Delaware’s economic index

State Treasurer Flowers’ office has posted new economic numbers in the “Delaware mini economic index”as of this November. Here are some of the numbers:

The State’s economic climate over the last 60 days is rated as “Fair”, which is the middle rating. The national growth is listed as “weak”.

The weakness is being led by a slowing housing market. After all, one can only buy so many homes at artificially low interest rates, can we?

There was an increase of 50 Delawareans per week filing jobless claims. This number will likely change when the EVRAZ steel plant in Claymont and the Georgia-Pacific plant in Harrington shut down.

Delaware had 440,172 people in the labor force in August 2013 (Delaware Dept. of Labor). 32,116 were part time, the rest full time. There are 1,600 fewer Delawareans working in August than in July, and likely fewer now than in August when the new numbers come out. The U-3 unemployment rating went from 7.3% to 7.4%, which is about the national average. A few places like CarMax and Kraft Foods are adding some new jobs or expanding on existing ones, but the numbers are small.

Gas prices have been dropping slowly but steadily, to the point where some are wondering if $3 a gallon gas by New Year’s is possible.

When September and October numbers come out, we will post them for you. Overall: Delaware could be in worse shape, but we could be in better shape as well. CRI has been offering ideas and solutions to address our economic growth issues. Visit http://www.caesarrodney.org to learn more.

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