Posted on: Friday, July 23, 2004

State has lowest jobless rate

By Deborah Adamson
Advertiser Staff Writer

Hawai'i has the lowest unemployment rate in the nation, again.

The statewide seasonally adjusted unemployment rate was 3.1 percent last month, down from 4.4 percent in June 2003, according to state figures announced yesterday. That was low enough to earn Hawai'i the title of lowest in the nation for the second consecutive month.

The national seasonally adjusted unemployment rate stood at 5.6 percent in June.

"We're definitely in the zone now — the full employment zone," said Paul Brewbaker, chief economist at Bank of Hawaii. "It's going to get tighter. The labor market will not ease up here ... The economy is in good shape."

For the first half of 2004, Hawai'i's unemployment rate averaged 3.6 percent compared to 4.4 percent during the first half of 2003, the state Department of Labor and Industrial Relations said.

"A robust local economy has accounted for the sustained job growth that has added 12,000 new jobs since June of last year," said labor department Director Nelson Befitel.

In June, Hawai'i's seasonally adjusted labor force totaled 629,450, comprising 610,100 employed and 19,350 unemployed, the department said.

Among the counties, Honolulu had the lowest unemployment rate in June at 3.0 percent, followed by Maui at 3.7 percent, Kaua'i at 4.1 percent and the Big Island at 5.6 percent. Moloka'i has the highest unemployment rate of any island, with 15.7 percent in June.

Reach Deborah Adamson at dadamson@honoluluadvertiser.com or 525-8088.