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Study rates Honolulu economy as one of nation’s strongest

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Honolulu has one of the top 20 strongest economies in the nation, according to a new report from the Brookings Institution.

The report by the Washington, D.C.-based think tank showed Honolulu scored well in a number of economic measures in the third quarter, including having the third lowest unemployment rate out of the top 100 metropolitan areas surveyed. Honolulu’s 5.4 percent jobless rate compared with the national average of 9.4 percent.

Honolulu also had the 17th lowest number of bank-owned homes at 2.16 per 1,000 mortgageable properties. The report also showed that Honolulu’s housing prices were down 14.4 percent in the fourth quarter from the peak in early 2007, ranking it 45th nationally in terms of price decline.

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