Maryland Adds 2,700 Jobs in August, Unemployment Rises Slightly

BALTIMORE, MD (September 23, 2024) – Maryland added 2,700 jobs in August, with 1,900 of those in the private sector, according to the latest data from the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). The state’s job growth rate for August was 0.1 percent, matching the national rate, but Maryland continues to surpass the nation’s year-to-date growth. Over the first eight months of 2024, Maryland’s job growth has reached 1.2 percent, compared to the national average of 0.9 percent.

The report also highlights an increase in Maryland’s labor force, which expanded by 5,233 workers during the month. While this influx contributed to job growth, it also caused a slight rise in the unemployment rate, which ticked up by 0.1 percentage points to 2.9 percent. Despite this increase, Maryland’s unemployment rate remains among the lowest in the country and significantly below the national average of 4.1 percent.

Sector-Specific Growth and Declines

The top five sectors contributing to Maryland’s job growth in August were:

1. Private Educational Services, which added 5,000 jobs.
2. Transportation, Warehousing, and Utilities, gaining 1,200 jobs.
3. Arts, Entertainment, and Recreation, with 900 jobs added.
4. Government, which grew by 800 jobs.
5. Real Estate, Rental, and Leasing, adding 500 jobs.

However, the state also experienced job losses in key sectors, including:

1. Accommodation and Food Services, which lost 1,700 jobs.
2. Construction, with a decline of 800 jobs.
3. Retail Trade, losing 600 jobs.
4. Other Services, with a loss of 600 jobs.
5. Professional, Scientific, and Technical Services, also down by 600 jobs.

Seasonal Patterns Affecting Data

Each month, the BLS adjusts employment data to account for typical seasonal hiring patterns, which may have affected Maryland’s numbers for August. Gains in sectors such as Private Educational Services and losses in Accommodation and Food Services may reflect these seasonal adjustments. The state’s economy typically experiences fluctuations in these industries due to the start of the school year and the end of the summer tourism season.

The report underscores the possibility that this seasonal adjustment process occurred slightly earlier than usual this year, influencing job figures in certain sectors. As such, some of the employment changes could represent standard seasonal shifts rather than significant long-term trends.

Year-to-Date Job Growth

With the addition of 31,800 jobs so far in 2024, Maryland’s economy continues to demonstrate resilience. The state’s employment growth outpaces the national rate, with its 1.2 percent increase offering a positive contrast to the U.S. average of 0.9 percent. This consistent growth has been driven by strong performances in sectors such as private education, transportation, and government services.

As Maryland’s labor market continues to expand, policymakers will likely focus on maintaining momentum while addressing challenges in sectors that have seen declines, such as accommodation and food services. The slight uptick in unemployment, largely driven by a growing labor force, remains a point of focus, but Maryland’s overall employment outlook remains positive compared to national trends.

For more detailed and immediate access to Maryland’s employment situation and BLS data, visit the Maryland Department of Labor’s website or the Bureau of Labor Statistics.

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