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The Honolulu Advertiser
Posted on: Saturday, December 22, 2007

Jobless rate rises to 2.9% as jobs decline in 3 sectors

Advertiser Staff

Hawai'i's jobless rate rose slightly to 2.9 percent last month as jobs in the government, transportation and trade sectors declined.

November's rate was up from October's seasonally adjusted 2.7 percent rate and the November 2006 rate of 2.1 percent, the state Department of Labor and Industrial Relations reported yesterday.

In comparison, the U.S. seasonally adjusted unemployment rate remained unchanged from October's 4.7 percent rate. The jobs data are adjusted to compensate for seasonal factors, such as holidays, that could skew year-over-year comparisons.

Hawai'i's November jobless rate tied Wyoming at fourth lowest in the nation behind Idaho (2.7 percent) and South Dakota and Utah (both 2.8 percent).

Hawai'i's monthly seasonally adjusted unemployment rate was the highest since February 2005 when the rate was 2.9 percent. Economists expect state economic growth to slow next year. However, the low unemployment rate shows that Hawai'i's economy remains on strong footing, helped by a robust real-estate market and a stable tourism sector.

In addition to the rise in the unemployment rate, which is derived from a survey of households, a separate survey of businesses showed a net decline of 2,200 nonagricultural payroll jobs to 628,900 jobs in November compared with October.

The November jobs report showed a month-to-month decline in other services; government, trade, transportation and utilities; and leisure and hospitality. The construction sector gained jobs.

On a nonseasonally adjusted basis, the Big Island's jobless rate in November rose to 3.7 percent, versus 2.5 percent last year; Honolulu's rate rose to 2.7 percent, compared with 2.1 percent a year ago; Maui County recorded 3.5 percent, up from 2.1 percent a year earlier; and Kaua'i's rate rose to 3.0 percent from 1.9 percent a year ago.

In November, Hawai'i's seasonally adjusted labor force totaled 647,800 and was composed of 629,100 employed and 18,700 unemployed people.

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