Unemployment Rate at 4.5 Percent in December 2013

According to a report released by the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate was at 4.5 percent in December 2013. This was a slight increase from the 4.4 percent posted the month before.  However, the DLIR stated that the slight rise in unemployment was due to more workers entering the work force and looking for jobs, rather than people losing their jobs.  Leroy Laney, a professor of economics and finance at Hawaii Pacific University, commented, "If the job count is going up, that means the economy is doing better. Tourism has been doing well for some time, and construction is beginning to ramp up because of things like condominium development in Kakaako."

Honolulu County had the lowest unemployment rate at 3.8 percent.  Maui County had a 4.6 percent unemployment rate.  Kauai County had a 5.1 percent unemployment rate. Hawaii County had a 5.9 percent unemployment rate.  County data is not seasonally adjusted. Nationally, the unemployment rate was 6.7 percent in December 2013.

Source: Honolulu Star Advertiser, 1-28-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
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