Las Vegas Jobless Rate Stays High as Tourism Keeps Sliding

In June, we reported on the Las Vegas metropolitan area ending 2024 with an unemployment rate of 5.9%, the highest of all major metro areas in the U.S. 

Things haven’t changed a lot this year, according to a recent U.S. Bureau of Labor Statistics report that currently names Las Vegas as the third-largest metro region in terms of jobless rates at 5.8%. The area is only surpassed by California’s Riverside at 5.9% and Fresno at 8.5%. 

Dropping Tourism, the Main Culprit

While the unemployment figure has slightly dropped since earlier this year, it continues to be persistently high, with declining tourism numbers playing a crucial role.

June’s visitor volume went down more than 11% compared to the same month last year, reaching just under 3.1 million, according to the Las Vegas Convention and Visitors Authority. 

Even more, convention attendance also saw a dip, down close to 11% on a year-over-year basis.

Kevin Bagger, vice president of the authority’s research division, said the downturn reflects “persistent economic uncertainty and weaker consumer confidence,” further weighed down by a light convention calendar.

Overall, visitor numbers through the first half of the year are down 7.3% compared to 2024. International travel from key markets like Canada and Mexico has slowed, and analysts point to rising costs and global economic concerns as additional headwinds.

CBRE casino analyst John DeCree noted in a recent report that travel from Las Vegas’ top international feeder markets has softened. 

He also pointed to economic instability and trade tensions, with special emphasis on tariff threats under the Trump administration that “could be weighing on leisure travel,” along with increasing travel expenses that may be causing budget-conscious visitors to change their minds.

Vegas Responds With Summer Promos

As a means of fighting back, Las Vegas resorts have uncovered attractive summer promotions, slashing prices on hotel stays, giving up fees, and offering free parking to entice travelers.

Amanda Belarmino, a hospitality professor at UNLV, argued that while these types of offers are typical for summer, they may also mark a more profound change. 

“Some would argue that Las Vegas has become overpriced,” she told the Review-Journal, adding that the recent deals “would be better seen as a course correction to attract a wider array of travelers.”
With fewer tourists and high unemployment, Las Vegas faces a tough balancing act as it heads into the second half of the year. However, some, like MGM president and chief executive officer Bill Hornbuckle, remain optimistic about a potential recovery, using “history” for a confidence boost.