MESSAGE FROM THE PRESIDENT


March 18, 2024

Demographic numbers are among the most telling statistics and probably the easiest to understand. However, adjusting policy to meet these realities is never easy. For example, according to U.S. Census Data, Delaware ranks as the fourth oldest state in the country. Interestingly, 5.2% of our population, or 51,230 people, are kids under 5 years old. For ages 5 to 17, we rank 38th out of the 50 states and have around 15.7% of our population in that age range. 17.7% of our population, or 175,000 people (measured in 2020), are between the ages of 65 to 84. We also know that this age cohort has been coming steadily to Delaware since these numbers were published. The good news for us is this group ranks third lowest for poverty compared to seniors in the other 50 states.


There are many implications associated with our shrinking birth rates and growing senior population. What does this mean for schools, teachers, childcare, and more? How about seniors? It is a reality that people in their sixth, seventh and eighth decades of life (more if you are lucky) have greater and more complicated healthcare needs. Employers who serve these populations are already adjusting their workforce to meet these new “norms,” while other industry sectors continue to do similarly. 


We applaud those who are working to improve the alignment of our education, workforce, and training needs. Here at the State Chamber, our workforce development affiliate, The Partnership Inc., is hosting the Navigating Delaware Pathways: An Education and Workforce Development Summit on April 16 to highlight this important need. The states that perfect this alignment will undoubtedly prosper in the years ahead. 

News You Can Use

A couple of key indicators kick off the week today with the Homebuilder Confidence Index for February. Tuesday brings us February housing starts, and February building permits results. The Federal Reserve will announce its decision on interest rates on Wednesday afternoon, followed by a press conference by Fed Chair Powell. Thursday brings us more housing data with existing home sales figures for February, U.S. leading economic indicators for February, and March results from the Philadelphia Fed manufacturing survey. We wrap up a very busy week with Fed Chair Powell taking part in the Fed Listens event. 


By contrast, this is a light week for companies with scheduled earnings calls. Science Applications (SAIC) leads things off today, while Tencent Music is the noteworthy call on Tuesday. BioNTech, BRP, General Mills, Micron, Signet Jewelers and Steelcase are on the Wednesday schedule, while Darden Restaurants, FedEx, Nike, and Lululemon Athletica round out the rest of this week’s calls.  

Michael J. Quaranta
President
Delaware State Chamber of Commerce

Uniquely Delaware

Dover, Delaware Ranked 5th Nationwide for Young Homeowners

This Old House, a media empire that for decades has been extolling old houses, just looked at how each generation approaches homeownership and what drives the decision to plant roots or seek new horizons. And Delaware makes a prominent appearance.


Dover is No. 5 on a list it compiled of the country’s metropolitan areas for the greatest percentage of homeowners who are 34 or younger, with 20%. Read more >

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Upcoming Events

Spring Manufacturing & Policy Conference

Thursday, March 28

9:00 am - 1:00 pm

 

Delaware Technical Community College

100 Campus Dr., Dover

More Than the 9 to 5: Presented by the DYPN

Thursday, April 4

5:00 pm - 7:00 pm

 

University of Delaware Stadium, President's Suite

625 S. College Ave., Newark

Networking Breakfast at Delaware Safety Council

Thursday, April 11

7:30 am - 9:00 am

 

Delaware Safety Council

2 Penns Way, Ste. 201,

New Castle

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