It’s clear: The coronavirus pandemic has rocked the entire nation’s economy in more ways than one. Sectors like the gaming industry, tourism, and retail have seen their impact more than others. In the same way, some states have been hit much harder than others.
According to a newly-released study, Nevada’s workforce has been the most impacted by the coronavirus pandemic.
In a one-two punch, COVID-19 has crippled Nevada’s economy mainly on the account of tourism, followed by the absence of gaming. Last month, Gov. Sisolak mandated the shutdown of the state’s casinos, which effectively put Las Vegas to a halt.
Nevada, as well as Hawaii, lead the country when it comes to their leisure, retail, and hospitality markets. It’s no help that the same markets Nevada is well-known for, are the same markets that have been hit the hardest during the COVID-19 crisis.
Industry Data Comparison for Nevada Versus the Entire Country
Around 35% of jobs in Nevada fall under those three markets, leisure, retail, and hospitality, according to statistics from the U.S. Bureau of Labor Statistics.
Compare that with the statistics of workers for the entire United States. Those who fall under the leisure, retail, and hospitality industries make up 21.3%.
Nevada Economy Hurting Badly
Oxford Economics, an analytics firm, ranked Nevada as second-most impacted state amid the coronavirus pandemic, trailing just behind Maine.
According to the firm, Nevada gets four times more of its gross domestic product from the tourism sector than the nation does altogether.
Yardi Matrix, a real estate research group, estimated that an even higher percentage of Nevada workers are being impacted by their affected industries. The group believes 49 percent of Silver State workers are at risk for job loss, including the construction sector on top of leisure, hospitality, and retail.
‘Operation Nevada’ Protest
Last Saturday, hundreds of Nevada residents in Las Vegas and Carson City joined forces in a peaceful protest against Nevada Gov. Sisolak’s stay-at-home directives, putting pressure on the Governor to reopen the economy sooner.
This protest was held two weeks in a row, and is organized by the conservative political group “Fight for Nevada.”
The group is working to collect signatures in an effort to recall Sisolak’s order. In order for a recall petition to work, it would need to collect close to 244,000 signatures, according to Nevada’s constitution.
The number is equivalent to roughly a quarter of the 976,320 people who partook in Nevada’s general election back in 2018.
Governor Sisolak Relying on Medical Advice for Reopening
While a protest has been organized to recall Gov. Sisolak decision, as well as Las Vegas Mayor Carolyn Goodman’s pleading with the Governor to open the economy back up, Sisolak says he will wait on the direction of medical experts.
It’s hard to see how Nevada’s economy has been rocked by this pandemic, and it’s unsure whether the state will reopen its casinos and nonessential businesses back up by April 30, the currently scheduled reopening date.
We will just have to wait and see what medical advice Governor Sisolak is given and go from there.
When do you think Nevada’s economy will open back up? Share your thoughts with us in the comments below!