DLLR's Division of Workforce Development and Adult Learning

 

Labor Force and Industry Developments - Monthly Labor Review - October 2012

 

Maryland Creates 14,000 Jobs in October

Best month for private sector job creation since 1996

The U.S. Department of Labor's Bureau of Labor Statistics (BLS) released state jobs and unemployment data earlier today. According to the preliminary survey data, Maryland gained 14,000 jobs during October, more than doubling last year's September to October gain of 5,900 jobs. This is the largest increase for-the-month since 1999, and marks Maryland's third consecutive month of job gains. The private sector was the sole source of job generation in October. The preliminary September jobs report that indicated an increase of 9,800 jobs was today revised to a gain of 9,500 jobs.

According to the BLS, Maryland's preliminary October unemployment rate dropped by two tenths of a percentage point to 6.7 percent. The preliminary September rate remained unchanged with revision - holding steady at 6.9 percent.

 
Seasonally Adjusted Unemployment Rates - Maryland and US - 
       October 2011 through October 2012
 
Seasonally Adjusted Unemployment Rates
Maryland and US
October 2011 through October 2012
   
  MD US
Oct 11 6.9% 8.9%
Nov 6.7% 8.7%
Dec 6.6% 8.5%
Jan 12 6.5% 8.3%
Feb 6.5% 8.3%
Mar 6.6% 8.2%
Apr 6.7% 8.1%
May 6.7% 8.2%
June 6.9% 8.2%
July 7.0% 8.3%
Aug 7.1% 8.1%
Sept 6.9% 7.8%
Oct 6.7% 7.9%
 

"Maryland continues to make real progress toward recovery from the national recession," said Maryland Labor Secretary Leonard Howie. "This report is a clear indication that the O'Malley Administration's investments in our workforce development initiatives are working. Together, we're fostering an environment where businesses can continue to thrive and create jobs."

Within Maryland's private sector, sizeable gains were recorded in a number of sectors. Professional and Business Services were up by 3,900 jobs, with gains of 4,700 in Professional, Scientific & Technical Services boosting the sector. Within Professional, Scientific and Technical Services, firms engaged in computer systems design and scientific R&D activities supported the sector expansion. Professional and Business Services has been the leading job producer over the past year, expanding at a rate of 5.1 percent and adding 20,300 jobs to Maryland's business payrolls since October 2011.

In addition, Trade/Transportation/Warehousing/Utilities advanced by 3,700 jobs - with the retail trade component propelling the sector. Leisure & Hospitality gained 3,700 jobs over-the-month, a gain predominantly reinforced by strength shown in food services industries. Education/Health Care was up by 2,700 jobs over-the-month and Natural Resources/Mining/Construction gained 2,300 jobs.

The Department of Labor, Licensing and Regulation protects and empowers Marylanders by safeguarding workers, protecting consumers, providing a safety net and cultivating a thriving workforce that can meet the demands of Maryland’s dynamic economy. Follow DLLR on Twitter (@MD_DLLR) and Facebook.

 

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