Unemployment rates for September are expected to remain unchanged in all three states, according to the Federal Reserve Bank of Philadelphia’s nowcasts.
The Bureau of Labor Statistics (BLS) releases national employment figures weeks ahead of state estimates, which leaves followers of state economies with unanswered questions about the direction of local activity. To address this period of uncertainty, the Federal Reserve Bank of Philadelphia produces regular unemployment rate estimates, or “nowcasts,” for Delaware, New Jersey, and Pennsylvania. During the month of September, the national unemployment rate decreased from 6.1 percent to 5.9 percent.
Using an analytical method created by bank researchers, the bank expects unemployment rates for September to remain unchanged at 5.8 percent in Pennsylvania, 6.6 percent in New Jersey, and 6.5 percent in Delaware.
The Delaware jobless rate is an increase from previous month. While jobs are being created at a rate that is higher than the national average, more people are returning to the workforce.
