WILMINGTON, Del. — The Delaware Department of Labor has published its Annual Economic Report, offering a detailed overview of the state’s labor market and economic trends. Available at no cost to the public, the document can be accessed online via de.gov/AnnualReport and includes data on unemployment levels, industry-specific wages, regional employment patterns, and labor force participation across cities and counties. n nLabor Secretary LaKresha Moultrie emphasized the importance of insights provided by the department’s Office of Occupational and Labor Market Information, noting their role in supporting informed choices by government officials, companies, academics, and citizens aiming to enhance Delaware’s economic environment. She highlighted this year’s findings, which reflect solid employment expansion and an annual jobless rate slightly below the U.S. average. n nKey takeaways from the report include: n n• Delaware’s yearly unemployment stood at 3.7 percent, marking the first time since 2020 it has been under the national figure of 4.0 percent. n n• Employment increased over the previous year in major urban centers such as Wilmington, Newark, and Dover. n n• Job counts rose across all three counties compared to the prior period: New Castle gained 2,000 positions (0.6 percent), Kent added 600 (0.8 percent), and Sussex saw an increase of 2,500 roles (2.7 percent). n n• The largest number of new arrivals to Delaware came from Pennsylvania, more than from any other state. n n• The Finance, Insurance, Real Estate, Rental, and Leasing sector contributed the highest share to the state’s gross domestic product, accounting for 41.2 percent of total output. n n• At 59.6 percent, the state’s annual labor force participation rate reached its lowest point since records began in 1976. n
— news from State of Delaware News (.gov)
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WILMINGTON, Del. — The Delaware Department of Labor released its Annual Economic Report – a comprehensive look at the state’s economy and workforce. Free and available to the public, the report can be downloaded online at de.gov/AnnualReport and highlights unemployment, wages by industry, city and county employment and labor force participation data. n n“Delaware Department of Labor’s Office of Occupational and Labor Market Information provides us with valuable data that can help policymakers, businesses, researchers, and the public make data-driven decisions to make Delaware a better place to live, work and run a business,” said Labor Secretary LaKresha Moultrie. “This year’s report highlights Delaware’s strong job growth and an annual unemployment rate that ticked lower than the national rate.” n nA few highlights from this year’s report: n n• For the first time since 2020, Delaware’s annual unemployment rate at 3.7 percent was lower than the national rate of 4.0 percent. n n• Over-the-year total employment grew in Wilmington, Newark and Dover. n n• Average total jobs in each county grew from the prior year: New Castle (2,000 or 0.6 percent), Kent (600 or 0.8 percent) and Sussex (2,500 or 2.7 percent). n n• Delaware saw the most new residents from Pennsylvania than any other state. n n• The Finance, Insurance, Real Estate, Rental, and Leasing Industry led all industries in GDP to the State, comprising 41.2 percent of Delaware’s total GDP. n n• Delaware’s annual labor force participation rate was the lowest since record keeping began in 1976 at 59.6 percent. n n###