To hear Nevada's chief economist tell it, the Silver State's economy is looking pretty good these days. Unemployment numbers are way down, home values are way up, and job creation is outpacing most of the country (Nevada comes in fourth).
Not everyone is feeling the effects equally. Most Nevadans have dealt with stagnant wages for years following the recession, even in times of unprecedented growth. So are Nevadans getting raises now?
The short answer is yes. But they're modest, and they've been very slow in coming.
Nevada Chief Economist Bill Anderson said that workers just weren't in a strong bargaining position following the recession, and that's taken time to change.
"Employers didn't really have to offer very attractive wage packages to get the unemployed back to work," Anderson said, "but now that the labor market is getting tighter, we are starting to see wages grow."
Anderson said wages in Nevada grew about three percent in 2016, which was actually higher than the rate of inflation. That means Nevadans overall increased their purchasing power last year.
This is the first time that has happened in a while, so Anderson said we still have some ground to make up in that area.
The good news is, in just about every other category Nevada has completely recovered from the recession.
"As I look at the economy, it's been a long road," Anderson said, "but after about five or six years of continuous recovery, we've finally made our way all the way back."
The full interview with Bill Anderson will air on this weekend's episode of Face the State. That airs Saturday at 4:30 a.m. and 3:30 p.m.
and on Sunday at 6:30 a.m. and 4 p.m. Episodes are also posted here after they air.
