Archive for May 22nd, 2006

Healthy Job Market = Healthy Housing Market

Monday, May 22nd, 2006

Las Vegas JobsThe second quarter Manpower Employment Outlook Survey was released last week for Greater Las Vegas. How do things look? Southern Nevada businesses plan on hiring additional workers in the coming months for sure. A full one third of firms surveyed expect to add staff while two thirds have every intention of holding steady. Here’s the amazing part of the story, none of the companies surveyed had any intention of decreasing employment whatsoever!

The Las Vegas housing market sits on a very solid foundation of strong economic growth. Better yet, intense competition for skilled labor of all kinds is creating natural upward pressure on wages and benefits. Any narrowing of the gap between the median price of a Las Vegas home and the median income level of Vegas wage earners is a definite plus! For those who like to prognosticate about the Las Vegas real estate bubble, consider this; Las Vegas has lead the entire nation in employment growth for the last three years running.