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Maui Unemployment Down in May

Maui had the lowest unemployment rate in the county in May 2016.
July 01, 2016

Maui Unemployment Down in May

Maui County's unemployment rate was down to 3.2% in May, from 3.6% in May of 2015. This points to a slow and steady strengthening of the economy, which should be reassuring to those who are considering a permanent move to Maui. If you want to plant roots and buy Maui real estate, it's good to know that unemployment is continuing to fall.

The unemployment data comes from the Hawaii State Department of Labor & Industrial Relations (DLIR), and is not seasonally adjusted. Unsurprisingly, their report revealed that the island of Maui had the lowest unemployment in the county at 3%, down from 3.5% in May of last year. Lanai had an unemployment rate of 7.3%, up from 2.4% in May of last year. Molokai's unemployment rate was 7.4%, down from 8.6%. Maui's economy is by far the largest and most robust of the three islands.

Compared to Maui's unemployment rate of 3%, the seasonally adjusted unemployment rate for the state of Hawaii was 3.2% in May, which was the same as in April. Although it's a small margin, it's encouraging to see that the island of Maui is a bit below the state average.

Another interesting piece of data was the national unemployment rate, which was seasonally adjusted at 4.7 percent, which was a decline from 5% in April. People are sometimes surprised that Hawaii's unemployment rate is lower than the nation's as a whole, and Maui's is even lower than the state's.

If you're looking to buy a home on Maui and find gainful employment, perhaps this information will spark your interest and you can do some further investigations in your field. As for your real estate questions, if you need any assistance, we're happy to guide you through every step of the process. Mahalo!

Blogs for July 2016

Falling Unemployment on Maui in June 2016

Posted on July 29, 2016
Falling Unemployment on Maui in June 2016

If you're thinking about buying a Hawaii home while evaluating the job market, you might want to take a peek at June's unemployment statistics, which continue to trend downward. Prospective home buyers usually know which island they like best, but the ability… Continue Reading

Hawaii PUC Rejects NextEra Acquisition of HECO

Posted on July 22, 2016
Hawaii PUC Rejects NextEra Acquisition of HECO

Hawaii regulators recently rejected the $4.3 billion acquisition of Hawaiian Electric Co. by NextEra Energy Inc., and it was a relieving moment for many Maui residents, including Mayor Alan Arakawa who opposed the deal. His primary reasons being that Hawaii money would… Continue Reading

South Maui Event Series at The Shops at Wailea

Posted on July 15, 2016
South Maui Event Series at The Shops at Wailea

One of the best things about living in South Maui is the number of interesting and celebratory events that take place here throughout the year, as if the exciting spread of shops, restaurants, world-class golf courses and white sand beaches… Continue Reading

New Park Opens in South Maui

Posted on July 08, 2016
New Park Opens in South Maui

South Maui is a wonderful place to live. That is if you like breathtaking ocean views, miles of powdery white sand beaches and a dazzling array of fun shops and restaurants. Let's not forget the world-class golf courses. Those are the big lures,… Continue Reading

Maui Unemployment Down in May

Posted on July 01, 2016
Maui Unemployment Down in May

Maui County's unemployment rate was down to 3.2% in May, from 3.6% in May of 2015. This points to a slow and steady strengthening of the economy, which should be reassuring to those who are considering a permanent move to Maui. If you want… Continue Reading

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Mark and Lisa

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

Mark@RealEstateMauiHawaii.com

(808) 283-3785

Coldwell Banker Island Properties
Shops at Wailea, Suite B-35
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