Around Maryland, Business

Maryland gains 8,200 jobs In January, unemployment rate the lowest on record

BALTIMORE, MD—The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) released state jobs and unemployment data this week. According to the preliminary survey data, Maryland gained 8,200 jobs in January, and the unemployment rate remained at 3.0%.

The Leisure and Hospitality sector experienced the most growth with an increase of 4,500 jobs.

Other sectors adding jobs include: Trade, Transportation, and Utilities (3,100); Private Education and Health Services (2,900); Government (2,200); Information (1,000); Other Services (800); and Financial Activities (200).

Sectors that experienced a decline include: Professional and Business Services (5,900); Mining and Logging, and Construction (500); and Manufacturing (100).

The U.S. BLS completed its annual revisions process this month. During the process, historical state and national estimates are revised to reflect new population controls, updated input data, and model re-estimation. As a result, the December jobs change was revised from a loss of 200 jobs to a gain of 4,100 jobs, and the December 2022 unemployment rate estimate was revised from 4.0% to 3.0%.

Additional information on the state’s employment data is available on the Maryland Department of Labor’s website.

Photo by Pixabay from Pexels

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