Economy

... Hawaii’s unemployment insurance system is in crisis, with stalled payments, rampant fraud, and massive debt leading to higher taxes ....

... With a population with a strong demographic base, what has happened to the job situation which makes it so high? The answer in a word is “tourism” ....

...“There are three kinds of lies: lies, damned lies, and statistics.”....

"The improvements ... are mainly attributed to the federal government assistance programs and the starting of the pre-travel testing program for trans-Pacific passengers."

...the looming massive increase in the state’s unemployment insurance tax....

...The largest percentage decline in non-farm payroll occurred in Hawaii (-17.3 percent)....

“Just when you thought we’re sort of getting back to some system of normalcy — not the case!”

...32,000 eligible PUA individuals will receive a preloaded, prepaid card containing $500 in the mail beginning November 20....

...Failure to address the legally required increase could discourage employers from hiring back employees after the lockdowns....

... to get right to the heart of what it means to have a healthy economy ....

...to bail out Hawaii's politicians at the local level, who have been doing little during our prolonged coronavirus lockdowns to trim the state's extravagant spending, despite the collapse of the state's private sector and evaporation of its tax stream....

...As lockdowns are gradually lifted, what is the pathway to restoring Hawaii's economy?....

... $381.2 million in economic output generated, including direct, indirect, and induced effects ....

... Federal-State Extended benefits begin Tuesday, Oct. 27 for Hawaii workers who have exhausted their state and federal jobless benefits ....

... because the state GDP data is released with a three-month lag and undergoes many revisions after its release ....

...Hawaii’s unfunded liabilities for infrastructure and public health benefits have increased so far this year to $97 billion....

... Hawaii 2020 unemployment claims surpass 380,000 ....

...Hawaii’s negative migration of the past several years in a row is going to accelerate....

...Hawaii’s general fund spending rose a hefty 5.7 percent in 2020, thus reducing the governor’s score in this report....

...Hawaii’s leading industry, tourism, has virtually disappeared; unemployment is at historic highs; hundreds, if not thousands, of businesses have permanently closed; state and county tax revenues have evaporated....

...Hawaii has recovered just 13% of the jobs lost since the start of the pandemic....

... Prior to COVID-19, our respondents reported a roughly 4% vacancy rate .... In August, however, this number jumped to 9% ....

...UHERO report illustrated a dark forecast—worse than the aftermath of 9/11—for travel and tourism in Hawaiʻi, across the U.S. and around the world....

...Our baseline forecast now sees meaningful economic recovery delayed until the middle of next year, and an attenuated recovery period thereafter....

... At the beginning of the year, our governor boasted about his efforts to put the state on a “sound financial footing.” What a difference a few months can make ....

...Hawaii lost the highest percentage (-3.5 percent, -1,300 jobs) of construction jobs for the month....

...Jobs declined by 105,200 over-the-year....

...Hawaii was the second-most-dependent state on the additional $600 in unemployment benefits that expired at the end of July.....

...These notices only represent announcements by companies in the state that have 100 or more employees....

...The revision is mainly due to the delayed pre-test program for trans-Pacific travel and the two-week Stay-at-Home, Work-from-Home order for Oahu....

... The unemployment rate would have been much higher except that there were nearly 30,000 fewer people in the labor force than a year ago ....

...Caldwell said at the news briefing that county and state leaders discussed the modified restrictions for O‘ahu over the past five days, trying to decide whether to use a scalpel or a hammer. “We’ve chosen a scalpel,” Caldwell said....

... Hawaii 5th largest quarterly increase in overall delinquency rate ....

...Growing the budget and approving government employee pay raises when Hawaii is running out of money is an unsustainable way to run a state....

...With the exception of jobs in information technology and other services, no industry category saw a meaningful increase from the devastating April 2020 job numbers....

...In the meantime, the unemployed need to survive without any plus-up at all....

...due to the increased difficulty of navigating a trans-Pacific move. There is also fear of a spike in COVID-19 cases in states such as California and Texas....

"...At the stroke of midnight tonight (July 31) there will be over 161,000 Hawaii residents about to fall off the federal unemployment cliff and there appears to be no solution at hand...."

... more than 16,000 jobs are available across the state. Top positions included retail salesperson, network and systems administrator and security guard ....

...States Whose Unemployment Rates Are Bouncing Back Most....

...which measures changes in employment and employee wages, monthly revenue and revenue sources, current state of operations and plan for trans-Pacific tourism opening, impact of the Paycheck Protection Program (PPP) and business outlook....

...individuals are classified as employed, unemployed, or not in the labor force based on questions about their activities during the survey reference week (June 7th through June 13th)....

...Employment–population ratio, Hawaii 2nd lowest in USA....

...the state’s total employment rate, as well as its unemployment rate, will not return to its pre-pandemic level until 2029....

... donning rose-colored glasses and approaching the budget shortfall as a temporary setback ....

...151,071 valid claims are being paid....

...the Hawaii Legislature should not make a dismal situation worse....

"...The revenue profiles of the state and the city and county are quite different. The state is much more exposed to volatile revenue sources such as general excise tax and transient accommodation tax (TAT)...."

...51% of respondents in households with at least one child report their income has declined since the start of COVID-19....

...A grim financial outlook is on the horizon for the state of Hawaiʻi due to the impact of COVID-19....