Hawaii's Jobless Rate up Slightly, Still Below National Average

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

The October jobs report showed a decline in information, real estate and administrative jobs. Those losses increased the number of unemployed by 1,000 to 20,600. The slight increase - approximately 1,000 more unemployed in October versus September - comes after the 13-year low of 2.9 percent unemployed in August.

Economists believe that Hawai'i's hot economy, which has benefitted from strong tourism, real estate and construction over the last year, could slow slightly in 2005.

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.

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.

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