Monday, 20 July 2009

As Boom Times Sour in Vegas, Upward Mobility Goes Bust .

Very interesting article about Las Vegas economy from Wall Street Journal.

Boom time in tourism and construction have provided opportunities for blue color worker Upward Mobility. Union workers in hospitality business was paid appropriate $17/hour. Some made fat tip such as valet parking attendants' average $500.

As economy faltered (12%+ unemployment rate), those days of upward mobile day for service workers seems long gone....

As I wrote in the past, Las Vegas real estate price continue to decline as foreclosure and unemployment continuously rise.......

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