Hawaiʻi Unemployment Rate Lowest Since April 2007
The seasonally adjusted unemployment rate in Hawaiʻi for August was 2.6%, the lowest since April 2007. The new data was released today by the state Department of Labor and Industrial Relations.
According to the new data, 672,350 were employed and 18,050 unemployed in August for a total seasonally adjusted labor force of 690,400. “A 2.6% unemployment rate is essentially full employment according to conventional economic theory,” said Linda Chu Takayama, DLIR Director.
Hawaiʻi County had a 2.8% unemployment rate for August, down from July’s 3.3% rate, and also down from the 3.8% rate reported at the same time last year.
The department reports total nonagricultural jobs decreased in August over July by 2,500.
Among the major industry groupings, there were job gains in Professional & Business Services (+1,300) and Construction (+400). Most of the employment expansion in Professional & Business Services was in Administrative & Support & Waste Management & Remediation Services, more specifically in Temporary Help Services.
Job losses occurred in Information (-100), Manufacturing (-300), Financial Activities (-400), Other Services (-400), Leisure & Hospitality (-800), Educational & Health Services (-1,300), and Trade, Transportation, & Utilities (-1,400).
The report states that within Educational & Health Services, much of the decline was in Health Care and Social Assistance, most notably in Ambulatory Health Care Services. Job contraction in Retail Trade was the largest factor in the drop in Trade, Transportation, & Utilities. Government employment rose by 500 jobs. Over-the-year, total nonfarm jobs have expanded by 3,800.