Peter Fuleky
Latest Jobs Report Suggests Most Industries Recovering
Although slightly slower than in the second half of last year, conditions in the local job market continued to improve in the first quarter of 2013 according to the latest figures from the Bureau of Labor Statistics (BLS). The total number of nonfarm jobs in the state grew by 1.6% in the first quarter of […]
Read MoreBenchmark Revision of Non-Farm Payrolls
The annual benchmark revision of employment statistics from the US Bureau of Labor Statistics (BLS) indicated that 4,000 more jobs were created in Hawaii over the past two years than previously thought. The benchmarking process is an annual revision that incorporates unemployment insurance tax records to supplement preliminary payroll estimates, which are based on employer […]
Read MoreAn Update on Inflation Expectations
Despite the consumer price index only growing by a moderate 2% over the 12 months ending in February, some investors are worried about the possibility of higher inflation in the coming years. They can take advantage of Treasury Inflation Protected Securities, or TIPS, a bond type whose payments increase as the consumer price index rises, […]
Read MoreAirlines Bet Big On Hawaii With 275,000 Additional Seats
The latest infrastructure report from the Hawaii Tourism Authority suggests that airlines are betting big on Hawaii and increasing airlift to the state. HTA expects the number of seats on direct flights to Hawaii will exceed 2.6 M for the three month period between February and April 2013. This is an increase of more than 11% from […]
Read MoreDetails of the Fiscal Cliff Deal
On New Year’s Day, almost 24 hours after the deadline had passed, members of Congress approved the American Taxpayer Relief Act that shielded the majority of Americans from the effects of the “fiscal cliff”, which threatened to send the economy back into recession. The key elements of the fiscal cliff deal are the following: Up […]
Read MoreIt’s the Economy, Stupid! (Or Is It?)
The popular media is frequently citing opinion polls that indicate preferences for one presidential candidate or another. Historically, analysts have found that economic conditions are among the most important factors influencing voting behavior, and this may be especially true this year amid ongoing economic challenges. In order to find a causal link between economic conditions […]
Read MoreSome Perspectives on Another Weak Employment Report
In April, US non-farm payroll jobs rose by a meager 115,000, and the unemployment rate fell slightly from 8.2% to 8.1% according to the Bureau of Labor Statistics. The lower unemployment rate resulted from a 196,000 decline in employment and an even larger 342,000 drop in the labor force. The civilian labor force participation rate fell […]
Read MoreHawaii’s unemployment rate revised up for 2009-2011
According to the latest regional labor force data reported by the Bureau of Labor Statistics (BLS), the seasonally adjusted unemployment rate in Hawaii fell by 0.1% point to 6.5% in January 2012. However, the 0.1% drop was entirely the result of a 0.2% decline in the labor force. In fact, the employment level fell by 0.1%, and […]
Read MoreOil Prices and Hawaii Travel
Oil prices have fluctuated widely in recent years. In our recent County Forecast Report, we discussed how oil affects the overall economy. Because fuel costs represent about 40% of airline expenses, they can have a large effect on the profitability and behavior of airlines, and ultimately the Hawaii tourism industry. The price of oil has a […]
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