Categorized | Business

Unemployment rate remains at 4.4% in May

MEDIA RELEASE

The state Department of Labor & Industrial Relations has announced that the seasonally adjusted unemployment rate for May was 4.4 percent, the same as in April.

Statewide, there were 632,500 employed and 29,450 unemployed in May, for a total seasonally adjusted labor force of 661,900. Nationally, the seasonally adjusted unemployment rate was 6.3 percent in May, also unchanged from April.

Both initial claims and weeks claims decreased by 150 or -8.4% and 1,414 or -12.0% respectively for unemployment benefits compared to one year ago.

Over-the-month both initial claims and weeks claims also fell by -5.4% and -2.0% respectively from April 2014.

The unemployment rate figures for the State of Hawaii 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 4.4 percent in May, up from 4.2 percent in April.

In another measure of employment, total seasonally adjusted nonagricultural jobs increased by 1,400 in May over April.

Major industry employment gains occurred in Professional & Business Services (+1,800), Trade, Transportation, & Utilities (+700), Construction (+500), Manufacturing (+200), and Financial Activities (+100).

A significant portion of the rise in Professional & Business Services was due to job growth in Professional Employment Organizations and Temporary Help Services, while expansion in Trade, Transportation, & Utilities was concentrated in Retail Trade.

Major industry job contraction took place in Educational & Health Services (-300), Leisure & Hospitality (-400), and Other Services (-400). Government decreased by 800 jobs, mostly as a result of shifting seasonal hiring at the Department of Education.

Compared with May 2013, there has been an increase of 7,200 nonfarm jobs.

Unemployment201405

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