Delaware Demographics

Issue 11.07

February 21, 2025

VOTING IS OPEN!

53 PRODUCTS IN THE RUNNING FOR THE COOLEST THING MADE IN DELAWARE

After a month-long nomination period, 53 products from 44 manufacturers across the First State are now competing in the contest. Employers, employees, consumers, and the general public are encouraged to participate in the voting. Votes can be cast once per day, per device. Cast your vote >

After the popular vote round ends on February 27, the top 16 products—one per company—will proceed to compete in the bracket-style contest on March 6, ultimately culminating in one champion named at the Spring Manufacturing & Policy Conference on March 27.

COMPETITIVENESS BLUEBOOK

A LOOK AT DEMOGRAPHICS & WORKFORCE

While Delaware benefits from positive in-migration (16th), particularly when compared to neighboring states like Pennsylvania, Maryland, New Jersey, and New York, much of that growth is attributed to retirees and our ranking as the 6th oldest state. This demographic shift will have profound implications for the state’s future workforce, education and health care systems, and public investment decisions.

Delaware’s declining labor force participation rate—from 62.27% in 2019 to 59.17% in October 2024—is in part due to an aging workforce. It is the lowest rate among neighboring states, including Virginia, Maryland, New Jersey, and Pennsylvania. With skilled workers increasingly in shorter supply and the definition of qualified workers expanding, it becomes imperative to continue looking for ways to enhance, attract, and retain our workforce.

This is just the beginning. While some strengths and opportunities were outlined above, there is much work to do around infrastructure, education, housing, and more. Over the course of 2025, the Delaware State Chamber will provide in-depth analysis of some of the key data from our Competitiveness Bluebook to help us understand and chart a path forward. Reach out to Regina Donato to request a free copy of the 2025 Competitiveness Bluebook for Delaware.

A LOOMING DEMOGRAPHIC CLIFF

FEWER COLLEGE STUDENTS & ULTIMATELY FEWER GRADUATES

From NPR

The "demographic cliff" has been predicted ever since Americans started having fewer babies at the advent of the Great Recession around the end of 2007—a falling birth rate that has not recovered since, except for a slight blip after the COVID-19 pandemic, according to the CDC.

But the downturn isn't just a problem for universities and colleges. It's a looming crisis for the economy, with fewer graduates eventually coming through the pipeline to fill jobs that require college educations, even as international rivals increase the proportions of their populations with degrees. Read more >

From the Wall Street Journal

The world is at a startling demographic milestone. Sometime soon, the global fertility rate will drop below the point needed to keep population constant. It may have already happened. ... Many government leaders see this as a matter of national urgency. They worry about shrinking workforces, slowing economic growth and underfunded pensions; and the vitality of a society with ever-fewer children. Read more >

This article requires a subscription to The Wall Street Journal to view

PRESIDENT'S MESSAGE

Artificial intelligence (AI) is set to disrupt several sectors of the economy. I received a preview of a report we are commissioning (and look forward to sharing soon) that states, “AI will have a significant impact on Delaware businesses, though the exact timing and extent remain uncertain. However, most experts agree that AI adoption will accelerate in the coming years. Industries expected to be most affected include finance and insurance, retail trade, and health services—all of which are vital to Delaware’s economy.” Read more >

PHOTOS OF THE WEEK

Over 200 business leaders gathered on Thursday for the largest State of the Guard address to date, where Brigadier General Michael Karwatka highlighted the Delaware National Guard’s 2024 accomplishments and 2025 plans. Congratulations to Dover Federal Credit Union and Chesapeake Utilities, our 2025 Warrior Friendly Business Award winners!

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