Delaware could see a slight decline in its unemployment rate for May, the Federal Reserve Bank of Philadelphia reported.
Using methodology created by bank researchers, the Philadelphia Fed expects unemployment rates for May to decrease from 4.2 percent to 4.1 in Delaware, from 4.7 percent to 4.6 percent in Pennsylvania, and from 4.5 percent to 4.4 percent in New Jersey.
During the month of May, the national unemployment rate decreased from 3.9 percent to 3.8 percent.
The Federal Reserve Bank of Philadelphia produces regular unemployment rate estimates, or “nowcasts,” for Delaware, New Jersey, and Pennsylvania as a way to bridge the gap between the time of the release of the nation’s jobless rate and the announcement of state unemployment stats.
Delaware will release its May jobless rate figures around the 20thof June.
Delaware has been narrowing the gap between its jobless rate and the national figure.
The state has typically seen a lower jobless rate than the nation as a whole. That changed in the past couple of years as weak job growth figures were reported in the state.
A recent revision, based on payroll figures rather than estimates, showed the state gaining a few thousand jobs. The earlier estimates showed no job growth.
