Hawaii, which has the largest number of U.S. permanent residents in the country, has seen a lot of growth in the last decade, with the unemployment rate falling from 7.1% in 2014 to 5.5% in 2017, according to the latest data from the Bureau of Labor Statistics.
The state has also seen an increase in its manufacturing jobs, with jobs in manufacturing accounting for 16% of total jobs in the state in 2017.
Hawaii is now a state that can’t keep pace with the rest of the country in terms of economic growth, according for U.N. chief Ban Ki-moon.
“Hawaii is one of the fastest-growing states in the U.K. It’s really going in the right direction.
And it’s going in a direction that has to be shared with the country,” Ban said Monday at the U-N headquarters in New York City.
The United Nations’ International Monetary Fund (IMF) said in March that Hawaii’s economy was the most in the world with annual economic growth of 5.1%.
The state, which received an “A” grade from the IMF, is expected to add around 500,000 jobs this year, according the state Department of Economic Development and Industries.
The tourism industry has been the strongest part of Hawaii’s recovery, with job growth up from 2.6% in 2018 to 2.7% in 2019, according official figures.
The island is also home to many of the nation’s most important resorts, with hotels, golf courses and oceanfront villas accounting for almost a quarter of total tourism spending.
While many of Hawaiis economy is centered around the tourism industry, a few other industries are growing.
The health and agriculture industries have been the biggest beneficiaries of the economy’s recovery.
Health care has gained more than 4 million jobs in Hawaii, the largest gain of any industry, according state officials.
Tourism, on the other hand, is responsible for a significant portion of the state economy, with hotel occupancy accounting for 40% of all jobs in 2018, according officials.
The Hawaii Tourism Industry Council reported in March its latest figures on the state of the tourism business, and its CEO, Todd Kaul, attributed the recent economic growth to the tourism boom.
“Hawaii’s economy has been on the rise for over a decade, but we’ve seen the benefits trickle down to the residents, tourists and businesses in the entire state,” Kaul said.