Research & Economic Analysis

4th Quarter 2024 Report

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Hawaii’s labor market conditions were mixed in the third quarter of 2024. The civilian labor force and civilian employment both decreased. Civilian unemployment increased and the unemployment rate remained the same. Civilian non-agricultural wage and salary jobs increased.

In the third quarter of 2024, the civilian labor force averaged 670,650 people, a decrease of 5,700 people or 0.8 percent from the same quarter of 2023 (Table A-1). In the first three quarters of 2024, the civilian labor force decreased 6,500 people or 1.0 percent from the same period of the previous year.

Civilian employment averaged 649,650 people in the third quarter of 2024, a decrease of 6,050 people or 0.9 percent compared to the same quarter of 2023 (Table A-2). In the first three quarters of 2024, average civilian employment decreased 6,450 people or 1.0 percent from the same period of the previous year.

In the third quarter of 2024, the number of civilian unemployed averaged 21,050, an increase of 400 people or 1.9 percent from the same quarter of 2023 (Table A-3). In the first three quarters of 2024, the number of unemployed remained the same at about 19,900 people compared to the same period of the previous year.

The unemployment rate (not seasonally adjusted) was 3.1 percent in the third quarter of 2024, the same as in the third quarter of 2023 (Table A-4). In the first three quarters of 2024, the unemployment rate was 3.0 percent or 0.1 percentage point higher than the same period of the previous year.

In the third quarter of 2024, Hawaii’s non-agricultural wage and salary jobs averaged 634,300 jobs, an increase of 6,200 jobs or 1.0 percent from the same quarter of 2023 (Table A-6). In the first three quarters of 2024, average non-agricultural wage and salary jobs increased 0.6 percent, or 3,900 jobs, from the same period of the previous year.

The increase in jobs in the third quarter of 2024 was due to job increases in both the private sector and the government sector. In this quarter, the private sector added about 4,500 non-agricultural jobs compared to the third quarter of 2023. The number of jobs increased the most in Construction, which gained 4,600 jobs or 12.0 percent (Table A-7), followed by Health Care and Social Assistance, which gained 2,700 jobs or 3.6 percent (Table A-16) in the quarter. The number of jobs decreased the most in Transportation, Warehousing and Utilities, which lost 1,500 jobs or 4.4 percent (Table A-11); Retail Trade, which lost 1,200 jobs or 1.8 percent (Table A-10) Information, which lost 1,100 jobs or 14.5 percent (Table A-12); and Financial Activities, which lost 1,000 jobs or 3.6 percent (Table A-13) in the quarter.

The Government sector gained 1,700 jobs or 1.4 percent (Table A-21) in the third quarter of 2024 compared to the same quarter of 2023. The Federal Government added 400 jobs or 1.1 percent (Table A-22), the State Government added 1,100 jobs or 1.7 percent (Table A-23), and the Local Government added 300 jobs or 1.6 percent (Table A-24), compared to the third quarter of 2023.