Prior to the current recession, Honolulu at one point had the lowest unemployment rates in the nation.
Back then, we were hovering in the 2% rate of workers being unemployed. Although 5.2% is much higher, we are also significantly lower than the national average.
According to the latest numbers from the U.S. Bureau of Labor Statistics, Honolulu’s unemployment rate is now the 8th lowest in the nation. Lincoln, Nebraska had the lowest rate at 4.2% followed by Bismarck, North Dakota and Ames, Iowa. That’s great for those cities, however, I’m not quite sure if I’d want to live there…
I don’t think Hawaii’s nor our country’s economy is quite out of the doldrums yet. However, this is a great sign for us and another reason why you haven’t seen Honolulu real estate prices crashing like other parts of the country.
If you’re looking to relocate to Honolulu, contact one of our excellent Realtors to see how we can help find the right property for you.