Good afternoon everyone,
We’ll know more in coming months, but there are scattered economic signs of slowing growth. So far, Delaware does not seem to be part of the trend.
The Center for Economic and Policy Research reported that on a six-month rolling median, Delaware saw a 0.4 percent gain in blue collar jobs.
The South, an area that in this instance includes Delaware, was the only region that saw an overall gain in blue collar jobs in February.
The decline could have been due to tough weather during the month. While February was no picnic in Delaware, the state escaped the most severe conditions that hammered industries like construction.
States in the Midwest and West saw the largest drops, with decreases of 21,500 and 17,400 jobs, respectively.
Construction employment, a weak point in many other states, has been more robust in the First State.
Still, the Delaware Department of Labor cautioned that job figures we see later in the year may differ when estimates are replaced with more accurate payroll data. In its recent commentary, the state Labor Department says job growth estimates in a few categories appear to be suspiciously high.
The economic figures have produced nervousness within the Trump Administration, with officials seeking a reduction in interest rates while arguing that inflation remains in check. Trump is clearly unhappy with Federal Reserve Chairman Jerome Powell but reportedly said he is stuck with him.
Powell is no longer hinting at further rate hikes, due to prospects of slower growth.
The next indicators will come with March figures. Again, weather may be a factor.
Last week DowDuPont noted that flooding in the Midwest affected sales of crop products at its Corteva Agriscience business and lowered earnings guidance
Enjoy your day and take note of the story above about the Red Flag Warning if you have grassland or a weedy lot next to your business.
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