Delaware unemployment rate stays at 4.3 percent as signs point to slowing job growth

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[Not a valid template]The Delaware unemployment rate remained stuck at 4.3 percent as revised data pointed to a slowdown in job growth. The jobless rate has stood at the 4.3 percent mark form months.

The monthly report from the state Department of Labor listed  20,600 unemployed Delawareans in October compared to 23,000 in October 2015.

The U.S. unemployment rate was 4.9 percent in October down from 5.0 percent  in September. In October 2015 the U.S. unemployment rate was 5 percent, while Delaware’s rate was 4.9 percent.

In October,  seasonally adjusted nonfarm employment was 461,200 down from 461,600 in September 2016. Since October 2015, Delaware’s total nonfarm jobs have increased by 8,200, a rise of 1.8 percent. Nationally, jobs during that period increased 1.6 percent.

Surveys had indicated job growth in Delaware was running well ahead of national figures. However,  labor market officials in Delaware have been cautioning that the survey figures seemed to be  a little suspect.

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The revision  came after more figures were reported from employers.

The opposite situation occurred last year when surveys pointed to low job growth that includes a decline in retail employment, even it was clear that growth was taking place in the Christiana Mall area and Rehoboth.

“While it is clear that job growth has slowed, what is not yet evident is what comes next. With no trigger apparent to cause a recession, the likely scenario is that the state settles into more sustainable, long-term growth on the order of about  5,000 jobs per year, consistent with full employment,” the employment stated.

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