2021 Plan of Finance Amortization slide image

2021 Plan of Finance Amortization

STATE O OF 1959 HAWAI Diversified Economy The State's Labor Market is Diversified and Improving ◉ Hawaii's economy has continued to diversify, with 84% of economic activity in non-tourism sectors in recent years (compared to 67% in 1988) Federal (including military), state and local government are stable components of the economy ■ Strong real estate market with increasing prices and sales volume ■ The construction industry remains strong, with large public and private sector capital projects ongoing The State's unemployment rate increased dramatically at the onset of the pandemic but has steadily declined with increased economic and tourism activity and as of August 2021 is at 7.0% Hawaii Nonfarm Employment Base (First 7-Months of 2021) (1) Mining, Logging, Military and Construction 9.2% Government 19.1% Other Services. 3.6% 6.0% Manufacturing 1.8% Trade, Transportation, and Utilities 16.7% Information 1.1% Financial Activities 4.4% Leisure & Hospitality 13.9% Professional & Business Services Education & Health 11.1% Services 13.2% Unemployment Rate (Seasonally Adj. 2016 to August 2021) 25% August 2021 7.0% 5.2% 6 (1) Sources: State of Hawaii, Department of Labor and Industrial Relations. U.S. Bureau of Economic Analysis. U.S. Bureau of Labor Statistics. State of Hawaii Department of Business, Economic Development & Tourism. Preliminary. Source: State of Hawaii Department of Budget and Finance. Jan-16 Jul-16 Jan-17 20% Hawaii U.S. 15% 10% 5% 0% Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21
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