March unemployment in Hawaiʻi remains at 3.1%; Maui Island unemployment is 4.9%
The non-seasonally adjusted unemployment rate for Maui Island was 4.9% in March 2024, compared to 5.9% the previous month, and 3.0% at the same time in 2023. The data was included in a new report released today from the Hawaiʻi Department of Business, Economic Development and Tourism.
The island of Molokaʻi has an unemployment rate of 3.4%, compared to 1.2% the month before, and 4.5% at the same time last year. The island of Lānaʻi had an unemployment rate of 1.6% in March, unchanged from the previous month, and down from the 2.5% reported in March 2023.
Combined, the three islands that make up Maui County had an unemployment rate of 4.8%, down from the 5.9% rate in February, and the 3.0% rate in March 2023.
The Hawai‘i State Department of Business, Economic Development and Tourism announced that the seasonally adjusted unemployment rate for March was 3.1%, the same as in January and February. In March, 652,150 persons were employed and 21,000 were unemployed, for a total seasonally adjusted labor force of 673,150 statewide. Nationally, the seasonally adjusted unemployment rate was 3.8 percent in March, down from 3.9 percent in February.
The unemployment rate figures for the state of Hawai‘i and the US are seasonally adjusted, in accordance with US Bureau of Labor Statistics methodology. The not-seasonally adjusted rate for the state was 2.8% in March, compared to the revised rate of 3% in February.
In a separate measure of employment, total nonagricultural jobs increased by 3,000 month-over-month, from February 2024 to March 2024. Job gains were experienced in Construction (+800); Private Education & Health Services (+700); Trade, Transportation & Utilities (+400); Professional & Business Services (+300); Leisure & Hospitality (+300); and Information (+200). Within Private Education & Health Services, the bulk of the expansion was in Health Care & Social Assistance. Employment remained stable in Manufacturing and in Other Services.
Job losses occurred in Financial Activities (-100). Government employment went up by 400 jobs. Year-over-year (March 2023 was the 36th month of pandemic effects), nonfarm jobs have gone up by 5,000, or 0.8%. However, in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 18,400, or -2.8%.
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