State of Hawaii Investor Presentation
Labor Market
Hawaii Has A Strong and Diverse Employment Base
Hawaii's economy is diversified with 82%
of economic activity in non tourism sectors
in recent years (compared to 67% in 1988)
Federal (including military), state and
local government are stable components
of the economy
The construction industry remains a
sizeable component of the economy, with
large public and private sector capital
projects ongoing
The State's unemployment rate increased
at the onset of the pandemic but has
steadily declined with increased economic
and tourism activity.
■ As of October 2023, the
unemployment rate in Hawaii stood
at 2.9%
Hawaii Nonfarm Employment Base (1)
First 10 Months of 2023
Military 7.9%
Government.
17.9%
Other Services
3.9%
Leisure & Hospitality.
17.4%
Mining, Logging, and
Construction
5.5%
Education & Health Services
12.8%
Unemployment Rate (2)
2016 to October 2023 (Seasonally Adjusted)
5
1)
Source: Department of Business, Economic Development & Tourism.
2)
Source: Department of Business, Economic Development & Tourism and Bureau of Labor Statistics.
25%
20%
15%
10%
5%
0%
Apr-16
Jul-16
Oct-16
Jan-17
Apr-17
Jul-17
Oct-17
Jan-18
Apr-18
Jul-18
Oct-18
Jan-19
Apr-19
Hawaii
Jul-19
Oct-19
Jan-20
Apr-20
Jul-20
Oct-20
Jan-21
U.S.
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Manufacturing
1.9%
Trade, Transportation,
and Utilities
16.9%
Information
Professional &
Business Services
10.5%
October 2023
Hawaii: 2.9%
U.S.: 3.9%
Oct-22
Jan-23
Apr-23
Jul-23
Oct-23
1.3%
Financial Activities
4.0%
STATE
OF
HAWAIIView entire presentation