Viewpoint: Why Delaware’s economy will remain constrained
From Delaware Business Times
Editor’s Note: The authors participated in our first Delaware Dialogue, published in the July 23 issue, and offered to write the following on the state of Delaware’s economy.
Over the past 10 years, using the standard measures — e.g., output, employment, personal income, annual wages and median household income — the Delaware economy has been performing poorly. Even Delaware’s low unemployment rate, the 11th-lowest among the states, is due primarily to slow growth in the state’s labor force.
Will these slow times pass? After all, the Delaware economy has been hit with some major blows: the closing of two automobile plants, the downsizing of DuPont and AstraZeneca, and the impact of the 2008 Recession on the financial services industry.