, it will be crucial to monitor these economic indicators to gauge the true health of the local economy.
