HAWAI‘I’S UNEMPLOYMENT RATE AT 8.1 PERCENT IN MAY – JOBS INCREASED BY 55,400 OVER-THE-YEAR
News Release from DLIR, Jun 22, 2021
HONOLULU — The Hawai‘i State Department of Labor & Industrial Relations (DLIR) today announced that the seasonally adjusted unemployment rate for May was 8.1 percent compared to 8.5 percent in April. Statewide, 595,300 were employed and 52,150 unemployed in May for a total seasonally adjusted labor force of 647,450. Nationally, the seasonally adjusted unemployment rate was 5.8 percent in May, down from 6.1 percent in April.
The unemployment rate figu res for the State of Hawai‘i and the U.S. in this release are seasonally adjusted, in accordance with the U.S. Bureau of Labor Statistics (BLS) methodology. The not seasonally adjusted rate for the State was 7.5 percent in May, compared to the revised rate of 8.0 percent in April. Initial claims for unemployment benefits for the month of May was 2,639 a decline from the previous month of 1,209 (or 31.4%). The total number of continued weeks claimed for ongoing state benefits for the month May was 17,299 a decline of 520 (or 2.9%) from the previous month. In comparison to one year ago, initial claims fell 8,440 to 2,639 or 76.2 percent and weeks claimed have dropped from a record 102.5 thousand or 85.6 percent.
Industry Payroll Employment (Establishment Survey)
In another measure of employment, total nonagricultural jobs increased by 4,000 over-the-month. Job gains occurred in Leisure & Hospitality (+2,800), Professional & Business Services (+1,100), Other Services (+700), Education & Health Services (+200), and Manufacturing (+100). For the 2nd consecutive month, expansion in Leisure & Hospitality was robust in both Accommodation and Food Services & Drinking Places. Within Professional & Business Services, job gains were strongest in the Administrative & Support & Waste Management & Remediation Services subsector. Employment remained unchanged in Information. Job losses were experienced in Financial Activities (-100), Construction (-200), and Trade, Transportation, & Utilities (-600). Contraction in Trade, Transportation, & Utilities was concentrated in Retail Trade. Government employment remained stable. Over-the-year (May 2020 was the 2nd month of pandemic effects), nonfarm jobs have risen by 55,400, or 10.9 percent). However, in comparison with March 2020 (last month prior to pandemic effects), nonfarm jobs were down by 90,600, or -13.8 percent.
Alternative Measures of Labor Underutilization
Alternative Measures of Labor Underutilization for States, second quarter of 2020 through first quarter of 2021 averages (percent).
The six alternative labor underutilization state measures based on the Current Population Survey (CPS) and compiled on a 4-quarter moving average basis defined:
U-1, persons unemployed 15 weeks or longer, as a percent of the civilian labor force;
U-2, job losers and persons who completed temporary jobs, as a percent of the civilian labor force;
U-3, total unemployed, as a percent of the civilian labor force (this is the definition used for the official unemployment rate);
U-4, total unemployed plus discouraged workers, as a percent of the civilian labor force plus discouraged workers;
U-5, total unemployed, plus discouraged workers, plus all other marginally attached workers*, as a percent of the civilian labor force plus all marginally attached workers; and
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.
Link: Technical Notes
TGI: Kaua‘i unemployment rate down to 11.3% in May