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.

Maui Unemployment graphic.

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.

Maui County had a 2.5% unemployment rate for August, down from July’s 2.7% rate, and also down from the 3.1% rate reported at the same time last year.

The Island of Maui saw a slight decrease in unemployment rates, however rates were down significantly on Lānaʻi and Molokaʻi from month before levels.

Maui recorded a 2.3% rate in August, down from the 2.4% rate in July, that number is also down from the 2.9% recorded the same time last year.

Lānaʻi’s rate of 3.1% was down from the 6% rate reported in July, and down from the 5.5% rate reported at the same time last year.

Molokaʻi continued to have the state’s highest unemployment rate of 7.6%–down from the 9.2% rate in July, but up from the 7.3% rate recorded at the same time last year.

The department reports industry employment gains in few areas including the following job expansions in: Professional & Business Services (+1,300), and Construction (+400).

Job losses were experienced 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).