by James DeChene
The announcement of a 500K plus downward revision to the number of jobs created since 2018 coincides with this month’s Delaware labor report showing that Delaware, while not being revised downward, saw most of its recent job creation over the last 12 months happen in 2018. What is unknown as of now is whether or not this is a sign of a weakening economy. Bear in mind that nationally there are over 7 million more jobs than employees to fill them, and wage gains are among the highest in the last 20 years. (I’ve written about the wage increases catching up for low skill workers in the last few years, surpassing where they were pre-Great Recession). Consumer confidence remains high, and all eyes are on whether the ongoing trade war with China will erode that confidence, and if so, how fast.
Locally I hear employers remain confident about overall economic conditions. Concerns when raised revolve around available access to talent (join us on October 8th for our Developing Delaware event to learn more), and more specifically finding younger workers for positions to replacing their soon-to-be-retired older colleagues.
James DeChene is the Chamber's Senior Vice President of Government Affairs.