Jobless  figures draw yawns

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Good afternoon,

Did you pay attention to the news that Delaware reported a 4  percent unemployment rate?

Few did. The jobless rate release from the Delaware Department of Labor around the 20thof the month, typically draws yawns, even when we see a slight increase, with the First State ranking.

The state’s unemployment rate is now a couple of ticks below the national jobless rate and ranks an unimpressive 30th among the 50 states.

We are tied with Michigan, a former economic basket case.  Hawaii was first with a 2.2 percent rate. Then again, you may need a couple of jobs to make ends meet in the  Aloha state.

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If Delaware had a governor’s race in 2018, the jobless rate would be an election issue. Republicans have long made the case that state spending and taxes are holding back the economy.

Still, unemployment reports during economic expansions draw the fewest number of page views in Delaware Business Now.

As a business news website, running the jobless stats is part of our mission. Otherwise, the stories might not make the cut. Computer click-driven Delaware Online (News Journal)  pretty much ignores the figures. 

Commentary from the state Department of Labor accompanying the jobless stats downplayed the significance of the increase.

Other measurements, such as employment growth and a tight labor supply match up with the national picture.

Also, Delaware is a small state and the estimates used in compiling unemployment rates are subject to significant revisions take place in the following year.

In 2017, we saw an inexplicable decline in retail employment, despite the opening of new stores. Later adjustments painted a different picture.

While retail may end up down slightly for the year as Sears and other retailers struggle, the state’s sales tax-free status should keep the job count relatively stable.

The tight job market will also ensure that many displaced employees will find work and that’s good news.

Read on. – Doug Rainey, publisher.

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