Business

Maryland adds 5,500 jobs in August, unemployment rate rises



BALTIMORE, MD—The U.S. Department of Labor’s Bureau of Labor Statistics on Friday released state jobs and unemployment data.

According to the preliminary survey data, Maryland added 5,500 jobs and the unemployment rate increased to 4.3% in August. An additional 13,400 individuals, many of whom left the labor force during the pandemic, began looking for work again. The rise in individuals looking for work resulted in an increased unemployment rate—individuals are only considered unemployed if they do not have a job and are actively looking for work.

Compared with August 2021, Maryland jobs are up by 72,400, an over-the-year increase of 2.7%.

The Manufacturing sector continues to trend upward with full jobs recovery as of August. This sector now employs more workers than before the pandemic.

The Trade, Transportation, and Utilities sector experienced the most growth with an increase of 3,200 jobs from the Trade, Warehousing, and Utilities (1,900); Retail Trade (900); and Wholesale Trade sub-sectors (400).

Other sectors that experienced growth include: Professional and Business Services (1,700); Manufacturing (900); Education and Health Services Other Services (800); Financial Activities (800); Information (500); and Other Services (200). Total jobs in the Mining Logging, and Construction sector remained the same.

The Leisure and Hospitality sector decreased by 100 jobs.

July’s preliminary jobs estimates were revised upwards by 2,000 jobs, from a gain of 12,000 jobs to a gain of 14,000 jobs. Since January 2022, Maryland has gained 51,900 jobs.

Photo by Pixabay from Pexels



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