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DLLR News

 

Maryland Unemployment Rate 2.2 Percentage Points Below National Average

 

Bureau of Labor Statistics releases state jobs and employment data

BALTIMORE, MD (July 22, 2011) - Two weeks after the national jobs report for June 2011 showed that the national economy added a modest 18,000 jobs, the U.S. Department of Labor Bureau of Labor Statistics (BLS) released statewide jobs and employment data today. According to preliminary BLS data, Maryland lost 300 jobs from May to June, down significantly from outlier job losses in May. Maryland’s 7.0 percent unemployment rate is 2.2 percentage points below the national 9.2 percent average.

“June was another soft month in Maryland’s recovery and a reminder that we must stay focused on the principles that will secure Maryland’s economic future,” said Maryland Labor Secretary Alexander M. Sanchez. “During our recovery, which will require determined work from all Marylanders, it is more important than ever before to protect our investments in the state’s human capital, strengthen partnerships with employers and labor leaders and avoid short cuts that other states have taken.”

Because of the O’Malley-Brown administration’s fiscal leadership before and during the national recession, Maryland fared better than many other states. Maryland’s unemployment rate held well below the national rate throughout the recession and is currently 25 percent better than the nation’s. Maryland also remains one of only eight states to hold a Triple-A bond rating. Through forward-looking reforms passed since 2008, Maryland is one of only 20 states to maintain a solvent unemployment insurance trust fund. While other states’ trust funds are in debt to the federal government and face the threat of higher premiums on employers in future years, Maryland’s fiscal responsibility during difficult economic times will help lower payroll expenses for employers more quickly and make Maryland a more attractive state for businesses.

BLS revised May’s preliminary jobs data, cutting the number of jobs Maryland lost in May from 13,300 to 9,600.

In June, the state added 2,800 jobs in Professional and Business Services, 800 in Other Services and 500 in Information. Maryland also added 1,300 jobs in the Transportation, Warehousing and Utilities subsector and created 3,500 state and local government positions. The state lost 1,400 federal jobs – likely a result of federal budget compromises that have reduced funding for federal agencies headquartered in Maryland. Maryland shed 2,400 private sector jobs in June, including 2,800 in Natural Resources, Mining and Construction. The Educational, Health Care and Social Assistance supersector lost 1,800 jobs. In all, the state lost 300 jobs in June.

he 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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