- The most recent jobs report showed that in August 2021, Maryland gained a total of 11,900 Total Nonfarm jobs.
- The official unemployment rate for Maryland decreased to 5.9 percent.
According to the most recent report from the Bureau of Labor Statistics (BLS), Maryland gained a total of 11,900 Total Nonfarm jobs in August. This was a result of a gain of 11,800 Total Private jobs along with an increase of only 100 Total Government positions. As a result of the increase in jobs, Maryland’s unemployment rate decreased to 5.9 percent in August.
In August 2021, both the increases and decreases in individual subsectors were smaller than in July, resulting in a relatively stable month. The largest subsector job gains were seen in Professional, Scientific, and Technical Services, with gain of 3,600 jobs, followed closely by an increase of 3,500 jobs in Transportation, Warehousing, and Utilities. Meanwhile, the largest subsector job losses in August were seen in State Government, with a loss of 2,300 jobs, and Retail Trade with a decrease of 1,300 jobs.
Over the past two months, Maryland has reported a total gain of 31,300 jobs, suggesting a strong summer of recovery. However, it should be noted that these figures (and generally all job figures reported by the media) are seasonally adjusted. This means the numbers have been modified by the BLS to account for seasonal changes due to temporary summer jobs and other factors that do not reflect economic growth. Without this seasonal adjustment, Maryland has added only 1,700 jobs over the summer. While this is a normal process, the low unadjusted figures suggest a potential concern for Maryland’s reported growth as we hit the end of the summer season.
With the pandemic rapidly evolving and new concerns arising every month, we are currently at an uncertain time for Maryland and the United States’ economic recovery. With the situation evolving quickly, stay tuned for more updates on how employment is changing across Maryland, the region, and the country.