Warren Buffett’s recent $5.6 billion bid for NV Energy demonstrates one investor’s belief that Nevada’s best days lie ahead. Mr. Buffet is not alone in his renewed interest in Nevada’s economic prospects as abandoned hotel-casino construction projects have been rekindled and investors are gobbling up housing units by the thousands. That said, a close look at the state’s key performance metrics suggests that while the market has certainly improved, the sustainability of current trends remains questionable.

Employment in Nevada continued to climb in April to 1,162,300, up 0.9 percent from March and 2.2 percent from April of last year. This helped push the unemployment rate down to 9.6 percent, 1.9 percentage points lower than the 11.5 percent reported just one year ago. Notably, initial unemployment claims also fell 3.6 percent year-over-year to 17,661 – the lowest level reported for the month of April since the market peaked in 2007.

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