Delaware’s unemployment rate in February rose to 4.5 percent from 4.4 in January, the Delaware Department of Labor reported.
Total unemployment in February was 21,100, compared to 21,200 in February 2016. The rates reflect seasonal adjustments.
The U.S. unemployment rate was 4.7 percent in February down from 4.8 in January 2017. In February 2016 the U.S. unemployment rate was 4.9 percent, while Delaware’s rate was 4.5 percent.
Job growth remained on the weak side, with February seasonally adjusted nonfarm employment at 455,200 down from 455,800 in January. One potential trouble spot came in the vibrant financial services sector, which saw the loss of 100 jobs during the past year.
One potential trouble spot came in the financial services sector, which saw the loss of 100 jobs during the past year.
The key sector of the economy held up well during the recession of 2008-2009 but may be feeling the impact of regulations that bankers see as an impediment to growth.
State government employment was also down by 400 as the state faces a nearly $400 million budget shortfall.
(See full report below)
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Since February 2016, Delaware’s total nonfarm jobs have increased by a net gain of +4,200, a rise of 1 percent. Nationally, jobs growth during the period increased 1.7 percent.
Labor market officials have stressed that job growth figures are subject to revisions as figures are based on surveys. As more detailed reports are submitted, the figures can be revised.
However, signs have continued to point to a slowdown in job growth in Delaware, a state that at various times in the past couple of years, exceeded the national growth rate.
The monthly jobs report took a look at unemployment among veterans and a nationwide effort to reduce high jobless rates among those who had recently returned from duty.
“ The data for Delaware show that while veterans from all service periods typically have unemployment rates slightly below the rest of the labor force, Gulf II veterans have gone from well above the overall unemployment rate to well below it,” the reported noted.
From mid-2013 to mid-2014 the state unemployment rate for non-veterans was 6.0%. For all veterans, the rate was 4.6 percent, but for Gulf II veterans it was 10.4 percent.
For the 12 months ending in February 2017, the unemployment among all veterans is 4.1 percent, for non-veterans, it is 4.4 percent, and for Gulf II veterans it is 2.7 percent.
Employers in Delaware, including Comcast and Chase, have launched programs aimed at employing veterans.
