Feature Image: Ryan McGinnis
The pain felt by restaurant and hotel employees who are losing their jobs soon will be felt elsewhere in the Reno-area economy, too.
Eugenia Larmore, PhD, the president of Ekay Economic Consultants Inc. in Reno, says that every dollar lost in the restaurant business in Washoe County results in an additional 69 cents of economic losses elsewhere in the economy.
These additional losses come from the so-called ripple effect, as restaurant workers spend their pay on groceries, apartments and all the other necessities of daily life.
In the hotel sector, every $1 that isn’t spent in Washoe County because of shutdowns related to the coronavirus results in lost revenues
Among the sectors of the local economy that can expect to be hit by restaurant and hotel layoffs, the economist says, are the commercial real estate firms that lease space to restaurants, electric utilities, insurance firms, media that carry advertising and providers of medical care.
Larmore says the figures are based on data generated by IMPLAN, a complex tool developed by a North Carolina company to analyze the workings of the economy.
Hotel and restaurant jobs account for about 13 percent of the workers in Washoe County — about 33,000 jobs in total in the two sectors.
Those jobs don’t pay particularly well, Larmore notes. Hotel workers make about 63 percent of the average county weekly wage of $1,007, and restaurant and bar workers make about 39 percent of the average county wage.
“Not only are these wages low, many of the employees work fewer than average hours,” she notes.
This Is Reno’s COVID-19 news coverage
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Members of the Communications Workers of America picketed outside Saint Mary’s hospital after struggling for almost a year to negotiate a contract.
Washoe County Health District is recording a decreased number of COVID-19 infections, with about 193 new cases per day.
The number of new COVID-19 cases and deaths reported regularly dips over weekends and holidays, when less testing centers and labs are open
Nevada is expected to receive around $206 million from the latest federal relief package for rental and utility assistance.
Nevada received permission to add more than $40 million from CRF funds allocated in 2020 to its 2021 CRF expenditures.
Washoe County School District Superintendent Kristen McNeill on Friday shared the district’s plan to vaccinate its employees to protect them from the COVID-19 virus.
Washoe County has once again hit a grim marker for most deaths in a single day—15.
The Washoe County Health District is noting a “sort of a flattening” of the curve of COVID-19 transmission and a slight decline in new cases.
The school district’s trustees meeting broke from routine Tuesday as new members adjusted to the meeting’s flow.