Home Front

A blog about the economy and the Sacramento-area real estate market.

April 14, 2009
On to Nevada, where life is, uh, less than perfect

    Over the years, we've written about the economic interplay between California and Nevada. Business lobbyists will tell you that Nevada's low-tax climate is a constant threat to California's well-being, luring companies and wealthy individuals eager to flee California's high costs of doing business. Some economists say that idea is overblown.

   Now a group of California Republican lawmakers will hold a big public forum - in Reno - to call attention to the differences between the two states.

     The point of the April 24 forum is obvious: California is self-destructing with its high taxes and heavy regulation. The Republicans are hoping to spotlight ex-California companies that have relocated to Nevada. Nevada legislators and Nevada Gov. Jim Gibbons, a Republican, will participate, according to a press release issued by California Republican lawmakers. 

    Now, you know that Home Front is relentless nonpartisan. But I wonder if the Republicans will discuss just how bad Nevada's economy has become.

    True, its unemployment rate is still lower than California's (10.4 percent vs. 11.2 percent). But according to Palo Alto economist Stephen Levy, Nevada is third-worst in the United States for job loss over the past year, at 5.4 percent.

    California is ranked tenth on that scale, having lost 4.2 percent of its jobs.

    (Note: I've updated these numbers from my earlier blog post to reflect the March figures, released April 17)


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