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Impact of Hawaiian Economy on the Average Hawaiian
Rachael Schultz
• Tourism [Alix]—largest industry• Agriculture [Christine]• Resources and power• Manufacturing
Introduction to Components of Hawaiian Economy
Unions
• 1 in 4 Hawaiian workers belong to a union• Most unionized state in country• ILWU and Hawaii Government Employees
Association
• Centralized tax system• General excise tax• Individual income taxes• Federal grants-in-aid
According to 2000 Census…
Population Unemployed (#/%)
Avg household income
Hawaii 1,211,537 35,8866.3
63,065
STL 2,003,762 56,5095.5
51,820
Cost of Living
100% Composite Index
12.95% Grocery Items
28.99% Housing
10.02% Utilities
11.98% Transportation
4.07% Health Care
31.99% Misc. Good and Services
Honolulu, HI
166.3 157.6 248.8 139.9 128.1 117.6 123.8
St. Louis, MO
89.5 99.3 77.8 86.0 94.0 98.3 94.3
If living in STL and thinking about moving to HI…100*[(HI-STL)/STL]=100*[(166.3-89.5)/89.5]=need 85.81% increase in after-taxes income needed to maintain present lifestyle
[ACCRA Cost of Living Index—2009 Annual Avg Data
Tbone steak
½ gallon milk
Dozen eggs
coffee
pizza sugar Apt rent
Mort Rate (%)
Gasoline
Doctor
Honolulu, HI
9.78 3.64 2.83 6.55 18.06 3.09 2,489 4.94 2.639 115.23
St. Louis, MO
9.09 1.99 1.52 3.39 10.38 2.05 762 5.05 1.943 83.28
Why is there such a high cost of living?
• Island, imports– Transportation costs included
• Housing– Import building materials– Limited land• corporations
– Possible solutions?
Mobility
• “Productive resources are mobile. This condition implies that if a potential seller identifies a profitable business opportunity in a market, he or she will be able to obtain the labor, capital, and other productive resources necessary to enter that market. By the same token, sellers who are dissatisfied with the opportunities they confront in a given market are free to leave that market and employ their resources elsewhere.”
• But…– Island– Economic resources– Stuck
Bibliography
• Britanica• ACCRA• BLS• Mcdc2.missouri.edu
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