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BALTIMORE, MD (March 7, 2008) – 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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