People continue to face unemployment worldwide due to limited work opportunities. Different states across the United States have varying employment rates, and if you are in Maryland, below are its statistics.
The unemployment rate in Maryland as of May 2022 is 4 percent, which was a slight drop from 4.2 the previous year. It shows that different industries created more job opportunities this year.
The unemployment rate is the best-recognized labor market measure used widely across media. The measure denotes how labor supply has been underutilized and shows the inability of a country to create employment for citizens capable of working. Different economies have different unemployment rates, and below is the unemployment rate of Maryland.
Maryland Unemployment Rate
The unemployment rate in Maryland stands at 4 percent as of May 2020. The figures dropped slightly from 4.2 percent the previous year; thus, there is a slight improvement by the state in terms of providing more jobs. The US Department of Labor’s Bureau of Labor Statistics (BLS) indicated that Maryland recorded the lowest unemployment rates in the US since the Covid-19 pandemic began. The nation’s unemployment rate is 3.6 percent which means the state’s rate is still a bit higher compared to other states.
Maryland has regained approximately 334,200 new jobs in both public and private sectors compared with May 2021. Jobs in the states are up by 78,500 this year, an over-the-year-change of 3 percent.
The Hospitality and Leisure industry registered the highest job growth at 4500, which came from Food Service and Accommodation (4400), and Recreation, Arts, and Entertainment sub-sectors.
Other sectors registered a significant increase in jobs, such as Education and Health Services (1200), Mining, Logging, and Construction (1400), Financial Activities (1000), and Professional and Business Services (300).
However, some sectors registered a drop, including Trade, Transportation, and Utilities (200) and Other Services (1000).
A total of 3,075,564 civilian workers in Maryland are employed, while 127,512 are unemployed; thus, many people currently have jobs.
According to maryland.gov the unemployment rate across different counties in Maryland are as follows:
|Annual Unemployment Rates|
|Anne Arundel County||5.8%||4.7%|
|Prince George’s county||8.0%||7.5%|
|Queen’s Anne’s County||5.4%||4.4%|
|St. Mary’s County||4.8%||4.5%|
As seen from the above statistics, the unemployment rate in all the Counties in Maryland have shown a significant decrease since 2020 to now.
Maryland is doing great since the unemployment rate has decreased significantly in 2022. However, the nation’s unemployment rate stands at 3.6 percent, and Maryland should strive to reach this level or lower by creating more job opportunities and ensuring more people who want to work are doing so.
Is the unemployment rate in Maryland high?
Maryland’s unemployment rate is currently 4 percent compared to the nation’s 3.6 percent rate; thus, it is not high.
Leave a comment