Isle economy
chugging away
Hawaii's unemployment rate continues to fall well below the national levels.
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"Hawaii's continued job growth and the significant reductions in our unemployed population reflect a healthy economy that shows no signs of slowing down," said state Labor Director Nelson Befitel.
The national jobless rate fell from 6.2 percent in July 2003 to 5.5 percent last month.
The state Department of Labor and Industrial Relations said the number of people employed in the islands has grown by more than 8,000 since the beginning of the year.
From July 2003 to July 2004, the number of employed rose by 19,800 new jobs.
Also yesterday, the state Department of Business, Economic Development and Tourism announced it expects a 2.1 percent increase in jobs for 2004, up from a forecast of 1.5 percent in the March forecast.
The department also anticipates a 7 percent increase in visitor arrivals in 2004, nearly two percentage points higher than in the March forecast.