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“Nationals October 2019

Maryland’s economy and recovery outpacing most other states

| August 24, 2020, 01:54 PM

The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) reported last week that the State of Maryland added 53,900 jobs in June, and the unemployment rate decreased to 7.6%—more than 25% lower than the national unemployment rate. Maryland has now gained 156,200 jobs during the ongoing recovery from the COVID-19 pandemic.

Maryland’s unemployment rate is the lowest in the region, including Virginia at 8.0% and the District of Columbia at 8.4%.

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“We are doing much better on our health metrics than most of the country, and we are doing much better on our economic recovery than most of the country, and we want to do what it takes to keep it that way,” said Governor Hogan. “I want to thank the many businesses that have been taking the health and safety precautions so seriously, and those that have been taking the ‘Maryland Strong: Back to Business Pledge’ and displaying it on their storefronts and places of business. Your actions are helping us get more Marylanders back to work, and keep Maryland open for business.”

June’s preliminary jobs estimate was revised upwards by 5,600 jobs, from a gain of 68,300 jobs to a gain of 73,900 jobs.

According to the report, the Leisure and Hospitality sector experienced the most growth with an increase of 26,100 jobs. The Trade, Transportation, and Utilities sector increased by 8,300 jobs from the Retail Trade (5,500), Transportation, Warehousing, and Utilities (2,500), and Wholesale Trade (300) subsectors.

Other sectors that experienced growth include: Other Services (4,100); Mining, Logging, and Construction (2,600); Manufacturing (1,500); Financial Activities (600); and Information (100). The Professional and Business Services sector decreased by 2,500 jobs. The Education and Health Services sector decreased by 500 jobs.

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Category: Businesses, COVID, LIFE IN THE AREA, Local News, NEWS, Post To FB

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