Jobless rate expected to post modest increase

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The Delaware jobless rate is expected to move slightly higher when June figures are calculated.

That’s the word from the Federal Reserve Bank of Philadelphia.

The Philly Fed issues the forecasts to fill the gap between the time the national employment figures, month.

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

Using an analytical method created by bank researchers, the Federal Reserve bank expects unemployment rates for June to remain unchanged at 4.1 percent in New Jersey and increase from 5 percent to 5.1 percent in Pennsylvania, and tick up from 4.7 percent to 4.8 percent in Delaware.

Delaware’s jobless rates have moved into the upper third among the 50 states and the District of Columbia, perhaps due to cutbacks at employers like DuPont Co.

The state has seen sluggish growth in tax revenues that contributed to a $350 million state budget gap that was filed by modest spending cuts and increases in real estate, alcohol and tobacco taxes.

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