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Las Vegas Market Reports

Despite a strong start at the beginning of 2020, the Las Vegas economy came to a sudden halt with the onset of the pandemic. Heavily hit by the closure of the leisure and hospitality industry, which accounts for nearly one-third of the workforce, Las Vegas hit an unemployment rate high for the state, coming in at 34.0% in April 2020, compared with the national rate of 14.4%. As businesses began to reopen slowly throughout the summer, the number of initial jobless claims declined, with unemployment coming in at 16.4% at the end of July.