Las Vegas casino operator MGM Resort is laying off more employees from its resorts, adding to its nation’s high unemployment condition. The Reno Gazette-Journal purported on Thursday that MGM planned to lay off 140 managers from its several Las Vegas casinos starting the past Monday. MGM representative Brian Ahern said that the part-time reductions were the consequences of the projections presenting business amounts will stay low for the starting of the year because of the pandemic.
MGM has furloughed hundreds and thousands of employees last season when the COVID-19 brought months of shut down to Nevada casinos. However, the capacity prohibitions inflicted as a situation of reopening drove MGM to permanently furlough its 18K employees in August. Other casinos in Vegas were obligated to follow the same path. Some even proclaimed the possibility of further limitation and worsening of the condition earlier this week.
A report from the Bureau of Labor Statistics on Tuesday has shown that the unemployment rate in Las Vegas has come to 11.5% in November. It is much lower than the 16.4% purported in California’s El Centro. However, Vegas has a dubious honor of showing the highest unemployment rate among all 51 metropolitan regions with a net population of 1 million or a bit higher. Vegas also possessed the highest rise year-on-year in its jobless volume, gathering 7.9 points from last year’s 2019.
A November statistic has shown that the city has welcomed around 1.51 million visitors in that month which is 56.8% down from the last year’s same month. The number of visitors who appeared in Las Vegas is 18.4% lower than October’s 1.85 million visitors.
November’s hotel vacant rate was about 39% less than half the 88% in the same month of the previous year. Midweek occupancy also seems quite low.