Reported by Star-Bulletin staff & wire
Friday, October 24, 1997
Jobless rate drops to 6.1% for Hawaii
Unemployment in Hawaii slipped to 6.1 percent last month, from 6.5 percent in September 1996. The Hawaii rate, however, was still below the national average of 4.7 percent last month.The end of summer programs cut the state government's education and social work force by 3,700 jobs compared with August but private education added 1,200 jobs. Hawaii's jobless rate in August was 6.5 percent.
The slowdown in tourism cut into hotel work, resulting in a loss of 400 jobs last month from the peak summer month of August. Air transportation supported 200 more jobs in September, largely due to the end of the UPS strike.
The food processing sector was down by 400 jobs last month compared with August, mostly on Maui, said the state Department of Labor in its monthly report.
Altogether there were 35,700 people unemployed last month.
For the individual islands, Oahu's jobless rate was 5.1 percent, down from 5.5 percent in September 1996; the Big Island was at 9.4 percent, down from 9.5 percent; Kauai was at 9.8 percent, down from 11.2 percent; Molokai was at 15 percent, down from 18 percent; and Lanai was at 5.9 percent, down from 6.6 percent.
Reducing debt helps Dole Food's bottom line
Dole Food Co. today reported a third-quarter profit of $24.4 million, or 40 cents a share, a 6 percent increase from $23 million, or 38 cents a share, in last year's third quarter. Revenues of $1.18 billion were up 8 percent from $1.09 billion in the 1996 quarter.Chairman David Murdock said the Westlake Village, Calif.-based company had a strong cash flow and reduced its debt, cutting third-quarter interest expense by $1.2 million to $18.7 million.
U.S.-Japan port talks stalled over monitoring
WASHINGTON -- U.S. negotiations with Japan to settle a port dispute stalled after Japanese officials objected to demands for monitoring the proposed accord, industry officials told Bloomberg News.The United States said there would be no agreement unless its Federal Maritime Commission can monitor and enforce it, said Stuart R. Breidbart, general counsel for CSX Corp.'s Sea-Land Service unit, the largest U.S. ship line.
The commission last week adopted a ban on cargo ships from Japan's three largest cargo lines from entering U.S. ports. The agency also prepared a plan to order the Coast Guard to seize any ships of the three lines found in U.S. harbors. The agency postponed the ban after U.S. and Japanese negotiators reached a tentative accord.
The commission acted after the three carriers refused to pay a $4 million fine imposed on them in retaliation for Japanese practices that it says unfairly restrict U.S. carriers from operating there. All week, the FMC delayed implementing the ban, to give negotiators time to settle the dispute. The FMC canceled a meeting today.