Delaware jobless rate expected to remain steady

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Delaware’s November jobless rate is expected to remain at 4.3 percent, according to an employment forecast from The Federal Reserve Bank of Philadelphia. 

During the month of November, the national unemployment rate decreased from 4.9 percent to 4.6 percent.

Using an analytical method created by Bank researchers, we expect unemployment rates for November to decrease from 5.2 percent to 5.1 percent in New Jersey and remain unchanged at 5.8 percent in Pennsylvania and 4.3 percent in Delaware.

The steady rate has led to indications  that the state rate will not be able to go much lower.

The Delaware unemployment rate has been stuck at 4.3 percent since the summer. 

The Philadelphia Fed issues the Nowcast as a way to provide guidance during between the issuing of the national unemployment figure early in the month and the state figures at around the 20th of the month.

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 alleviate 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 November, the national unemployment rate decreased from 4.9 percent to 4.6 percent.

The next state nowcast release will be on January 6, 2017, following the release of the December national employment report.

The unemployment rate has been in the news, with President-Elect Donald Trump claiming the rate is far higher than the reported figure.  

The incoming administration claims the reported rate does not include discouraged workers who have given up looking for work. 

Delaware’s 4.3 percent rate is higher than historical lows in the Delaware jobless rate. 

 

 
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