MD unemployment falls to 6.5 percent

Maryland's unemployment rate fell again, to 6.5 percent in April, according to figures released today by the Bureau of Labor Statistics (BLS). The March unemployment rate had previously been estimated at 6.6 percent. April's figures were better than the national rate of 7.5 percent, but still roughly double Maryland's unemployment rate at the start of the Great Recession.

According to the BLS, Maryland's labor force grew while the ranks of the unemployed shrank. Almost 3,700 more Marylanders were employed in April than in March. Compared to April 2012, more than 31,000 more Marylanders were employed last month.

Interestingly, the data from employers showed an opposite trend. Overall, employers reported 6,200 fewer positions in April. Losses were spread broadly across the private sector--the only industries to show job growth were manufacturing; trade, transportation and utilities; and government. The most likely reason for these conflicting trends is that Maryland workers are either crossing state lines to find work, or they are starting their own businesses and thus do not appear in the second data set.

MD unemployment down to 6.9 percent

BLS released state-level employment figures for September this morning. Maryland's unemployment rate fell for the first time in six months, to 6.9 percent.

More than 11,000 Marylanders joined the ranks of the employed, as state employers added 9,800 jobs. Every industry sector added jobs or was flat, except for financial services which lost 300. The largest gains were in professional and business services (4,100 new jobs) and trade, transportation, and utilities (2,000 new jobs).

Positive employment trends such as those shown here are good news for Marylanders and the state's budget. Increased employment means more income tax and more purchases resulting in sales tax, the two main components of state revenue. It also suggests that demand for social services may decline in the future, if the jobs added pay a living wage. If this trend continues, Maryland will be better positioned to pay for the investments in schools, roads, public safety, parks, and healthcare that make this state great.

Of course, as we highlighted earlier today, if Congress fails to act to avert sequestration or the fiscal cliff Maryland could be back at square one.

US unemployment falls

Those of us who pay attention to the economy and labor markets got some moderately good news today. National unemployment fell in September to 7.8 percent, according to new data from the Bureau of Labor Statistics.

Click to enlarge

However, it's important to remember that far too many folks are still out of work. Some groups are particularly hard hit: teenagers (23.7 percent unemployed), blacks (13.4 percent unemployed), and Hispanics (9.9 percent unemployed) in particular.

A further 2.5 million Americans are classified as marginally attached workers; willing and able to work, but not counted in the labor force because they haven't looked for work in the last four weeks.

Increases in employment were concentrated in the health care industry, transportation and warehousing, and the financial activities industry. Combined, these three industries added 74,000 jobs. Manufacturing employment declined by 16,000 positions nationwide.

MD employers add 1,400 jobs, but unemployment rate rises

The Bureau of Labor Statistics released August 2012 state employment figures today. Maryland's unemployment rate rose slightly, to 7.1 percent.

The state's unemployment rate rose because the labor force (those working or actively looking for work) shrank while the ranks of the unemployed grew. In other words, there were 9,200 fewer employed Marylanders (down to 2,854,100) in August than in July. That was still 4,500 more employed Marylanders than in August 2011.

However, there were 1,400 more jobs located in Maryland last month than the month prior. Down industry sectors included construction (lost 100 jobs); manufacturing (lost 100 jobs); trade, transportation, and utilities (lost 700 jobs); financial activities (lost 1,400 jobs); and education and health services (lost 2,200 jobs). The only sectors with positive growth were professional and business services (added 1,200 jobs); leisure and hospitality (added 1,000 jobs); and government (added 3,900 jobs). The numbers don't quite add up because of rounding.

The continued weak labor market continue to make the case for a bold economic agenda for all Marylanders.