HAWAII’S FEBRUARY UNEMPLOYMENT RATE AT 3.6 PERCENT

Jobs increased by 24,400 year-over-year

News release from DBEDT, March 23, 2023

HONOLULU — The Hawaii State Department of Business, Economic Development & Tourism (DBEDT) today announced that the seasonally adjusted unemployment rate for February was 3.6 percent, the same as in January. In February, 654,150 persons were employed and 24,250 were unemployed, for a total seasonally adjusted labor force of 678,450 statewide. Nationally, the seasonally adjusted unemployment rate was 3.6 percent in February, up from 3.4 percent in January.

The unemployment rate figures for the State of Hawaii and the U.S. in this release are seasonally adjusted, in accordance with the U.S. Bureau of Labor Statistics (BLS) methodology. The not seasonally adjusted rate for the state was 3.2 percent in February, compared to 3.1 percent in January.

Industry Payroll Employment (Establishment Survey)

In a separate measure of employment, total nonagricultural jobs increased by 3,700 month-over- month, from January 2023 to February 2023. Job gains were experienced in Education & Health Services (+500); Leisure & Hospitality (+300); Information (+100); and Financial Activities (+100). Employment in Manufacturing; and Trade, Transportation, & Utilities remained stable. Job losses occurred in Other Services (-100); Professional & Business Services (-200); and Construction (-800). Government employment went up by 3,800 jobs, mostly due to a larger than typical seasonal recall of workers in the Department of Education. Year-over-year (February 2022 was the 23rd month of pandemic effects), nonfarm jobs have gone up by 24,400, or 4.0 percent. However, in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 22,000, or -3.4 percent.

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SA: Hawaii’s unemployment rate remains at 3.6%