According to the State of Hawaii's Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate held steady at 4.4 percent in May 2014. The last time the unemployment rate was this low was in August 2008. In comparison, the most recent peak occurred during the Great Recession in July and August of 2009 when unemployment hit 7.1 percent.
One thing that the state noted was that the construction industry has been gaining jobs at a steady pace. Leroy Laney, a professor of economics and finance at Hawaii Pacific University, commented, "The increase in construction workers reflects what's going on in the construction sector, which is a positive sign because it remained dormant so long. It can be expected to continue with all the construction going on in Kakaako and various places. The unemployment rate remains one of the lower unemployment rates in the country. It's not a negative sign that it remains at 4.4 percent. At least it's not rising."
One thing that the state noted was that the construction industry has been gaining jobs at a steady pace. Leroy Laney, a professor of economics and finance at Hawaii Pacific University, commented, "The increase in construction workers reflects what's going on in the construction sector, which is a positive sign because it remained dormant so long. It can be expected to continue with all the construction going on in Kakaako and various places. The unemployment rate remains one of the lower unemployment rates in the country. It's not a negative sign that it remains at 4.4 percent. At least it's not rising."
Source: Honolulu Star Advertiser, 6-20-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
