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Hawaii unemployment rate plunges to 3.5%

Hawaii’s seasonally adjusted unemployment rate took another big drop for the second month in a row and hit 3.5 percent in August to mark its lowest level in more than seven years. 

The last time the jobless rate was lower was in March 2008 when it was 3.4 percent, according to data released Thursday by the state Department of Labor and Industrial Relations. 

Hawaii’s unemployment rate has now fallen half-a-percentage point in the last two months. It was 4.0 percent in June and 3.7 percent in July. 

The number of payroll jobs rose by 8,200 jobs to 641,300 in August from 633,100 in the previous month.

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