Delaware continues to have a lower jobless rate than other areas in the territory of the Federal Reserve Bank of Philadelphia.
The Philly Fed’s monthly Tri-State Tracking report showed Delaware well ahead of the nation in another economic measurement – building permits.
However, when it came to the key measurement of income growth, Delaware ended up near the national rate.
Total income was up more than three percent, above the rate of inflation but not a figure that would reflect booming conditions.
Low income growth has held down inflationary pressures but has also led to claims that the benefits of the current economic upturn have largely gone to the wealthiest Americans.
Job growth in Delware, according to the index was up eight-tenths of one percent near the national average,but below the 1.1 percent for New Jersey.
Pensnsylvania’s jobless rate was seven-tenths of one percent.
The Philadelphia Fed’s territory includes the entire state of Delaware, a large portion of Pennsylvania and a portion of New Jersey.
Delaware’s unemployment rate of 3.2 percent as of June was lower than the 3.5 percent for New Jersey and the 3.8 percent for Pennsylvania. The Delaware jobless rate rose by a tenth of a percent in July.
Click here for more details on the Delaware report.
