Delaware’s July unemployment rate fell to 4.1 percent, its lowest level since February 2020 when the jobless rate was 3.7 percent. Of late, job growth in Delaware has risen to above the national rate, after a slow recovery from the Covid-19 pandemic.
While Delaware’s jobless rate is higher than the national figure, the gap has narrowed from a year ago. In July 2022, the US unemployment rate was 3.5%, while Delaware’s rate was 4.4%.
The Delaware Department reported 20,600 unemployed Delawareans in July compared to 21,800 in July 2022.
In July 2022, the US unemployment rate was 3.5%, while Delaware’s rate was 4.4%.
In July 2023, seasonally adjusted nonfarm employment was 483,300, down from 486,000 in June 2023. Since July 2022, Delaware’s total nonfarm jobs have increased by 2.5%. Nationally, jobs during that period increased by 2.1%.
Despite a higher rate of inflation, private sector wages outpaced the consumer price index in July. The US city average (CPI) increased by 3.2% compared with July 2022 while total private-sector hourly wages grew by 4%.
Total non-farm jobs were 11,800 higher than a year ago as growth in the Leisure and Hospitality industry led the increase with 5,000 jobs.
In July, non-farm jobs fell by 2,700, a second consecutive monthly decline, led by the Financial Activities industry, which fell by 1,100 jobs.”
There were 20,600 unemployed Delawareans in July 2023 compared to 21,800 in July 2022. The US unemployment rate was 3.5% in July 2023, down from 3.6% in June 2023.