Delaware outpaces region in job growth

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Delaware’s economy is outperforming its neighbors on the employment front, according to a monthly report from the Federal Reserve Bank of Philadelphia.

Total employment rose 2.4 percent between August 2017 and August 2018.

That was far stronger than New Jersey, which saw a decline of three-tenths of one percent and Pennsylvania, which saw jobs rise by a paltry one-tenth of one percent.

Unemployment rates in the three states are close to the national average

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The Philadelphia Fed’s territory includes the entire state of Delaware, a large portion of Pennsylvania and a portion of New Jersey.

Aiding Delaware’s performance was continued strength in construction, which continues to run ahead of the national rate based on building permits Construction in New Jersey is running close to the national average, with Pennsylvania below the U.S. figure

Income growth did not run ahead of the national figure for Delaware, with Pennsylvania and New Jersey in the same neighborhood.

The Delaware economy was slow to climb out of the recession but has shown some strength in the past couple of years as areas, such as construction, remain strong.

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