Around Maryland, Business

Maryland unemployment rate rises in October, still lowest in nation



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’s total jobs decreased by 11,100 and the unemployment rate increased to 1.7% in October. Maryland’s unemployment rate continues to be the lowest in the nation.

Sectors that created jobs include: Trade, Transportation, and Utilities (1,500) and Other Services (800).

Sectors that experienced a decline include: Professional and Business Services (3,100); the Public sector (2,800); Mining, Logging, and Construction (1,700); Private Education and Health (1,700); Leisure and Hospitality (1,300); Manufacturing (1,100); Financial Activities (900); and Information (800).

The preliminary estimate of employment growth in September 2023 was revised upward by 5,800 jobs: from a gain of 11,200 to a gain of 17,000 jobs. Although monthly estimates can fluctuate, Maryland’s job growth over the last three months (July to October) has outpaced national growth (0.6% vs 0.4%). Furthermore, Maryland’s unemployment rate remains near record lows – only September 2023 had a lower rate of any month on record.

Photo by Pixabay from Pexels



Please follow and like us: