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NEWS: STORIES WE ARE FOLLOWING

Monthly Labor Review - APRIL 2020

Delaware’s seasonally adjusted unemployment rate in April 2020 was 14.3%, up from 5.0% in March 2020. There were 66,700 unemployed Delawareans in April 2020 compared to 17,600 in April 2019. The US unemployment rate was 14.7% in April 2020, up from 4.4% in March 2020. In April 2019, the US unemployment rate was 3.6%, while Delaware’s rate was 3.6%. 

​In April 2020, seasonally adjusted nonfarm employment was 390,600, down from 465,300 in March 2020. Since April 2019, Delaware’s total nonfarm jobs have decreased by a net loss of 74,400, a decline of 16.0%. Nationally, jobs during that period declined 12.9%. 

​​For data questions, contact:
Tom Dougherty at (302) 761-8062
YOUR CHAMBER @ WORK
From the President
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REPORT: 2020 SMALL BUSINESS CREDIT SURVEY RESULTS
​The publication of this report comes at a particularly challenging time for our nation’s small business sector. Small businesses across the country are grappling with the profound impact of the COVID-19 pandemic on their operations and on their owners’ and employees’ livelihoods. As policymakers and service providers begin to enact programs to help firms weather the economic challenges, insights about the financial position of small businesses can provide a useful perspective on how best to target funds and services.

The Delaware State Chamber partnered with the Federal Reserve Banks to put out the Small Business Credit Survey, fielded in Q3 and Q4 of 2019, offers baseline data on the financing and credit positions of small firms before the onset of the crisis. The survey findings provide insights into firms’ preparedness to withstand the shock, their existing debt levels, and the actions they may take in response to an unexpected loss of revenues.

The results of the survey raise several important considerations in the current environment:
  1. Most firms are ill prepared for a sustained period of revenue loss
  2. Firms’ reliance on personal funds could mean severe repercussions for those individuals and households in the event of failure
  3. Many small businesses do not rely on traditional banks for credit, and, therefore, any program designed to support them should take that into consideration.​

WORKFORCE DEVELOPMENT

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RESOURCES:
  • Delaware Technical Community College Continuing Education - The high demand training opportunities offered at Delaware Tech through Workforce Development and Community Education are designed for those wanting to upgrade their skills or who may want to change their career path altogether.
  • Delaware Pathways - Works hand-in-hand with key government and business partners to identify key Delaware industries with a growing shortage of skilled workers, and create Pathways to meet those future needs.
  • Delaware Workforce Development Board - Ensures the citizens of Delaware are provided with occupational training and employment service opportunities to help them achieve employment sustaining them and their families. (​Delaware Dept. of Labor)
  • Zip Code Wilmington - A coding bootcamp to fill the increasing demand for skilled,  software developers.
  • Year Up Wilmington - Offers an intensive, one-year program for college students, ages 18-24, combining professional coaching, hands-on skill development, and internships at some of America’s top companies.
  • WorkforceDelaware.com - Apprenticeship programs in the construction industry.
READY IN 6
​Analysis of Delaware Permit Competitiveness
A new independent analysis of Delaware’s permitting process finds that other states in the region, including Maryland and Pennsylvania, are able to achieve substantially faster permit approvals for businesses wishing to locate or expand in the state.  As a result, Delaware is missing significant economic development opportunities in the competition for jobs, talent and investment.

​The analysis, conducted by professional services firm KPMG, concludes that Delaware has an opportunity to be more competitive if its permitting processes were strengthened through streamlined communication between state agencies, greater transparency and cost predictability, and a fast-track approval program for high-priority projects, among other recommendations.
​The report recommends state leaders improve in three key areas to streamline the permitting process in Delaware:
  1. Enhance communication
  2. Increase efficiency and reduce paperwork
  3. Track and use data more effectively
MEMBER NEWS
STAFF PICKS
DOGFISH HEAD 
Founder Sam Calagione shows how they’re now bottling growlers of hand sanitizer to help the community. He also has a few tips for other businesses who are looking for a way to pitch in.

WHY BUSINESSES CHOOSE DELAWARE

From our accessible location and talented workforce to our quality of life and room to grow, see why businesses from Fintech to Agtech are choosing Delaware.

​​Video produced by Delaware Prosperity Partnership
EXPECT DELAYS. PLAN AHEAD.
​Rehabilitation of I-95 from I-495 to North of the Brandywine River Bridge
Beginning March 2021 DelDOT will be doing major rehabilitative roadwork on I-95 from I-495 to north of the Brandywine River Bridge. This project will have major traffic implications, but will ultimately extend the life of this vital roadway for 30 years.
​RESOURCES:
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