Delaware’s seasonally adjusted unemployment rate fell to 3.4 percent in February, down from 3.5 percent in January.
The Delaware Department of Labor reported 16,400 unemployed Delawareans in February compared to 19,400 during the same month a year earlier.
Delaware put further distance between its figures and the nation’s jobless rate, which stood at 3.8 percent in February. The nation’s unemployment rate was down from four percent in January.
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A year ago in February, Delaware’s unemployment rate was four percent, slightly below the national figure of 4.1 percent.
On the minus side, Delaware is seeing slower job growth than the nation as a whole, perhaps a reflection of a tight labor market and a stagnant workforce participation rate. An aging workforce, as well as people who drop out of the workforce for various reasons, contribute to lower participation rates.
In February, seasonally adjusted nonfarm employment was 465,200, up from 465,000 in January 2019.
Since February 2018, Delaware’s total nonfarm jobs have increased by 5,100, up 1.1 percent. Nationally, jobs during that period increased by 1.7 percent.
The state Department of Labor has cautioned that job figures are subject to change, due to the use of estimates, which are later revised when more solid payroll figures are submitted from employers.
