Maryland Job Update
Maryland gained 14,900 jobs and the unemployment rate decreased to 5.7% in October. This is the lowest unemployment rate since the beginning of COVID-19. The unemployment rate has been falling at a small rate since June, 2021.
According to the U.S. Department of Labor’s Bureau of Labor Statistics, October was the strongest month for job growth this year for the private sector, and was the second strongest month for jobs growth in Maryland since the beginning of 2021. All private sectors experienced job growth in October, for the first time since September 2020. More than 75% of jobs lost at the beginning of the pandemic have now been recovered (73% in September, 77% in October). Since the beginning of 2021, Maryland has gained a total of 84,000 jobs.
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