Economic consultant doesn’t see Nevada turnaround before 2010
CARSON CITY -- Global Insight, an economic consulting firm hired by the state, does not see the Nevada economy recovering before 2010.
The company projected Nevada will lose 48,400 jobs during 2009 and hit an unemployment rate of nearly 9 percent early in 2010 before starting slowly to improve.
Janet Rogers, an analyst with the state budget office, said the company's pessimistic forecast does not show a turnaround until late in 2010.
The Economic Forum, a group of five private business leaders, will decide today how much money state government will have to spend over the next two years. Its forecast is binding on the governor and the Legislature in creating state government's 2009-11 two-year budget.
Two years ago, the forum predicted the state would have about $6.8 billion to spend for the current two-year budget. But based on information given today to the forum, the amount available to the state during the next two years will be as low as $5.4 billion or as high as $5.8 billion.
Contact Capital Bureau Chief Ed Vogel at evogel@reviewjournal.com or 775-687-3901.
