Unemployment rate improves 0.2 percentage points
Fourth straight month of over-the-year growth
13,000 additional Marylanders working; 3,000 fewer unemployed
20,400 jobs created since January - 19,200 in private sector
BALTIMORE, MD (November 22, 2011) - Maryland's unemployment rate improved to 7.2 percent
in October, a 0.2 percentage point drop. The state's unemployment rate is 1.8 percentage
points better than the national average and among the lowest in the nation. Data released
today by the U.S. Department of Labor Bureau of Labor Statistics also showed that Maryland
added 3,100 jobs in October, including 1,900 in the private sector. Since October 2010,
Maryland has added 9,700 jobs, the fourth straight month of over-the-year growth.
"Maryland continues to make progress toward recovery. During October, 13,000 additional
Marylanders started working, our unemployment rate improved 0.2 percentage points and our
employers added 3,100 jobs," said Maryland Labor Secretary Alexander M. Sanchez. "This
month's report supports the evidence that Maryland is an economic leader and among the
best states to do business. Still, we must protect our investments in skills training
and maintain our status as one of the best positioned states to recover quickly and sustainably."
Several recent independent reports show Maryland's strong standing as a great state
to do business. An M&T Bank report released earlier this month shows that, in part
because of the state's highly-educated workforce, Maryland is the 11th best state for
business and a national study reports that Maryland has the highest per capita population
of millionaires in the country.
Maryland added jobs in most supersectors during October, including 2,100 jobs in
Trade/Transportation/Utilities, 1,500 in Finance and 1,400 in Educational and Health
Care/Social Assistance. State and local governments added 2,300 jobs. Since the start
of the year, Maryland has added 20,400 jobs - the strongest January to October growth
on record since 2005.
Nearly 13,000 additional Marylanders were working in October than in September and
3,000 fewer were unemployed. Since October 2010, more than 17,600 additional Marylanders
are employed and more than 3,700 fewer are unemployed.
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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