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Labor market conditions were relatively low key in January. Maryland’s seasonally adjusted unemployment rate was little changed over-the-month, rising slightly from December’s revised rate of 7.4 percent to 7.5 percent in January, according to figures released by the Maryland Department of Labor, Licensing and Regulation.
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Nationally, unemployment, while remaining more then two full percentage points above that of Maryland,
fell to 9.7 percent in January -- its first time below double-digits since last September.
During January, losses were reported in select industries, resulting in an overall decline of 2,500 from
business payrolls. There were, however, some positive movements in January’s jobs report. Employment in
natural resources, mining and construction, an industry dominated by construction, rose for the first time
since the economic downturn began. Elsewhere on private sector payrolls, January job totals were notably
higher in retail trade, administrative and support services, and leisure and hospitality industries while, in
the public sector, the number of jobs on federal payrolls advanced.
While subtle signs are beginning to emerge suggesting that the economy is on the mend, recouping job
losses, creating new opportunities and reducing unemployment will be particularly challenging given the
depth of the recession. Maryland employers have shed nearly 120,000 jobs from their payrolls since December
2007 and the number of out-of-work residents, currently at 222,433, is more than double pre-recession levels.
In order for short-term gains in Maryland’s job market to develop into full recovery, consistent and
sustained job creation must first occur at the national level.
At the local level, non-seasonally adjusted unemployment rates spanned a wide range in January.
Unemployment rates in Howard and Montgomery counties, at 6.0 percent and 6.2 percent, respectively were at
the lower end of the range. Eleven local jurisdictions reported jobless rates in the double-digits. Rates in
Somerset, Dorchester and Worcester counties were among the highest at 12.2 percent, 12.8 percent and 18.5
percent, respectively.
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