Employment Situation - July 2008


BALTIMORE, MD (August 15, 2008) – Department of Labor, Licensing and Regulation Secretary Thomas E. Perez today announced that with hiring demand down in an already tight labor market and increasing numbers of Marylanders entering the job market, Maryland’s seasonally adjusted unemployment rate climbed to 4.4 percent in July from 4 percent in June.

“The deterioration in national economic conditions clearly continues to take its toll on Maryland’s job market,” Secretary Perez said. Maryland’s private sector job creation, which has been uneven throughout the year, trended downward in July. The current unemployment rate is up from 3.6 percent recorded a year ago, but Maryland’s unemployment rate remains considerably below that of the nation, which rose to 5.7 percent in July.

Hiring at the federal level and in local government summer programs helped to elevate total employment in July, but the increase was mitigated by a decline of 500 jobs on private sector payrolls. While July is not typically a month of large job increases, the current decline, coupled with a private sector job loss of 1,100 jobs reported in June, is an added weight on Maryland’s job market in light of the continuing weakness in the construction, manufacturing and finance sectors.