The University of Hawaiʻi Economic Research Organization (UHERO) in UH Mānoa’s College of Social Sciences has launched a new tool that captures the state’s evolving economic landscape during COVID-19.
The UHERO Economic Pulse index considers 18 factors, such as the number of deplaning passengers in Hawaiʻi, percentage of businesses open relative to January 2020, continuing claims of unemployment insurance benefits and average level of job postings relative to January 4–31, 2020.
The UHERO Economic Pulse index suggests that after experiencing a dramatic drop when the COVID-19 pandemic hit in March 2020, Hawaiʻi began a slow recovery process, which faltered again in mid-July just after the expiration of the Paycheck Protection Program and an increased number of COVID-19 cases.
UHERO said the timely information provided by a variety of sources used to calculate the index is essential for businesses and public leaders to make the best possible policy decisions for the state.
