Although it may seem like it at times, it’s not all bad news out there. There have been a lot of foreclosures and job losses in the past year, but there has been a nationwide increase in existing home sales as well as an increased number of visitors to Maui in July. Here’s a bit more good news. Honolulu’s jobless rate was 6.9 percent in June but that number dropped to 6.1 in July.
So, many of those who lost their jobs in the capital city recently have found employment again. That is very good news indeed, especially considering the number of people that those gains account for.
These numbers were reported by the U.S. Bureau of Labor Statistics, in case you weren’t sure about the credibility of such a report. We still have a long way to go, considering that the jobless rate was still up from 3.9 percent since July of last year.
Hawaii is not alone in the need for recovery since July of last year. In fact, all metropolitan areas in the U.S. had higher unemployment rates this July than last, but that is no surprise. The climb from this low must take place in small increments.
Honolulu’s unemployment levels were in fact lower than the national average, which was 9.7 percent this July as opposed to 6 percent in July last year. In conclusion, we’re certainly not out of the woods yet, but we’re taking steps in the right direction, and that is reassuring.
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