A gain of nearly 12,000 jobs in 2012 helped push Hawaii’s unemployment rate to 5.2 percent by year’s end, the lowest level in more than four years, the state Department of Labor and Industrial Relations reported Thursday.
The December jobless rate was down from 5.3 percent in November. It marked the fifth straight monthly decline in unemployment, which had been stuck in the 6 percent to 7 percent range for much of the previous three years as Hawaii struggled to recover from an economic recession.
Hawaii’s December unemployment rate was the lowest since October 2008 when it was 5 percent, according to the DLIR. Hawaii’s December rate compared favorably with the national unemployment rate of 7.8 percent.
The statewide and national unemployment rates are adjusted for seasonal variations, such as hiring by retailers during the holiday shopping season. On an unadjusted basis, the jobless rate fell in December from November in all of Hawaii’s counties.
It fell to 4.3 percent from 4.8 percent in November in Honolulu County, to 5.2 percent from 5.7 percent in Maui County, to 6 percent from 6.4 percent in Kauai County and to 6.9 percent from 7.4 percent in Hawaii County.
The unemployment rate is derived largely from a telephone poll of households. A separate survey of businesses showed that although nonagricultural payroll jobs declined by 4,000 in December, they were up 11,900 for the entire year. DLIR officials said the December decline in payroll jobs was largely due to the release of 1,900 temporary general-election workers in the government sector.
On a year-over-year basis, the biggest job gains were in leisure and hospitality (4,700 positions), trade, transportation and utilities (4,400 positions) and construction (1,800 positions).
Despite the recent improvement in the labor market, the overall number of jobs in the economy remains about 4 percent below the 2007 pre-recession peak, according to data from the U.S Bureau of Labor Statistics. The only exceptions were in health care and the federal government, where hiring was fairly steady throughout the economic downturn.
One of the areas that was the quickest to recover lost jobs was professional and business services, the data show.
"We’re seeing a dual job market. While the general employment market remains competitive, companies are hiring professionals with specialized skills who can help organizations meet growing business demand," said Katie Evans, a spokeswoman for placement firm Robert Half International.
"While the unemployment in Hawaii sits at 5.2 percent, the unemployment rate for in-demand positions within the finance and IT sector are as low as 3 to 4 percent," she said.
