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While the unemployment rate has remained somewhat steady over the past six
months, jobseekers continue to encounter a tight job market as
evidenced by the number of jobseekers who opted to discontinue their
search – a movement which, in fact, helped to minimize the impact of monthly employment declines.
In recognizing the challenges continuing to face jobseekers across the
nation, Congress recently passed legislation to extend unemployment benefits by an additional 14 weeks.
During October, 1,500 jobs were added to statewide industry payrolls.
Durable goods manufacturing, administrative and support services and
local education were the primary industries driving this
upturn.
October’s job report should be viewed with cautious optimism. Industry
payrolls have been up and down over the past few months; signs of
sustainable growth have yet to emerge. The upcoming merger between
Black and Decker and Stanley Tools, which is expected to put about
250 Marylanders out of work, will create an additional stumbling block to future economic progress.
Since last October, Maryland’s business payrolls have receded by just over 51,000 jobs.
At the local level, non-seasonally adjusted unemployment rates trended
upward in October, rising in each jurisdiction. The largest
increases were reported in the Shore Area counties where seasonal
economics are pivotal in market activity. As is the norm, Worcester
County’s rate was the most influenced, increasing by more than two
full percentage points to reach 10.0 percent in October.
Unemployment in Dorchester County was, however, the statewide high, climbing up on the double-digit scale to 11.2 percent.
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