Think About It: Economic Semi-Recovery - KFVE, K5-Hawaii News, Weather and Sports

December 30, 2013

Think About It: Economic Semi-Recovery

According to a recent article by CNN, the following are facts, and I quote: "…the economy has moved ahead this year. The stock market, for example, has surged -- the Nasdaq is up nearly 40% since January. Unemployment is at a five-year low point. Auto sales are at a seven-year high. Gas prices have dropped. And the housing sector, which dragged the U.S. into recession five years ago, is rebounding." So why don't we all feel better about the economy?

There is concern, locally and nationally, that this growth might not last. There is concern that our legislators will revert back to infantile in-fighting over the next round of budget cuts and policies.  Health care is obviously an issue for many. There is concern that, outside of construction and tourism, Hawaii doesn't have any other steady revenue streams on the near horizon. Many of us know of family and friends who have looked long and hard, yet simply can't find a job. Companies adjusted to the recession by asking employees to do more with less from 2009 onward, and some of those companies are also still unsure, and thus unwilling to start rehiring.

A unique problem in Hawaii is- where do you go? You can't simply drive a couple of hours looking for a new job or community, because there is nothing or nowhere to go to. So we enter 2014 with renewed economic hope based on local and national business factoids, but the rising economic trends and job market hopes in Hawaii and elsewhere are being viewed with a very cautious optimism as is just doesn't feel like a complete recovery for all just yet. Perhaps 2014 will bring us that sense of breathing a bit easier here in Hawaii. Think about it…

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