Maui Island unemployment at 5.8%, Maui County at 5.6% in February 2024 : Maui Now

The non-seasonally adjusted unemployment rate for Maui Island was 5.8% in February 2024, compared to 6.2% the previous month, and 2.9% at the same time in 2023. The data was included in a new report released today from the Hawaiʻi Department of Business, Economic Development and Tourism. 

The island of Molokaʻi had an unemployment rate of 1.2%, compared to 1.4% the month before, and 4.3% at the same time last year. The island of Lānaʻi continued to have the lowest unemployment rate in the state at 1.6% in February, compared to 0.9% the month before, and 1.8% in February 2023. 

Combined, the three islands that make up Maui County had an unemployment rate of 5.6%, down from the 5.9% rate in January, and the 2.9% rate in February 2023.

The seasonally adjusted unemployment rate for Hawaiʻi in February was 3.1%, the same as in January. In February, 653,500 persons were employed and 21,150 were unemployed, for a total seasonally adjusted labor force of 674,650 statewide. Nationally, the seasonally adjusted unemployment rate was 3.9% in February, up from 3.7% in January.

The unemployment rate figures for the state of Hawai‘i and the US are seasonally adjusted, in accordance with US Bureau of Labor Statistics methodology. The not-seasonally adjusted rate for the state was also 3.1% in February, unchanged from January.

In a separate measure of employment, total nonagricultural jobs increased by 1,500 month-over-month, from January 2024 to February 2024. Job gains were experienced in Other Services (+400); Construction (+300); Private Education & Health Services (+300); and Manufacturing (+200).

Employment remained stable in Trade, Transportation & Utilities; and Financial Activities.

Job losses occurred in Information (-100); Leisure & Hospitality (-100); and Professional & Business Services (-300). Government employment rose by 800 jobs, primarily due to a higher-than-average seasonal increase in the University of Hawai‘i system.

Year-over-year (February 2023 was the 35^th month of pandemic effects), non-farm jobs have gone up by 500, or 0.1 percent. However, in comparison with March 2020 (the last month prior to pandemic effects), non-farm jobs were down by 21,200, or -3.2%.