WASHINGTON — A new report released Thursday shows Hawaii has the fifth-largest economy in the United States, with $1.9 trillion in economic output.
The report, from the International Monetary Fund, found that Hawaii ranked second among states after New York, which had $1 trillion in GDP last year.
Hawaii ranked third behind Florida and Nevada.
As a state, Hawaii ranks second in per capita gross domestic product and is the largest employer in the state.
Its economy has grown by more than 5% in real terms since 2005.
It has been one of the fastest growing states in the country.
According to the report, Hawaii is among the most developed states in America, and the number of companies in the Hawaiian economy has more than doubled in the last decade.
Among the state’s most important industries, the report found that the tourism industry contributes $1 billion a year to the state economy.
While the report doesn’t offer any economic forecasts, it suggests Hawaii will remain a vibrant economic force for decades to come.
“Hawaii’s economic growth has been remarkable over the past five years and its strong economy is expected to continue for years to come,” said Kristin D. Smith, a research associate at the IMF.
This is a big boost to the island’s economy, said Mark Schlesinger, a senior vice president at the International Council of Shopping Centers.
There’s a lot of competition for jobs, and you can’t go to China or India and get a job,” he said.
Smith noted that the U.S. unemployment rate dropped to 8.5% in June, the lowest rate since 2008.
On the other hand, the U,S.
labor force participation rate has risen slightly from 61.9% in April to 62.7% in September, and in 2020, the labor force has increased to 62% compared to 62%.
As of this past weekend, Hawaii’s unemployment rate was 3.9%, up from 3.7%, according to the latest Labor Department report.
At the beginning of this year, Hawaii had the fifth lowest unemployment rate in the U