Unemployment remains at 2.9% statewide; Maui unemployment at 3.6%

State unemployment has remained steady at 2.9% for the fifth consecutive month, which is under the national average of 4.1% for October 2024. In Maui County, the unemployment rate was 3.6% in October, down from the 4% rate in September, according to state data.

The unemployment rate figures for the state of Hawai‘i and the US in the report are seasonally adjusted in accordance with US Bureau of Labor Statistics methodology. The not-seasonally adjusted rate for the state was also 2.9% in October, dropping about a half-percent from September and August. County unemployment rates are not seasonally adjusted.

According to the Hawai‘i State Department of Business, Economic Development and Tourism, 651,850 persons were employed and 19,300 were unemployed, for a total seasonally adjusted labor force of 671,150 statewide. Nationally, the seasonally adjusted unemployment rate was 4.1% in October, the same as in September.

In a separate measure of employment, total nonagricultural jobs decreased by 200 month-over-month, from September 2024 to October 2024. Job gains were experienced in Construction (+900); and Manufacturing (+100). Employment in Trade, Transportation & Utilities; Information; and Financial Activities remained unchanged. Job losses occurred in Other Services (-200); Professional & Business Services (-400); Leisure & Hospitality (-500); and Private Education & Health Services (-1,300). Within Private Education & Health Services, job contraction was spread out over the four major subsectors of Health Services, namely Ambulatory Services, Hospitals, Nursing & Residential Care Facilities, and Social Assistance. Government employment went up by 1,200 jobs, mostly due to strong seasonal growth of workers in the University of Hawai‘i system.

Year-over-year (October 2023 was the 43rd month of pandemic effects), nonfarm jobs have gone up by 9,400, or 1.5%. However, in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 16,900, or -2.6%.