Hawaii has the lowest unemployment rate in the nation for the first time in nearly 11 years.
The islands’ 2.2 percent seasonally adjusted jobless rate for October overtook former No. 1 North Dakota, according to data released Friday by the U.S. Department of Labor.
North Dakota’s rate moved up one-tenth of a point to 2.5 percent last month while Hawaii, which was tied with Colorado for second place in September at 2.5 percent, saw its unemployment rate drop three-tenths of a point. Colorado’s rate moved up to 2.7 percent.
“The Hawaii labor market continues to be strong with a very low unemployment rate,” Eugene Tian, chief economist for the state Department of Business, Economic Development and Tourism, said Thursday after the Hawaii results were announced by the state Department of Labor and Industrial Relations. “Though the growth is not evenly distributed by industry sectors, the overall economic condition is still good.”
OUT OF WORKSeven states had seasonally adjusted unemployment rates under 3 percent in October.
1. Hawaii, 2.2%
2. North Dakota, 2.5%
3. (Tie) Colorado, 2.7%; Nebraska, 2.7%; New Hampshire, 2.7%
6. (Tie) Idaho, 2.9%; Vermont, 2.9%
Source: U.S. Department of Labor
The last time Hawaii had the lowest unemployment rate in the country was in December 2006, when it was at its previous record low of 2.4 percent and tied with Utah.
Hawaii had the lowest — or was tied for the lowest — unemployment rate among all states for every month from May 2004 through December 2006.
Initially, when the unemployment rates were announced for December 2006, Hawaii’s preliminary number was listed at 2 percent — far below No. 2 Utah at 2.6 percent. But preliminary numbers are subject to revision the following month and then after the end of each calendar year to incorporate new data in the Labor Department’s methodology. Hawaii’s and Utah’s numbers subsequently were both revised to 2.4 percent.
Hawaii is one of seven states with an unemployment rate under 3 percent. The others are North Dakota at 2.5 percent; Colorado, Nebraska and New Hampshire at 2.7 percent; and Idaho and Vermont at 2.9 percent.
Alaska had the highest unemployment rate in the country last month at 7.2 percent.
Overall, 17 states recorded unemployment rate decreases in October from September, 15 states had increases and 18 states had no change.
Nationwide, the unemployment rate for October was at a 17-year low of 4.1 percent.
Hawaii, which has seen continued steady growth, was one of three states to see unemployment rates fall to record lows. The others were Alabama (3.6 percent) and Texas (3.9 percent). The record numbers for the three states are the lowest under the U.S. Department of Labor’s current methodology, which dates back to 1976.
