A report on Friday from the Federal Reserve Bank of Philadelphia is forecasting a lower May unemployment rate for Delaware.
Using an analytical method created by its researchers, the bank expects unemployment rates for May to decrease from 4.2 percent to 4.0 percent in Delaware and increase from 5.3 percent to 5.5 percent in Pennsylvania and rise from 4.7 percent to 4.9 percent in New Jersey.
The estimates come during the period between the release of the nation’s unemployment rate and state rates, which typically come out around the 20th of the month.
During the month of May, the national unemployment rate decreased from 5 percent to 4.7 percent.
However, job growth was weak for the month and stocks were down for the day.
The next state nowcast release will be on July 8, 2016, following the release of the June national employment report.
