Fed forecast sees another uptick in Delaware’s jobless rate

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Delaware could see its unemployment rate continue to climb for the month of  August.

A  forecast from the Federal Reserve Bank of Philadelphia indicates that the jobless rate in the first state could move up another tenth of a percent from July to 4.9 percent.

During the month of August, the national unemployment rate increased from 4.3 percent to 4.4 percent.

Delaware has seen a slowdown in job growth for the past several months as the state deals with corporate downsizings and a state budget deficit that froze hiring in some areas.

The Philadelphia Fed Using an analytical method created by its researchers, fill the gap between the time the national unemployment rate is posted early in the month and the release of state figures, typically around the 20th of the month.

Fed researchers expect unemployment rates for August to remain unchanged at 5  percent in Pennsylvania and rise from 4.2 percent to 4.3 percent in New Jersey.

The next Fed release will be on October 6,   following the Bureau of Labor Statistics release of the September national employment report.

The Philadelphia Federal Reserve’s territory includes the entire state of Delaware, a large portion of Pennsylvania outside the Pittsburgh area and southern New Jersey.

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