The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. RESI on the Economy is your source for the latest data and analysis of Maryland’s economy and employment numbers.
A Blast of Cold Air
The winter weather Maryland experienced this weekend was preceded by the most recent release of employment numbers for the state by the Bureau of Labor Statistics. Although total employment in the state rose by 100 jobs between October and November and the unemployment rate remained steady at 4.2 percent, private nonfarm employment decreased by 1,800 jobs. The loss of jobs in the private sector was balanced out by an increase of 1,900 jobs in Government over the past month. Despite the job losses in the private sector, private-sector employment has increased by 30,200 jobs from November 2015, a 1.1 percent increase.
The decrease in private-sector employment was primarily caused by a decrease of 3,100 jobs in the Trade, Transportation, and Utilities supersector. This is primarily due to a decrease of 2,800 Retail Trade jobs over the past month. Despite this decrease, Retail Trade employment is still 2,200 jobs greater than its November 2015 level. In fact, despite the decline over the past month, only three supersectors have lost jobs over the past year: Trade, Transportation, and Utilities; Mining, Logging, and Construction; and Financial Activities.
The largest increase in employment in November was in the Leisure and Hospitality sector, which added 2,200 jobs. Leisure and Hospitality has been a strong industry in Maryland, employing 5,300 more people in November 2016 than November 2015. Manufacturing also increased employment last month, growing by 1,100 jobs in November. Manufacturing has been growing in Maryland, adding 1,600 jobs since November 2015, a 1.5 percent increase.
For a closer look at the job numbers released this week, please take a look at the table below, reported at the supersector level.