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Personal Income in Hawaii Versus US

Personal income up nationally, still down in Hawaii.
December 25, 2009

Personal Income in Hawaii Versus US

By Mark Harbison

Personal income was down for Hawaii by $2 billion in the third quarter this year, as opposed to the third quarter of 2008. The number went from $54.3 billion to $52.26 billion, according to data published by the U.S. Bureau of Economic Analysis.

Personal income was up in nineteen states in the third quarter, however. The drop in Hawaii's personal income has been attributed to the reduction in state and local government employment and spending. U.S. personal income grew 0.3 percent in the third quarter this year, following a 0.8 percent increase in the second quarter.

Based on information from the national price index for personal consumption and expenditures, it seems that inflation rose 0.7 percent in the third quarter after a 0.3 percent rise in the second quarter this year. Personal income growths were lower than the prices for goods and services in every state but Alaska, which had the largest personal income growth at a 0.8 percent increase. Louisiana had the greatest decline.

It seems that Hawaii is always just a bit behind economically. Trends that we see in the U.S. mainland always seem to affect Hawaii after a significant delay. Also, because such a large portion of Hawaii's economy is dependent on tourism, the financial condition of those living on the mainland tend to dictate the prosperity of our state, at least to a point.

As always, we'll have to watch, wait and work while future events play out.


Looking for Maui real estate? See our Maui real estate listings, or you can always use our online Maui real estate search tool. If you need any help with our website or your pursuit of great Maui real estate, please send an email to Mark mark@realestatemauihawaii.com or Lisa lisa@realestatemauihawaii.com. You can also call (866) 874-1942 toll free or Lisa's cell at (808) 283-7426. Thanks for reading and have a wonderful weekend!

Blogs for December 2009

Personal Income in Hawaii Versus US

Posted on December 25, 2009
Personal Income in Hawaii Versus US

By Mark Harbison

Personal income was down for Hawaii by $2 billion in the third quarter this year, as opposed to the third quarter of 2008. The number went from $54.3 billion to $52.26 billion, according to data published by the U.S. Bureau of Economic Analysis.

Personal… Continue Reading

Maui Economic Gains

Posted on December 18, 2009
Maui Economic Gains

By Mark Harbison

Things are chugging along towards recovery on Maui lately with some pretty good news coming from different economic sectors.

Maui visitors and residents will be pleased to hear that hotel occupancy was up by 4.2 percentage points to 51.1 percent on the week ending on December fifth.… Continue Reading

National Employment Trend Rising

Posted on December 11, 2009
National Employment Trend Rising

By Mark Harbison

The Conference Board's national Employment Trends Index rose again in November for the fourth month in a row. This is great news for the labor market which is still in a severe recession.

Since the revised October figure, the index is up 1.8 percent to 90.8,… Continue Reading

Maui Grown Christmas Trees

Posted on December 04, 2009
Maui Grown Christmas Trees

By Mark Harbison

Pines are invasive, so you'd be doing the island's ecology a favor by cutting one down and hauling it home for free. If you'd rather buy one, though, Maui should be very well stocked this year from a variety of sources.

Trees shipped from the mainland… Continue Reading

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Mark and Lisa

Mark A Harbison
R(B) (GRI) (CIPS) (TRC)

Mark@RealEstateMauiHawaii.com

(808) 283-3785

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