Delaware jobless rate up slightly to 4.2 percent

167
Advertisement

Jobless rate June

Delaware’s jobless rate rose slightly to 4.2 percent in  June.  That was up from 4.1 percent in May, but below the 4.9 percent number in June 2015.

A Federal Reserve Bank of Philadelphia forecast had indicated the rate might drop to 4 percent.

The Delaware Department reported 20,200 unemployed Delawareans in June 2016 compared to 22,800 in June 2015.

The U.S. unemployment rate was 4.9 percent in June 2016, up from 4.7 percent in May 2016. In June 2015,  the U.S. unemployment rate was 5.3 percent.

Advertisement

Job changeIn June 2016, seasonally adjusted nonfarm employment was 462,000 up from 457,900 in May 2016.

Since June 2015, Delaware’s total nonfarm jobs have increased by  15,200,  an increase  of  3.4 percent. Nationally, jobs during that period increased 1.8 percent.

The Labor Department took note of differences in the calculation of employment figures and possible signs of a slowdown.

The payroll count of annual job gains held steady at about  11,000 for most of 2015, falling to  8,300 in the fourth quarter. Preliminary first quarter data show a further drop in an annual gain of 6,100 jobs in 2016.

However,  surveys show an additional 12,100 jobs and another 18,000 employed residents for the first quarter.

Both payroll employment and survey job figures rose slightly in the second quarter.

“The actual payroll count is showing fairly normal gains that are slowing,” the department analysis noted.

Estimates of employment can also be volatile and subject to adjustments.

For example,  in 2015  Delaware was seeing losses in retail employment figures that did not see to jibe with hiring and new store openings in some areas.

In 2016, retail employment is up 800 jobs.

Employment figures are believed to be affected by a mismatch between available workers and skills needed by employers. Many employers have the help wanted sign out, but cannot find qualified workers.

At the same time, baby boomers have been retiring at high rates, with some who lost jobs during the economic downturn not returning to the workforce.

Once jobless rates head toward the 4 percent mark, employers also encounter applicants who are part of the structural unemployment base, due to mental and physical health, substance abuse or other issues.

Advertisement
Advertisement