Not only has it become harder for Nevadans to find a job given a 14.2 percent unemployment rate, the highest in the nation, their wallets are thinning, too.
The U.S. Bureau of Economic Analysis reported this week that per capita personal income dropped in Nevada's three largest metropolitan areas in 2009 compared to 2008.
Personal income fell by 2.8 percent in Carson City in 2009, for a per capita income of $41,741. Carson City still ranked 51 among 366 metro areas in the nation measured for the report.
As for Nevada's two largest cities, Reno-Sparks, ranked 35th nationally, endured a 6.3 percent drop from $46,929 in 2008 to $43,986 in 2009. Las Vegas-Paradise, ranked 118th, fell by 6.2 percent, from $39,920 in 2009 to $37,457 in '08.
Overall, 223 metros saw personal income fall in 2009. Only 134 increased and nine remained unchanged compared to 2008.
For those that increased, most of the jump was attributed to government spending, especially for the military, according to the BEA. Only five metros tallied increases because of growth in the private sector.
Still, despite the year-over-year drop for Nevada's largest metros, per capita income data from the first quarter this year, when adjusted for things like population and inflation, show the trend slowing down statewide, said Elliott Parker, the chairman of the economics department at the University of Nevada, Reno.
Parker said Nevada's economy grew by 2.7 percent between January and March this year, and when adjusted for population, it shows per capita income dropped by just 0.3 percent compared to the same period in 2009.
"Maybe we've hit bottom, but it's going to be awhile before unemployment starts coming down," Parker said.
Nationwide, Parker said data for the second quarter of 2010 showed per capita personal income grew by 3.2 percent compared to the same period in 2009.
That means things are getting better nationally, just not as fast at home.
"The rest of the economy is recovering, but very slowly," Parker said. "Nevada's economy is lagging behind the nation significantly."
He said once per capita personal incomes begin to increase in Nevada, the unemployment rate will eventually begin to decrease as more money enters the economy. But that could take months.
Meanwhile, the Las Vegas Sun reported last week that the Department of Employment, Training and Rehabilitation is expecting unemployment in Nevada to reach 14.7 percent in the fourth quarter this year.