According to the Center for Business and Economic Research at the University of Nevada, Las Vegas (UNLV), the number of driver’s licenses surrendered at the Department of Motor Vehicles (DMV) reached 12,783 for the fourth quarter 2010 (aggregated total for October, November, and December), compared to 11,842 and 14,604 in the second and third quarters of 2010, respectively. New permanent residents to southern Nevada are required to surrender their out-of-state license to the DMV in order to receive a Nevada issued driver’s license. The count of out-of-state licenses surrendered to the DMV is a common measurement of in-migration to a particular area. The fourth quarter 2010 count represented a 7.9-percent increase from the previous quarter, but a year-over-year decline of 2-percent from 13,047 in the fourth quarter of 2009.

Another mechanism historically utilized to gauge population movement has been electric meter counts. As of the end of the fourth quarter 2010, active electric meter counts totaled just over 730,000 in Clark County (number is adjusted to account for vacant dwelling units). The 730,000 count is comparable to 730,241 from the previous quarter, thus indicating at least an initial stability in this indicator, and an increase from 726,345 in the fourth quarter of 2009.

National consumer confidence remained relatively unchanged quarter-over-quarter and year-over-year, concluding at the end of December 2010 with an index reading of 53.3 (52.9 from previous quarter’s average and 53.6 at the end of 2009). The consumer confidence index (CCI) is an instrument that measures sentiment and optimism towards the state of the economy in the population. In correspondence with the CCI, the Expectation Index and Present Situation Index measures economic judgment on a graduated rating scale, such that higher index ratings equates to a more positive outlook. The Expectations Index was 72.3 in December 2010, down from the second quarter in 2010. Appraisal of present-day conditions has slowly improved over the past year, with an index of 28.8 in December 2010, while only 20.2 in December 2009. By comparison, however, the index was 30.2 in December 2008 and 112 in December 2007.

Researchers at the University of Nevada, Las Vegas (UNLV) indicate the initial estimate of real gross domestic product (GDP) growth for fourth quarter 2010 was 3.1 percent. This is an improvement from the third quarter 2010, with a rate of 2.5 percent. In addition, researchers report increased consumption rates on personal spending, retail sales, and housing sales.

According to indicator data on the Clark County Monitoring Program (monitoringprogram.com), visitor volume reached 2,884,836 during December 2010, an increase by 3.7 percent from 2,780,648 year-over-year. Gross gaming revenues, however, were down 2.6 percent from the previous period one year ago. Several other indicators had rates of change over the last quarter that are particularly relevant to southern Nevada including commercial vacancy rates (increased 1.5 percent from the prior reporting period year), and unemployment rate (increased 1.9 percent to 14.9 percent from the previous period one year ago). Regarding the employment rates for specific sectors from the previous year, construction employment decreased 2.9 percent; transportation and warehousing decreased 2 percent; education and health services increased 1.2 percent; professional and business services increased 1.5 percent; and retail increased 1.2 percent from the previous year.