First Independent Bank Releases 2018 Regional Intelligence Report
First Independent Bank hosted its 2018 Economic Forum featuring keynote speaker Dr. Christopher Thornberg on Thursday, September 20 at The Grove at SouthCreek. A well-known economic expert and commentator, Dr. Thornberg has appeared on CNN and NPR and is regularly quoted in major national dailies including the Wall Street Journal and New York Times.
Insights shared by Dr. Thornberg covered national and regional economic trends with specific attention given to the local economy in Northern Nevada. As part of the event, First Independent Bank has released a Regional Intelligence Report with key findings included in Dr. Thornberg’s presentation.
Key findings provided in the report include:
- Employment grew in Reno by 3.8% from June 2017 to June 2018 lowering the unemployment rate by 0.8 percentage point to 3.4%.
- Wages in Reno have also been climbing, with average pay rising 3.8% in 2017, reaching $48,800.
- Total taxable sales in the Reno MSA increased 2.2% from 2017 to 2018. The gains would have been higher if not for losses in Construction categories.
- Median home prices in Reno increased 11.3% from June 2017 to June 2018 to reach $352,400. This well exceeds the Nevada median price of $275,500.
These and other insights are provided in our Regional Intelligence Report. Download your free copy today.