HONOLULU (KHON2) -- Hawaiʻi has been ranked 6th in the nation for its unemployment rate. This ranking reflects significant changes over the past few years, that's according to a new study. The state saw a slight increase in unemployment from July to August; but overall, the job market improved dramatically since the pandemic. Get Hawaii's latest morning news delivered to your inbox, sign up for News 2 You With a current unemployment rate of 2.9%, Hawaiʻi has been able to bounce back from a devastating high of 87,968 unemployed people in August 2020. A closer look at the numbers According to the study's report, the unemployment data showed several important trends: Current unemployment rate: In August 2024, 19,205 people were unemployed in Hawaiʻi, a small increase from 19,202 in July. Year-over-year change: Compared to August 2023, when 19,623 individuals were jobless, the state’s unemployment rate improved by 2.13%. This placed Hawaiʻi as the 9th best in the nation for year-over-year changes. Pandemic recovery: The decline in unemployment since August 2020 was staggering—down 78.17%. This made Hawaiʻi the best in the U.S. for recovery from pandemic-related job losses. Comparison to pre-pandemic levels: However, when looking back to August 2019, the unemployment rate increased by 14.86%. This indicated that while the state recovered from the pandemic, it still faced challenges compared to its pre-pandemic job market. Continued claims: A mixed bag Notably, continued claims for unemployment benefits showed a decrease of 2.57% from July to August 2024, but this was still the 18th worst change in the country. This suggests that while fewer people needed ongoing support, there were still many who struggled to find work. Insights from experts Experts weighed in on the current situation, emphasizing both the positive strides and ongoing challenges in Hawaiʻi's job market. Adam McCann, a financial writer for the study, noted, "Hawaiʻi's performance demonstrates resilience. The state has made impressive progress since the pandemic, but it still has work to do to reach pre-COVID employment levels." What contributes to unemployment in Hawaiʻi? Several factors contribute to the unemployment landscape in Hawaiʻi: Tourism dependency: The state’s economy relies heavily on tourism, which can be affected by various external factors, including global events and economic fluctuations. Cost of living: Hawaiʻi has one of the highest costs of living in the nation, making it challenging for many to find jobs that offer adequate pay. Remote work trends: The rise of remote work has created opportunities for some but left others struggling in traditional sectors that were hit hard during the pandemic. Community impact The changes in unemployment rates impact the daily lives of residents. Families faced hardships during the pandemic, and while many have returned to work, the journey has not been easy. Community organizations have worked hard to support those still struggling, offering job training programs and resources to help individuals find stable employment. One local leader, Kaʻulana, shared, "Our community is strong, but we need to focus on building a diverse economy. The more we can support local businesses and expand job opportunities, the better off we will all be." Hawaiʻi's unemployment story reflects both resilience and the challenges of recovery. The numbers tell a tale of progress, but they also highlight the need for continued efforts to address job availability and economic diversity. The goal remains clear as the state moves forward: to create a stable, sustainable job market that benefits all residents. You can click here to read more from the study. Get news on the go with KHON 2GO, KHON's morning podcast, every morning at 8 As Hawaiʻi continues to navigate these changes, the community's strength and adaptability will be crucial in shaping a brighter future.'