One of the state’s top economists predicts that the number of visitors coming to Hawaii is likely to remain well below pre-pandemic levels for at least the next year.
Local governments in Hawaii have not yet faced the acute budget woes being felt at the state level. That may change if more local businesses are forced to close.
While negotiations over additional federal assistance to cities and states remain deadlocked, Hawaii’s chief executive says the state may be forced to furlough workers in the coming months if Congress fails to act.
The federal government’s $600 per week supplement to unemployment benefits officially expired last week. The benefit injected more than $100 million per week into the local economy.
The continuing COVID-19 crisis is costing lives around the world, and is also hitting economies. From job losses to business closings, a growing number of countries are sliding into deep recessions — and that includes in the Asia Pacific.
State lawmakers return to the Capitol today for what is expected to be the final three weeks of this year’s legislative session. Their main focus will be allocation $618 million in federal pandemic assistance.
Women in Hawaii are more likely to have lost their jobs as a result of the COVID-19 recession than male residents, despite equal representation in the workforce.
With economists predicting short-term unemployment rates as high as 25 percent, the economic impact of the coronavirus pandemic will dwarf the Great Recession.
BERKELEY HEIGHTS, N.J. — President Donald Trump's top economic adviser is playing down fears of a looming recession after last week's sharp drop in the financial markets and predicting the economy will perform well in the second half of 2019.
