According to a report released by the state Department of Labor and Industrial Relations, Hawaii’s unemployment rate fell to 6.1 percent in August 2012. This was the lowest rate posted in over three years. However, experts caution that this was in part due to the fact that some job seekers are simply giving up in their searchers, creating a smaller workforce in general. Executive Director of the University of Hawaii Economic Research Organization, Carl Bonham, stated, “People who leave the labor force are no longer counted as unemployed. That’s one of the reasons you see a drop in the unemployment rate. When you see the labor force shrink by 3,850 people, that’s not a good sign.”
As a comparison, the unemployment rate for Honolulu County was 5.1 percent. Maui County had a 6.1 percent unemployment rate and Kauai County had a 7.0 percent unemployment rate. Hawaii County (Big Island of Hawaii) had the highest rate at 8.3 percent. The national unemployment rate was 8.1 percent.
Source: Honolulu Star Advertiser, 9-21-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
