State unemployment rates dips to 3.2%
Hawaii’s seasonally adjusted unemployment rate fell to 3.2 percent in December after the number was revised upward by one-tenth of a point for November.
The last time the rate was this low was in January 2008, according to data released today by the state Department of Labor and Industrial Relations. The number has fallen in six of the previous seven months.
Total nonfarm jobs last month rose by 3,600 to 641,700 from 638,100 in November.
The U.S. rate, which was announced earlier this month, held at 5.0 percent.
Over the past seven months, the state jobless rate gradually has dropped from 4.1 percent in May. It was 4.0 percent in June, 3.7 percent in July, 3.5 percent in August, 3.4 percent in September, 3.3 percent in October and November (after the revision) and now 3.2 percent in December.
The Hawaii labor force, which includes people who are employed and people who are unemployed but actively seeking work, jumped by 2,900 last month to a record 682,750 from the previous high of 679,850 in November.
There were 660,600 people employed last month, a record, topping the previous high of 657,750 people reached in November. Those unemployed increased to 22,150 from 22,100 over the same period. A year earlier there were 27,100 unemployed.
3 responses to “State unemployment rates dips to 3.2%”
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Its amazing how you spun this. Let me educate you, the drop in unemployment in December was only due to an increase in part-time jobs for the holiday rush, nothing more nothing less. Our U-6 rating (U-6, total unemployed, plus all marginally attached workers, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers), which is more accurate is 9.7%. The truth shall set you free.
Then, I guess I have to wonder why they put that “seasonally adjusted” thing in the first sentence for no reason.
If these numbers are true, it is unhealthy economically. The national average of 5% is just about full employment using several gages. At this rate employers are hiring people way above their skill and hourly wage rate which leads to both higher consumer/product costs and inflation.