Maryland Job Report
Another positive month for Maryland as jobs were added and the unemployment rate is still decreasing.
Jobs Added
Maryland gained 8,400 jobs in the month of November. That is 5,600 less jobs added compared to October. It is still a positive addition to the state, but Maryland is hoping to see a drastic increase in jobs in the coming months. Many people are returning to work because they are running out of savings and the government-funded financial support programs. However, there are two big concerns and they are finding reliable workers, and the Omicron COVID variant. Finding reliable workers is a struggle for many reasons. People simply do not want to work anymore. Employees are becoming greedy with their work from home habits and are putting their personal needs and wants before their professional career. A big part of this issue revolves around Gen-z and Millennials. They are running to social media to announce their decision to quit jobs, travel the world, and “live a fairytale lifestyle” that is ultimately unrealistic and detrimental to employers in today’s candidate market. With the holidays in December and the New Year right around the corner, it will be interesting to see next month’s job report!
Unemployment Rate
Maryland’s unemployment rate decreased from 5.7 to 5.4. This is a great steady unemployment decline that has been going on for over 5 months. The unemployment rate is at its lowest level since the beginning of the COVID pandemic more than 21 months ago. With the new Omicron variant becoming a bigger threat than the Delta variant, it will be interesting to see how it affects Maryland’s workforce and the unemployment rate next month.
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