“The cracks in the labor market in Las Vegas and across Nevada have typically appeared early and widened fast when the U.S. economy soured, making the consumer-driven city and state a bellwether of sorts for the rest of the country,” Reuters reports.
“By that measure, as the Federal Reserve heads towards a momentous shift to interest rate cuts this week, business owners, labor leaders, and economists in Nevada see few obvious signs of trouble.
Indeed, in a state critical to the outcome of a U.S. presidential election in November that may well turn on pocketbook issues, they see plenty of evidence of an economy moving beyond high inflation without an employment-crushing recession: The Fed’s longed-for ‘soft landing.’”