Maryland’s seasonally adjusted
unemployment rate was little changed over-the-month, falling by 0.1 of a
percentage point, from 3.6 percent in December to 3.5 percent in January
according to Maryland’s Department of Labor, Licensing and Regulation. In a ranking of
unemployment rates across the nation, Maryland
reported the 11th lowest jobless rate during January.
Nationally, unemployment, at 4.9 percent in January, remained more than a full percentage point above the statewide
estimate although downsizing in the labor force caused unemployment to
inch down slightly from December’s rate of 5.0 percent.
While national payrolls contracted during January,
Maryland’s economy, posting a gain of 900 jobs, managed to sidestep the ripple
effects from the national movement. Increases in retail trade, educational
and health services and leisure and hospitality industries contributed to Maryland’s monthly upturn. Since last
January, Maryland industry base has grown by 21,500 jobs. This increase, while modest by
historical standards, is, nonetheless, a noteworthy advance considering the economic climate of 2007.
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