According to a report issued by the Federal Bureau of Economic Analysis, personal incomes decreased by 0.8 percent during the first quarter of 2013. Experts believe that this is due to an increase in federal payroll taxes that went into effect on January 1, 2013. Workers across the nation saw an increase in payroll taxes of 2 percent at the start of the year, equating to less take home pay. The state of Hawaii's Department of Business, Economic Development and Tourism is predicting a 5 percent increase in personal income for Hawaii residents by the end of 2013.
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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