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The Honolulu Advertiser

Posted at 11:28 a.m., Monday, November 22, 2004

Hawai'i jobless rate rises to 3.3 percent

By Sean Hao
Advertiser Staff Writer

Hawai'i's unemployment rate rose for a second straight month, to 3.3 percent in October. but remained well below the national rate of 5.5 percent.

Economists have forecast that growth in Hawai'i's economy, which has sizzled for the past year or longer, could begin slow slightly next year.

The October jobs report showed a decline in information, real estate and administrative jobs. That contributed to an increase in the number of unemployed by 1,000 to 20,600.

Hawai'i's jobless rate hit a 13-year low of 2.9 percent in August and rose to 3.1 percent in September. There was an increase in the number of employed workers to 611,500 last month versus 610,900 in September.

October's seasonally adjusted jobless rate of 3.3 percent remained well below the 2003 rate of 4.5 percent. The seasonal adjustment attempts to eliminate influence of holidays and other recurring events.

Hawai'i's economy has benefitted from strong tourism, real estate and construction.

On a nonseasonally adjusted basis, the Big Island's jobless rate in October fell to 4.7 percent, versus 6.2 percent last year. Honolulu's rate fell to 3.0 percent, compared with 4.1 percent a year ago. Maui County recorded 3.3 percent, down from 4.8 percent a year earlier. Kaua'i's rate fell to 4.1 percent from 4.7 percent a year ago.

Reach Sean Hao at shao@honoluluadvertiser.com or 525-8093.