- The most recent jobs report showed that in March 2023, Maryland gained a total of 8,000 Total Nonfarm jobs.
- The official unemployment rate for Maryland decreased to 2.5 percent.
According to the most recent report from the Bureau of Labor Statistics (BLS), Maryland gained a total of 8,000 Total Nonfarm jobs in April 2023. This was the result of a gain of 2,500 Total Private jobs, combined with a gain of 5,500 Total Government jobs. In addition, the unemployment rate decreased to 2.5 percent in April.
The largest subsector gain for April 2023 occurred in State Government, with an increase of 4,500 jobs. This was followed by Professional, Scientific, and Technical Services, which added 1,800 jobs, and Transportation, Warehousing, and Utilities with an increase of 1,000 positions. There were no notable losses from any specific subsector in April, with no subsector losing more than 600 jobs over the month.
Following the release of April data, Maryland improved to a tie for 11th (with Missouri) among all states in unemployment rate. Maryland continues to have the lowest unemployment rate in the Mid-Atlantic region, with Virginia claiming the next-lowest rate of 3.1 percent. The underlying data for unemployment also remained strong in April, with approximately half of new employment in Maryland going to persons joining the labor force, resulting in an increased labor force participation rate. The other half of new employment went to persons previously considered unemployed, resulting in the lower unemployment rate.
Between continued inflation, increasing interest rates, and the possibility of government default due to the debt limit, Maryland’s immediate economic future remains uncertain. With the situation evolving quickly, stay tuned for more updates on how employment is changing across Maryland, the region, and the country.