State's jobless rate falls to 3%

Associated Press

Hawai'i's unemployment rate continues to fall well below national levels.

State labor officials yesterday said July's jobless rate fell to 3 percent, down from 4.4 percent in July 2003.

"Hawai'i's continued job growth and the significant reductions in our unemployed population reflect a healthy economy that shows no signs of slowing down," said state Labor Director Nelson Befitel.

The national jobless rate fell from 6.2 percent in July 2003 to 5.5 percent last month.

The state Department of Labor and Industrial Relations said the number of people employed in the Islands has grown by more than 8,000 since the beginning of the year.

From July 2003 to July 2004, the number of employed rose by 19,800.

In July, Hawai'i's seasonally adjusted labor force totaled 630,150, comprised of 611,400 employed and 18,750 unemployed, the department said.

Hawai'i's economy is being driven by the robust tourism industry.