Maryland Job Report
Last week the Bureau of Labor Statistics (BLS) released the job report for the month of March. In March, Maryland saw the lowest unemployment rate since the beginning of Covid-19 in 2020.
In March, Maryland added 3,900 jobs to the market. The Leisure and Hospitality sector experienced the most growth with an increase of 2,900 jobs. This number is much lower than jobs added in February (16,700). While there were not as many jobs added to the state, the unemployment rate is now at an all time low since early 2020,
March brought the lowest unemployment rate Maryland has seen in 2 years, coming in at 4.5%. That is a .5% decrease since February of 2022. The current rate of unemployment decline is great news for the state. Experts at the BLS are forecasting another decline in the unemployment rate for April as well, estimating it to be around 4.3%.
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