- The most recent jobs report showed that in July 2022, Maryland gained a total of 12,000 Total Nonfarm jobs.
- The official unemployment rate for Maryland decreased to 3.9 percent.
According to the most recent report from the Bureau of Labor Statistics (BLS), Maryland gained a total of 12,000Total Nonfarm jobs in July 2022. This was the result of an increase of 6,300 Total Private jobs and an increase of 5,700 Total Government positions. In addition, the unemployment rate fell to 3.9 percent in July.
Between June and July, the largest subsector gain was seen in Local Government, with an increase of 3,900 jobs. This was followed by a gain of 3,400 jobs in Administrative and Support and Waste Management and Remediation Services and a gain of 3,000 jobs in Federal Government.The most significant losses over the month were seen in State Government, which decreased by 1,200 jobs, and Transportation, Warehousing, and Utilities, which dropped by 1,000 jobs over the month.
Nationally, Maryland ranked 23rd in percentage job growth and 38th in unemployment rate. Regionally, Maryland had the second lowest unemployment rate, above Virginia’s 2.7 percent, but lower than Pennsylvania’s 4.3 percent unemployment, Delaware’s 4.4 percent unemployment, and Washington, DC’s 5.2 percent. In terms of percent job growth, Maryland and Delaware were tied for third place at 0.4 percent job growth, while Pennsylvania and Virginia both had 0.5 percent job growth, and DC had 0.3 percent job growth.
Between issues with the supply chain, continued inflation, poor overall growth, and the ongoing effects of both the COVID-19 pandemic and war in Ukraine, Maryland’s immediate economic future remains uncertain. However, the passage of the CHIPS Act and the Inflation Reduction Act may help to spur positive changes. With the situation evolving quickly, stay tuned for more updates on how employment is changing across Maryland, the region, and the country.