BALTIMORE, MD (August 18, 2023) – The state of Maryland marks a historic low in unemployment as it fell to 1.8%, a decrease of 0.2 points from the previous month, according to data released today by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). This marks the sixth month of record-setting low unemployment rates for the state.
The preliminary survey data indicates that Maryland added 2,000 jobs in July, with the Other Services sector leading the growth by generating an additional 2,500 positions.
In addition to the Other Services sector, job creation was observed in the following areas: Leisure and Hospitality (600 jobs); Public sector (600); Mining, Logging, and Construction (400); and Information (100).
On the other hand, some sectors did experience a decline in jobs. Professional and Business Services saw a reduction of 1,200 positions, followed by Financial Activities (300); Private Education and Health Services (300); Manufacturing (200); and Trade, Transportation, and Utilities (200).
The data released by the BLS is transferred to the Maryland Department of Labor’s website and may be briefly delayed as the database is refreshed. Immediate access to the month’s job data can be found on the BLS website.
The figures encourage Maryland’s economy, reflecting continuous growth and stability across various sectors. A decrease in the unemployment rate to 1.8% underscores the state’s successful efforts in job creation and is expected to influence further economic initiatives.
The labor market dynamics are crucial indicators of the state’s economic health. The consistent growth in areas such as Leisure and Hospitality, Public Sector, Mining, Logging, and Construction illustrates the diversification and strength of Maryland’s job market.
At the same time, the reduction in specific sectors, such as Professional and Business Services, signals shifting economic trends that require continuous monitoring and potential adjustments in workforce strategies.
The detailed employment situation in Maryland, including increases and decreases across different sectors, can be further explored by visiting the Maryland Department of Labor’s website.