HAWAI‘I’S MAY UNEMPLOYMENT RATE AT 3.1 PERCENT

News Release from DBEDT, Jun 15, 2023

HONOLULU — The Hawai‘i State Department of Business, Economic Development & Tourism (DBEDT) today announced that the seasonally adjusted unemployment rate for May was 3.1 percent, compared to 3.3 percent in April. In May, 657,450 persons were employed and 21,400 were unemployed, for a total seasonally adjusted labor force of 678,800 statewide. Nationally, the seasonally adjusted unemployment rate was 3.7 percent in May, up from 3.4 percent in April.

The unemployment rate figures for the State of Hawai‘i 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 2.6 percent in May, compared to 2.7 percent in April.

INDUSTRY PAYROLL EMPLOYMENT (ESTABLISHMENT SURVEY)

In a separate measure of employment, total nonagricultural jobs decreased by 200 month-over-month, from April 2023 to May 2023.

Job gains were experienced in Trade, Transportation, & Utilities (+1,100); Private Education & Health Services (+400); Professional & Business Services (+200); and Information (+100). Within Trade, Transportation, & Utilities, gains were concentrated in Retail Trade and Wholesale Trade. Employment in Manufacturing remained stable.

Job losses occurred in Construction (-100); Financial Activities (-100); Other Services (-300); and Leisure & Hospitality (-1,200). Within Leisure & Hospitality, job contraction was evenly split between Accommodation; Food Services & Drinking Places; and Arts, Entertainment, & Recreation. Government employment went down by 300 jobs.

Year-over-year (May 2022 was the 26th month of pandemic effects), nonfarm jobs have gone up by 19,600, or 3.2 percent. However, in comparison with March 2020 (the last month prior to pandemic effects), nonfarm jobs were down by 24,200, or -3.7 percent.

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