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Hawaii Unemployment Rates Fall in January

Unemployment rates have fallen on every island in January, year-over-year.
March 18, 2016

Hawaii Unemployment Rates Fall in January

Real Estate in Hawaii

Some encouraging news has recently come down the pipeline from the Hawaii state Department of Labor and Industrial Relations. Hawaii's seasonally adjusted unemployment rate dropped to 3.2 percent in January. It was at 4 percent the same month last year. It's a substantial step in the right direction for Hawaii residents, and anyone involved with things like business and real estate in Hawaii.

The announcement included a breakdown of the unemployment rates by island, which were not seasonally adjusted. As expected, Honolulu took the lead with the lowest rate, which came out to 2.8 percent, down from 3.5 in January of last year. On the other end of the spectrum was the Big Island with 3.8 percent unemployment, down from 5 percent. Kauai was 3.6 percent, down from 4.6 percent.

As Maui real estate specialists, we were most interested in the numbers of our county, which includes Maui, Lanai and Molokai. The unemployment rate for all of Maui County was 3.3 percent, down from 4.3 percent. The rate for the island of Maui was also 3.3 percent, down from 4.2 percent. Lanai's unemployment rate was all the way down at 2.8 percent, down from 3.5 percent, while Molokai's rate was at 6.3 percent, down from 8.5 percent.

For reference, the seasonally adjusted national unemployment rate was 4.9 percent in January, which was down from 5.7 percent in the same month last year. There's still room for improvement, of course, but it's great to know that Maui's unemployment rate is significantly lower than the national average.

Hopefully the downward unemployment trends throughout the islands and the nation will continue with economic growth. If you're considering a move to Maui, we're hoping you find this information encouraging. For those of you in the market for Maui real estate, you'll find our contact information at the bottom of the page if you should need our assistance. Mahalo!

Blogs for March 2016

Luxury Maui Real Estate at Makena Place

Posted on March 25, 2016
Luxury Maui Real Estate at Makena Place

Some of Maui's most luxurious real estate treasures can be found at Makena Place, the remote part of South Maui where privacy and natural beauty set the tone for a peaceful island lifestyle. Tranquil azure water spans as far as the eye can see,… Continue Reading

Hawaii Unemployment Rates Fall in January

Posted on March 18, 2016
Hawaii Unemployment Rates Fall in January

Some encouraging news has recently come down the pipeline from the Hawaii state Department of Labor and Industrial Relations. Hawaii's seasonally adjusted unemployment rate dropped to 3.2 percent in January. It was at 4 percent the same month last year. It's a substantial… Continue Reading

Maui Island Water Use and Development Plan

Posted on March 11, 2016
Maui Island Water Use and Development Plan

Resources must be handled with care when you live on an island. Maui's isolation is one of its celebrated qualities, but between that and its limited size, using water responsibly is vital for the environment, guests and residents alike. That's why we're… Continue Reading

Maui Solar Farm Approved by Regulators

Posted on March 04, 2016
Maui Solar Farm Approved by Regulators

The latest energy news for Maui involves two solar projects that would provide 5.7 megawatts combined to the Maui Electric grid at 11.06 cents per kilowatt-hour. Maui Electric has stated that it doesn't mark up or profit from purchased power, so any savings will be… 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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