In February, the unemployment rate in Delaware showed a decrease from January, aligning with the revised unemployment rate for 2023.
Last month, the seasonally adjusted unemployment rate stood at 4%, down from 4.1% in January, slightly higher than the national rate of 3.9%.
Tom Dougherty, the head of Delaware’s Office of Occupational and Labor Market Information, noted that February’s rate corresponds with the revised unemployment rate from the previous year.
Dougherty mentioned, “Throughout the year, we had initially estimated an average annual unemployment rate of 4.3%, but after revisions, the rate was adjusted downward to 4.0% in 2023.”
Employment figures for last month showed an increase of 700 jobs from January, resulting in a net gain of 5,000 jobs since February 2023, representing a 1.1% growth, which falls short of the 1.8% national growth rate.
Dougherty explained that the seasonally adjusted job figures for 2023 have also been revised.
“The average monthly employment figures for 2023 were adjusted downwards by about 600, and these revisions are a regular part of our annual process; they are not uncommon,” Dougherty added.
Last month, the Leisure and Hospitality sectors provided support to the state, with an increase of 700 jobs, while the Manufacturing sector experienced the largest decline, losing 300 jobs in February.
