Unemployment Rate Down to 4 Percent in November 2014

According to a report issued by the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate fell to 4 percent during November 2014. Eugene Tian, the chief economist for the state Department of Business, Economic Development and Tourism, commented, "It's very good news. The labor market has continued to improve and the labor market is in the best condition since the recession." Honolulu had the lowest unemployment rate at 3.8 percent.  Maui County came in second at 4.2 percent.  Kauai County and Hawaii County posted a 4.6 percent and 5.1 percent unemployment rates respectively. The national unemployment rate, in comparison, was 5.8 percent for November.

Source: Honolulu Star Advertiser, 12-19-2014, www.staradvertiser.com
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Unemployment Hits Six Year Low in October 2014

According to a report issued by the state Department of Labor and Industrial Relations, the state of Hawaii's unemployment rate fell to a six-year low of 4.1 during the month of October 2014.  Eugene Tian, the chief economist for the Department of Business, Economic Development and Tourism, commented, "It's good news because 4.1 percent is below the natural rate of unemployment for Hawaii, which we believe is about 4.5 percent. It's an indication that the labor market is continuing to improve. The low was 2.3 percent, which means we are improving but still have room to grow. There is no such thing as zero unemployment because there's always people changing from one job to another, and there's new graduates."

Honolulu County had an unemployment rate of 3.9 percent.  Maui County had a 4.3 percent unemployment rate. Kauai County had an 4.7 percent unemployment rate, while Hawaii County had a 5.3 percent unemployment rate.

Source: Honolulu Star Advertiser, 11-21-2014, www.staradvertiser.com
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State Unemployment Rate Drops to 4.2 Percent in September 2014

According to a report issued by the state Department of Labor and Industrial Relations, Hawaii's unemployment rate dropped to 4.2 percent in September 2014. Leroy Laney, a professor of economics and finance at Hawaii Pacific University, stated, "It continues to be favorable news, and it's a gradually improving economy that we hope continues. I would emphasize the word ‘gradually' because there are some pockets of weakness in the economy. We're not approaching a boom this time, but we are doing well."  Laney added that the tourism industry has not been as robust this year as economist had initially forecast, but noted that the construction industry has been improving to offset this.

In comparison, the U.S. unemployment rate was 5.9 percent for September 2014.

Source: Honolulu Star Advertiser, 10-21-2014, www.staradvertiser.com
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Unemployment Dropped to 4.3 Percent in August 2014

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
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Hawaii's Unemployment Rate Holds Steady at 4.4 Percent in June 2014

According to a report released by the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate was at 4.4 percent in June 2014, exactly at the same level posted in April and May. In comparison, the seasonally adjusted unemployment rate for June 2013 was 4.7 percent.  Leroy Laney, a professor of economics and finance at Hawaii Pacific University, commented, "The overall unemployment rate is good news. It seems to be stabilizing around that rate, but that's not a bad number to stabilize at given the national unemployment rate and the unemployment rate at a number of other states. We're still near the bottom, and that's a positive sign for the economy.   There tends to be a labor shortage if it gets down to the 3 percent range, but I don't see the underlying strength of the economy being that strong. If construction were to have another shot in the arm from rail transit or something like that, that would put us over the top and lower the unemployment rate. An additional boost from tourism might make some difference, and let's not forget about the domestic sectors of the economy like business and professional services, education and health. Any of those things could contribute."

Honolulu County posted a 4.5 percent unemployment rate, Maui County had a 5.1 percent unemployment rate. Kauai County and Hawaii County (Big Island of Hawaii) came in at 5.4 percent and 6.6 percent respectively. County jobs data are not seasonally adjusted.

Source: Honolulu Star Advertiser, 7-18-2014, www.staradvertiser.com
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Hawaii Unemployment Rate Steady at 4.4 Percent in May 2014

According to the State of Hawaii's Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate held steady at 4.4 percent in May 2014. The last time the unemployment rate was this low was in August 2008.  In comparison, the most recent peak occurred during the Great Recession in July and August of 2009 when unemployment hit 7.1 percent.

One thing that the state noted was that the construction industry has been gaining jobs at a steady pace.  Leroy Laney, a professor of economics and finance at Hawaii Pacific University, commented, "The increase in construction workers reflects what's going on in the construction sector, which is a positive sign because it remained dormant so long.  It can be expected to continue with all the construction going on in Kakaako and various places. The unemployment rate remains one of the lower unemployment rates in the country.  It's not a negative sign that it remains at 4.4 percent. At least it's not rising."

Source: Honolulu Star Advertiser, 6-20-2014, www.staradvertiser.com
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Unemployment Drops to 4.4 Percent in April 2014

According to the state of Hawaii's Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate was just 4.4 percent in April 2014. This was a slight decrease from the 4.5 percent that was posted in March.  Honolulu County posted a 3.8 percent unemployment rate.  Maui County had a 4.6 percent unemployment rate.  Kauai County had a 5 percent unemployment rate.  Hawaii (Big Island) County had a 5.7 percent unemployment rate. County unemployment data is not seasonally adjusted.

Source: Honolulu Star Advertiser, 5-16-2014, www.staradvertiser.com
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Unemployment Rate Falls to 4.5 Percent in March 2014

According to a report issued by the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate fell to 4.5 percent in March 2014.  This is the lowest level that it has been in over five years. Honolulu County had the lowest unemployment rate at 4.0 percent.  Maui County had a 4.9 percent unemployment rate.  Kauai County had a 5.3 percent unemployment rate. Hawaii County (Big Island of Hawaii) had a 5.9 percent unemployment rate. County data is not seasonally adjusted.  Nationally, the unemployment rate was 6.7 percent.

Source: Honolulu Star Advertiser, 4-18-2014, www.staradvertiser.com
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Hawaii Unemployment Rate Was 4.6 Percent in February 2014

According to a report issued by the state Department of Labor and Industrial Relations, the state of Hawaii had a seasonally adjusted unemployment rate of 4.6 percent in February 2014. According to the state Department of Business, Economic Development and Tourism, Hawaii's job market is expected to continue to improve in 2014 and 2015. DBEDT forecasts that the average unemployment rate will be 4.2 percent in 2014 and will decrease to 4 percent in 2015. As a point of comparison, the nation as a whole had an unemployment rate of 6.7 percent in February.

Source: Honolulu Star Advertiser, 3-28-2014, www.staradvertiser.com
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More People Employed in Hawaii Than Ever Before

The state of Hawaii posted an unemployment rate of 4.6 percent in January 2014, a decrease of 0.1 percent from the month before.  However, the state Department of Labor and Industrial Relations are quick to point out that there were 625,643 people employed in January, which sets a new record for the most number of people employed ever.  The previous record was posed in January 2007 when 625,345 people were employed.  Hawaii Pacific University professor of economics and finance, Leroy Laney, stated, "It's a positive sign, no doubt about that. I think the number of people employed probably is affected by a growing labor force. As the population grows, the labor force grows, so the number of employed doesn't totally reflect an improving economy, but I suspect some of that does."  Eugene Tian, the economic research administrator for the state Department of Business, Economic Development and Tourism, added, "Labor data shows that Hawaii's labor market continues to improve with unemployment rate among the lowest in the nation. It is encouraging to see that the labor force is approaching the 2011 level."

In January 2014, Honolulu posted an unemployment rate of 4.2 percent.  Maui County had a 5 percent unemployment rate.  Kauai County had a 5.4 percent unemployment rate. Hawaii (Big Island of Hawaii) County posted a 6.1 percent unemployment rate.  County data is not seasonally adjusted.  Nationally, the unemployment rate was 6.6 percent in January.

Source: Honolulu Star Advertiser, 3-18-2014, www.staradvertiser.com
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Honolulu Unemployment Rate at 3.8 Percent in December 2013

Accord to the U.S. Labor Department, Honolulu was tied for the 19th lowest unemployment rate out of the largest 372 metropolitan areas in the country in December 2013 with a 3.8 percent rate.  This was a decrease from the 4.1 percent posted in November 2013.   Bismarck, North Dakota had the lowest rate at 2.8 percent and Yuma, Arizona had the highest at 27.1 percent.  Nationwide, the unemployment rate was 6.7 percent.

Source: Honolulu Star Advertiser, 2-10-2014, www.staradvertiser.com
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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
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Hawaii Unemployment Rate at 4.4 Percent in October 2013

According to the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate was 4.4 percent in October 2013.  This was a slight increase from the 4.3 percent posted in September and August of this year.  However, state officials note that even with this increase, Hawaii's unemployment rate ranked it as the fourth lowest state in the nation and significantly lower than the national average of 7.3 percent. The University of Hawaii Economic Research Organization (UHERO) has forecast that the average unemployment rate for Hawaii will be 4 percent in 2014 and 3.7 percent in 2015.

Source: Honolulu Star Advertiser, 11-23-2013, www.staradvertiser.com
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Honolulu Has 8th Lowest Unemployment in Country

According to the U.S. Department of Labor, the city and county of Honolulu had an 3.8 percent unemployment rate during the month of August 2013, which tied the city for the eighth lowest jobless rate in the country out of the 347 metropolitan areas surveyed by the Labor Department.  In comparison, Maui County posted a 4.5 percent unemployment rate, while Kauai County had a 4.9 percent unemployment rate and Hawaii (Big Island of Hawaii) County had a 5.8 percent unemployment rate.  Nationally, there was a 7.3 percent unemployment rate.  Please note that national figures are seasonally adjusted, while metropolitan and county data are not.

Source: Honolulu Star Advertiser, 10-31-2013, www.staradvertiser.com
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Federal Grant Will Help State Tackle Long-Term Unemployment

The state of Hawaii has received a $1.8 million federal grant from the Workforce Investment Act Dislocated Worker Program to help provide job training for those individuals who have been unemployed for 27 weeks or longer.  The grant would help by reimbursing Hawaii employers up to 90 percent of the wages that they pay workers while they hire and train them.  The Workforce Investment Act hopes to help those who may need to upgrade their job skills in order for them to get hired.

Executive Director of the Job Quest job fair, Beth Busch, thinks that this federal grant will provide some people with an excellent resource.  Busch stated, "We have a skills gap in which many of those who are unemployed don’t have the skills employers are looking for.  We just don’t have as broad a range of industries in Hawaii, which makes branching out and getting training even more important here. People need to open their minds. They need to know that some jobs are never coming back.”  For more information go to labor.hawaii.gov/wdd/onestop

Source: Honolulu Star Advertiser, 9-25-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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Hawaii's Unemployment Rate Falls to 4.3 Percent in August 2013

According to the state Department of Labor and Industrial Relations, Hawaii's seasonally adjusted unemployment rate fell to 4.3 percent in August 2013.  This marked the lowest level since July 2008, when the seasonally adjusted unemployment rate was 4.1 percent.  For August, Honolulu County had a 3.7 percent unemployment rate.  Maui County had a 4.5 percent rate.  Kauai County posted a 4.9 percent rate and Hawaii (Big Island) County had a 5.8 percent rate.  County data are not seasonally adjusted.  In comparison, the national unemployment rate in August was 7.3 percent.

Source: Honolulu Star Advertiser, 9-20-2013, www.staradvertiser.com
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More Potential Employers Attend Job Quest Fair in Honolulu

A total of 176 employers attended the tri-annual Job Quest job fair at the Neil Blaisdell Center in Honolulu to interview prospective job seekers.  This was an increase from past events and included 16 companies that had never recruited at Job Quest before.  Executive Director for Job Quest, Beth Busch, commented, "Employers had been kind of holding back and waiting to really hire until they thought that the economy was going to get better and stay better.  I think people feel like it's really back, that we're really headed in the right direction and that it's not going to fall out from under us.  For a while the mentality on the job seeker's side was just ‘I need a job.' Now we're back to seeing people at the job fair who are comfortable enough in the economy that they can look for a better job."

Source: Honolulu Star Advertiser, 9-18-2013, www.staradvertiser.com
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Honolulu's Unemployment Rate Drops to 4.2 Percent in July 2013

According to the U.S. Labor Department, the city of Honolulu had a 4.2 percent unemployment rate in July 2013, tying it for the 13th lowest jobless rate among 372 metropolitan areas nationwide.  Hawaii unemployment experts note that Honolulu County has fared much better then the other outer islands, thanks to a stronger economy and increased tourism. Maui County had a 4.9 percent unemployment rate while Kauai County had a 5.3 percent unemployment rate. Hawaii County (Big Island of Hawaii) had the highest unemployment rate at 6.8 percent. County unemployment data is not adjusted for seasonal variations.

Source: Honolulu Star Advertiser, 8-29-2013, www.staradvertiser.com
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Unemployment Rate For Hawaii Drops to 4.5 Percent in July 2013

According to a report issued by the state's Department of Labor and Industrial Relations, the unemployment rate dropped to 4.5 percent in July 2013.  This is the lowest rate that the state of Hawaii has seen in almost five years.  Honolulu County had the lowest rate at 4.2 percent.  Maui County had a 4.9 percent unemployment rate. Kauai County had a 5.3 percent rate.  And Hawaii (Big Island of Hawaii) County had a 6.8 percent rate.  County data are not seasonally adjusted while the entire state's unemployment rate is seasonally adjusted.  Chief economist for the state, Eugene Tian, commented, "The labor market is looking pretty good.  We're seeing steady improvement with the unemployment rate declining and the job count increasing."

Source: Honolulu Star Advertiser, 8-16-2013, www.staradvertiser.com
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Honolulu's Unemployment Rate Increases Slightly in June 2013

According to a report released by the U.S. Labor Department, Honolulu's unemployment rate increased to 4.7 percent in June 2013 from the 4.0 percent posted in May.  This unemployment data is not adjusted for seasonal changes, and experts noted that this influx may be due to college graduates and those still in schools looking for jobs over the summer.  Government officials also noted that in June 2012, Honolulu had a 6 percent unemployment rate.  Nationally, the unemployment rate was 7.6 percent in June 2013.

Source: Honolulu Star Advertiser, 8-1-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, REALTOR®
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