Maryland Unemployment Rate Drops to 5.7 Percent
Preliminary report shows 600 jobs lost; gains in Manufacturing, Hospitality and Professional Services
BALTIMORE, MD (March 28, 2014) – The U.S. Department of Labor's Bureau of Labor Statistics (BLS) released state jobs and unemployment data
earlier today. According to the preliminary survey data, Maryland’s February 2014 unemployment dropped to 5.7 percent—the lowest since November
2008. Maryland’s unemployment rate for January was unchanged with revision, at 5.8 percent.
“While this month’s report continues to reflect losses
from recent seasonal factors, the Maryland Department of
Labor remains focused on cultivating a thriving workforce
that can meet the demands of Maryland’s dynamic
economy,” said Maryland Labor Secretary Leonard Howie.
“Every choice we make is about creating and filling
good-paying, sustainable jobs, expanding opportunity, and
strengthening Maryland’s middle class, now and for
generations to come.”
For February, Maryland‘s preliminary job totals were
estimated as a decrease of 600 jobs. Maryland’s
preliminary January jobs estimate was revised upward by BLS,
with the originally estimated loss of 9,800 jobs revised to
a decline of 6,100 jobs. Maryland has made significant
progress in the jobs recovery. Compared with February 2013,
the State has added 7,600 jobs, including 6,400 in the
In the private sector, the Manufacturing Sector gained
300 jobs and the Nondurable Goods subsector gained 400 jobs.
The Leisure and Hospitality Sector added 3,900 jobs. The
Professional and Business Services Sector added 400 jobs and
the Administrative and Support Services subsector added
2,100 jobs. The Financial Activities Sector gained 800 jobs.
Several factors indicate that Maryland’s economic
strength is still growing. Median home sale prices rose by
2.6 percent in February to $241,097 and were up 7.7 percent
above last year, recording the 25th consecutive month of
year-over-year increases. Property foreclosures in Maryland
continued to decline in February and posted the lowest
year-over-year growth in 16 months. In 2013, Maryland moved
more people from welfare to work than at any other point in
the state’s history, and 27 percent of those were placed
in jobs paying $10 per hour or higher. And in 2013, Maryland
ranked 4th in the nation, and #1 in the region, for total
green jobs, according to Environmental Entrepreneurs.
The Department of Labor, Licensing and Regulation protects and empowers Marylanders by safeguarding workers,
protecting consumers, providing a safety net and cultivating a thriving workforce that can meet the demands of
Maryland's dynamic economy. For updates and information, follow DLLR on
(@MD_DLLR), Facebook and visit our
website . Get more information on EARN Maryland.
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