Hawaii’s unemployment rate stands at 7.7%, compared to 5.9% nationwide

National

HONOLULU (KHON2) — Hawaii’s unemployment rate for June stood at 7.7%, a decrease from the 8% reported in the month prior.

Statewide, a total of 596,500 Hawaii residents were employed and 49,750 were unemployed in the month of June. Nationally, the seasonally adjusted unemployment rate was 5.9% in June, up from 5.8% that was reported in May.

Jobs such as leisure and hospitality, construction, information, trade, transportation and utilities saw an increase in employment while manufacturing, financial activity, professional and business services, education and health services saw a decrease.

The Department of Business, Economic Development and Tourism (DBEDT) says seasonal fluctuations in the number of employed and unemployed people are factored in when considering the overall percentage and can serve as a reflection of hiring and layoff patterns that accompany regular events such as the winter holiday season and the summer vacation season.

“These variations make it difficult to tell whether month-to-month changes in employment and unemployment are due to normal seasonal patterns or to changing economic conditions,” said DBEDT.

To combat this, the U.S Bureau of Labor Statistics uses a technique called seasonal adjustment to examine how accurate the unemployment rate really is.

A seasonal adjustment factor will consider the history of the labor force data and the job count data, then develop and apply estimates to eliminate the effects of regular seasonal fluctuations on the data.

Courtesy: DBEDT

Overall, jobs in Hawaii increased by 41,900 since approximately the same time last year.

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