Business

Maryland gained 14,900 jobs, unemployment rate fell to 5.7% in October


BALTIMORE, MD—The U.S. Department of Labor’s Bureau of Labor Statistics on Friday released Maryland jobs and unemployment data. According to the preliminary survey data, the state gained 14,900 jobs and the unemployment rate decreased to 5.7% in October.

This marks the lowest unemployment rate since the beginning of the COVID-19 pandemic.

October was the strongest month of jobs growth this year for the private sector and was the second strongest month for jobs growth in Maryland in 2021. All major private sectors experienced job growth in October, for the first time since September 2020. More than three quarters of jobs lost at the beginning of the pandemic have now been recovered (73% in September, 77% in October). Since the beginning of 2021, Maryland has gained a total of 84,000 jobs.

The Leisure and Hospitality sector had the largest private sector jobs growth with 4,800 jobs. Other sectors that experienced growth include: Professional and Business Services (3,900); Trade, Transportation, and Utilities (3,000); Education and Health Services (1,800); Mining, Logging, and Construction (800); Information (700); Manufacturing (300); Other Services (300); and Financial Activities (100).


Photo by Pixabay from Pexels

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