LIHU‘E — A robust labor market ended the year on a strong note, as a number of sectors beefed up employment rolls at the beginning of the winter tourism season.
As a result, the unemployment rate sank to 2.3 percent in December 2023 from 3.4 percent in December 2022, according to monthly data released by the Hawai‘i Department of Business, Economic Development &Tourism.
The most recent reading was the lowest among the four major counties in the Hawaiian Island chain and the lowest on Kaua‘i since May 2019, when the unemployment rate measured 2.2 percent.
The labor market was paced by the professional and business service sector, which added 300 jobs to bring its total to 3,200 in December 2023. That was up 10.3 percent in the period.
Three sectors — retail trade, food service and drinking places and accommodation — added 200 positions in the period. That marked gains of 5.0 percent, 4.9 percent and 5.0 percent, respectively.
Two other sectors — transportation, warehousing and utilities and local government — added 100 jobs in the period. That marked increases of 5.9 percent and 7.7 percent, respectively.
On the downside, the natural resources, mining and construction and health care and social assistance sectors shed 200 positions each in the period for decreases of 9.1 percent and 7.4 percent, respectively.
Three other sectors — manufacturing, financial activities and arts, entertainment and recreation — shed 100 jobs in the period. That marked drops 16.7 percent, 9.1 percent and 10.0 percent, respectively.
All told, civilian employment eased to 35,300 in December 2023 from 35,350 in December 2022, while the labor force retreated to 36,150 from 36,600 in the same period.
The highest unemployment rate recorded on the four major islands was on Maui, whose economy continues to slowly recover from the deadly Lahaina wildfire in August 2023. The wildfire claimed the lives of 100 people and destroyed more than 2,000 structures.
The jobless rate on Maui climbed to 5.3 percent in December 2023 from 3.3 percent in December 2022. But the most recent reading was down from 6.3 percent in November 2023.
The unemployment rate on O‘ahu weighed in at 2.5 percent in December 2023, down from 3.4 percent in December 2022.
Hawai‘i Island notched the largest percentage decrease in the period, as its jobless rate plunged to 2.6 percent from 3.8 percent.
Statewide, the unemployment rate measured 2.9 percent in December 2023. That was down from 3.5 percent in December 2022. Data not seasonally adjusted.
