Friday, May 18, 2012

MD unemployment rate edged up, but so did manufacturing employment

Maryland's unemployment rate edged up one tenth of one percentage point in April, to 6.7 percent.  This is still down from a year ago, when the unemployment rate was 7.1 percent.  There were 1,400 more Marylanders in the labor force last month compared to the month before, but 2,500 fewer employed residents. Because the growth in the ranks of the unemployed was larger than the growth in the labor force, the bump up in the unemployment rate was likely the result of actual jobs lost rather than merely a larger pool of workers.

In the accompanying survey of establishments, Maryland businesses employed 6,000 fewer individuals in April (the total differs from the unemployment rate figures above because - due to differences in methodology between the two surveys - some of these individuals may work in MD but live out of state, or work more than one job).  The largest decline was in the leisure and hospitality sector (-3,900), followed by the professional and business services sector (-2,200).  The government sector also lost 100 jobs.

More positively, the manufacturing sector added 1,200 jobs in April.  Education and health services - a perennial employment generator for the state - also added 700 employees last month.  Overall, Maryland's employers have added 40,600 new jobs since April of 2011.

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