Delaware’s seasonally adjusted unemployment rate in April 2023 was 4.3%, down from 4.4% in March 2023, the state Labor Department reported.
It came as non-farm jobs fell by 400, the first month-over-month decline since May 2022, led by a reduction of 500 jobs in the construction industry. That could indicate a slowdown in an industry affected by higher interest rates.
Total jobs grew by 9,200 compared to a year ago, spurred by growth in financial activities; trade, transportation and utility; and government sectors of 2,000, 1,900, and 1,900 jobs, respectively.
There were 21,500 unemployed Delawareans in April 2023, unchanged from April 2022. The nation’s unemployment rate was 3.4% in April down from 3.5% in March.
In April 2022, the nation’s unemployment rate was 3.6%, while Delaware’s rate was 4.3%.
In April seasonally adjusted nonfarm employment was 482,400, down from 482,800 in March 2023. Since April 2022, Delaware’s total nonfarm jobs have increased by 9,200, up 2%. Nationally, jobs during that period increased 2.6%.
In April, the Philadelphia-Camden-Wilmington area consumer price index (CPI) rose 4.7 percent from a year ago.
Average over-the-year hourly earnings for the private sector outpaced the increase in the price index rising $1.58 or by 5.3 percent from $29.78 to $31.36.