Delaware is one of our smallest states, but it also happens to be one of the nation’s slowest growing states as well. In 2010, the state grew only about 1.3% and Delaware’s GDP is somewhere in the ballpark of $56 billion. So, if you are moving to Delaware in the near future, you may be interested to read on.
In early 2010, one of Delaware’s biggest moneymaking sectors took a big hit. That sector is manufacturing, believe it or not – plastics and other chemicals are manufactured in Delaware. In fact, DuPont is based in the state.
DuPont, a major player in the manufacturing sector, is one of Delaware’s biggest employers. Before 2010, many people moved to Delaware to work for the company. When the recession hit, the company cut thousands of jobs and many were forced to relocate.
Recently, DuPont’s profits have begun to rebound, but overall Delaware’s manufacturing sector still hasn’t come back full force. This can be seen clearly in the state’s unemployment rate, which was at an all-time high at 8.8% in January 2010. In April of 2011, it hadn’t moved much lower, hitting 8.2%.
So, if you are thinking of moving to Delaware anytime soon, you may want to double-check your employment opportunities. Perhaps you are moving for a company transfer, which is great. But if you are moving to the state without a job, you may want to really weigh your options up first.
Jon Huser
