In the quest of storage units for rent in Hawaii? Find the perfect unit by looking at the listings above.The main industries in the state of Hawaii are tourism, military, agriculture, and manufacturing. The tourism industry is the largest employer in the state and contributes more than $15 billion to the economy annually. Additionally, Hawaii has the highest rate of civilian military personnel in the United States. Agriculture has been an important part of the Hawaiian economy since its inception, and is still a major source of employment and income. In addition, there are many manufacturing firms in the state, including food processing companies, automotive parts suppliers, and pharmaceuticals.
The labor force in Hawaii is comprised of approximately 637,000 people, with an unemployment rate of 3.7%, which is slightly higher than the national average. (https://www.bls.gov/regions/west/hawaii.htm#eag)
Gross State Product (GSP) of Hawaii in 2021 was $91.1 billion (https://fred.stlouisfed.org/series/HINGSP)
This resulted in Hawaii having the 40th largest GDP in the country according to the American Legislative Exchange Council (https://alec.org/wp-content/uploads/2022/04/2022-15th-RSPS-State-Pages_V3_Final_R1.pdf)
The state has experienced a steady increase in GSP since the early 2000s and is projected to continue to increase in the future.
The economic trends in Hawaii have been positive in recent years. The state has experienced a steady increase in wages, with an increase of 11.3% in 2018 and as of 2022 its ranked in the position 29 in the US ranking of minimum wage (https://alec.org/wp-content/uploads/2022/04/2022-15th-RSPS-State-Pages_V3_Final_R1.pdf)
Additionally, the housing market has remained strong in the state, with the median home price increasing by 5.2% in 2018. The state has also experienced an increase in the number of jobs, with an increase of 5.2% in 2018.
Hawaii currently ranks 30th in terms of GDP per capita, with a GDP of $51,713. (https://www.statista.com/statistics/248063/per-capita-us-real-gross-domestic-product-gdp-by-state/)
Additionally, the state ranks 13th in terms of average hourly wage, with an average wage of $25.10 (https://www.ziprecruiter.com/Salaries/What-Is-the-Average-Hourly-Rate-Salary-by-State)
Overall, the main industries in Hawaii are tourism, military, agriculture, and manufacturing. These industries are contributing to the economic growth of the state, and are expected to continue to do so in the future. Additionally, the state has experienced a steady increase in wages and jobs, and has a high GDP per capita, which is indicative of a strong economy.