tidbits from Hawaii’s economy and other interesting places
This Month’s Cover
Our cover was created by Matt Tapia, a nationally recognized illustrator and hand-lettering artist, born and raised in Hawaii. He’s done work for clients ranging from Nike to Zoo York. His approach is holistic and his final products often have a “built” or structural quality to them, even when they are two-dimensional. Above is a working draft of our April cover.
Not in the Workforce
Hawaii’s unemployment rate of 4 percent in December was tied for seventh lowest in the country among the states. But the unemployment rate only reflects the number of people who are actively looking for work and don’t have a job. The labor force participation rate gives a bigger picture: It shows the proportion of adult residents who are working or looking for work. So adult students, at-home parents and retirees are among those not “participating” in the labor force. In December 2014, Hawaii’s labor-force participation rate was 62.0%. The U.S. rate was slightly higher, 62.7%.
Think young people today plan on the fly? Maybe not.
66% Millennials who follow a spending budget.
35% People over 55 who follow a spending budget.
Source: Accenture’s 2014 North America Consumer Digital Banking Survey
Only Half of Hawaii Got a Raise
QMark Research surveyed 400 people statewide for Hawaii Business and asked if they got a raise over the past two years. Here is what those who work outside the home told QMark:
Did you get a raise in the past two years unrelated to a promotion or job change?
1% Refused to answer
58% of female workers got a raise compared with 47% of men.
61% of those with a four-year degree got a raise compared with 46% of those without.
63% of union workers got a raise compared with 48% of nonunion workers.
For those who got a raise(s) over the past two years, how much was the total?
45% 2% or less
30% More than 2% but less than 5%
19% 5% or more
6% Refused to answer
QMark Research surveyed 400 adults by telephone from Feb. 27 to March 7, 2015. The margin of error for a sample of this size (n=400) is +/- 4.90 percentage points with a 95% confidence level.