DLLR's Division of Workforce Development and Adult Learning

 

Labor Force and Industry Developments - Monthly Labor Review - October 2011

 

Maryland Unemployment Rate Drops to 7.2 Percent, 3,100 New Jobs Created During October

Unemployment rate improves 0.2 percentage points

Fourth straight month of over-the-year growth

13,000 additional Marylanders working; 3,000 fewer unemployed

20,400 jobs created since January - 19,200 in private sector

BALTIMORE, MD (November 22, 2011) - Maryland's unemployment rate improved to 7.2 percent in October, a 0.2 percentage point drop. The state's unemployment rate is 1.8 percentage points better than the national average and among the lowest in the nation. Data released today by the U.S. Department of Labor Bureau of Labor Statistics also showed that Maryland added 3,100 jobs in October, including 1,900 in the private sector. Since October 2010, Maryland has added 9,700 jobs, the fourth straight month of over-the-year growth.

"Maryland continues to make progress toward recovery. During October, 13,000 additional Marylanders started working, our unemployment rate improved 0.2 percentage points and our employers added 3,100 jobs," said Maryland Labor Secretary Alexander M. Sanchez. "This month's report supports the evidence that Maryland is an economic leader and among the best states to do business. Still, we must protect our investments in skills training and maintain our status as one of the best positioned states to recover quickly and sustainably."

Several recent independent reports show Maryland's strong standing as a great state to do business. An M&T Bank report released earlier this month shows that, in part because of the state's highly-educated workforce, Maryland is the 11th best state for business and a national study reports that Maryland has the highest per capita population of millionaires in the country.

Maryland added jobs in most supersectors during October, including 2,100 jobs in Trade/Transportation/Utilities, 1,500 in Finance and 1,400 in Educational and Health Care/Social Assistance. State and local governments added 2,300 jobs. Since the start of the year, Maryland has added 20,400 jobs - the strongest January to October growth on record since 2005.

Nearly 13,000 additional Marylanders were working in October than in September and 3,000 fewer were unemployed. Since October 2010, more than 17,600 additional Marylanders are employed and more than 3,700 fewer are unemployed.

 
Seasonally Adjusted Unemployment Rates - 
            Maryland and US - October 2010 through October 2011
 
Seasonally Adjusted Unemployment Rates
Maryland and US
October 2010 through October 2011
   
  MD US
Oct 10 7.4% 9.7%
Nov 7.4% 9.8%
Dec 7.4% 9.4%
Jan 11 7.2% 9.0%
Feb 7.1% 8.9%
Mar 6.9% 8.8%
Apr 6.8% 9.0%
May 6.8% 9.1%
June 7.0% 9.2%
July 7.1% 9.1%
Aug 7.3% 9.1%
Sept 7.4% 9.1%
Oct 7.2% 9.0%
 

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. Follow DLLR on Twitter (@MD_DLLR) and Facebook.

 

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