The State Department of Labor and Industrial Relations reported that the August 2012 unemployment rate was 6.1%, which is well below the national average, and the lowest Hawaii has seen since 2009.
Economics Careers in Hawaii’s Tourism, Energy and Government Sectors
Tourism isn’t the only big business on the islands. There are also large corporations that call Hawaii home. Business and managerial economists in these companies track trends in the market to design strategies to maximize profits. Some of these businesses include:
- Asentra, Honolulu
- Hawaii Energy Connection, Waipahu
- Sunetric, Kailua
Opting for a public sector economics career is a popular choice for economists around the country. This can be especially exciting where there’s booming natural resources, tourism, and a blossoming Native Hawaiian government is finally coming to fruition. Native Hawaiians were the last indigenous group in the US to be allowed to establish their own governments in 2011. An economist who works for the government is tasked with working closely with officials to map out the best course of spending and increasing public funds. Consider these Hawaiian-based agencies:
- Department of Business, Economic Development and Tourism
- US Coral Reef Task Force
- US Department of Energy
There are a number of associations in Hawaii geared towards economist careers and networking opportunities:
- Hawaii Economic Association
- Hawaii Organic Farmers Association
- University and college alumni clubs
Economics Salaries in Hawaii
Economists fare well on the islands according to the Bureau of Labor Statistics. The average salary for an economist on the island is $62,520 or $30.06 per hour. There are currently 60 public sector economists working in Hawaii, and many others with backgrounds in managerial and business economics within the private sector.