According to a report released by the state Department of Labor and Industrial Relations, the seasonally adjusted unemployment rate dropped to 4.3 percent in August 2014. This represented the lowest level in the last six years, and a significant decrease since the same month a year prior when it was 4.8 percent. As points of comparison, Hawaii reached its highest unemployment rate in July and August of 2009 when it hit 7.1 percent, and the all time lows were from October, November and December 2006 when it was 2.3 percent.
Honolulu County had the lowest unemployment rate at 3.8 percent. Maui County had the second lowest at 4.2 percent, followed by Kauai County at 4.7 percent. Hawaii County (Big Island of Hawaii) had the highest unemployment rate at 5.3 percent. County data is not seasonally adjusted. The national unemployment rate (seasonally adjusted) was 6.1 percent in August.
Source: Honolulu Star Advertiser, 9-20-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
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