Hawaii's Jobless Rate Lowest In All 50 States
With an unemployment rate of 3.3%, Hawaii posted the nation's lowest jobless rate for 2004. This data, reported by Pacific Business News, was just released by the federal Bureau of Labor Statistics. As such, Hawaii enjoyed a rate significantly below the national unemployment rate of 5.5%.
Key factors in this #1 ranking were Hawaii's hot real estate market, strong tourism, and military and civilian construction...as they combined to create thousands of new jobs.
Economists generally consider an unemployment rate of 3% to be the equivalent of "full employment."
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