- The most recent jobs report showed that in September 2023, Maryland gained a total of 11,200 Total Nonfarm jobs.
- The official unemployment rate for Maryland decreased to 1.6 percent.
According to the most recent report from the Bureau of Labor Statistics (BLS), Maryland gained a total of 11,200 Total Nonfarm jobs in September 2023. This was the result of a gain of 9,200 Total Private jobs, combined with a gain of 2,000 Total Government jobs. In addition, the unemployment rate decreased to 1.6 percent in September.
The largest gain in September 2023 was in the Health Care and Social Assistance subsector, which added 3,800 jobs over the month. This was followed by Wholesale Trade, which increased by 1,700 total positions, and Professional, Scientific, and Technical Services, which gained 1,300 jobs. Overall, nearly every subsector saw at least a small increase in jobs in September, with only two exceptions. Of the two exceptions, Transportation, Warehousing, and Utilities had the largest decline, shedding 1,700 jobs over the month.
Following the release of the latest data, Maryland continues to have the lowest unemployment rate among all states, with no other state having an unemployment rate below 1.9 percent. This a significant difference from Maryland’s unemployment rate of 1.6 percent, as the closest states from a month prior saw their unemployment rates increase or hold steady in September. Overall, only four states across the country reported a decrease in the unemployment rate for September, including Maryland. With unemployment at a historic low, employers will likely continue to struggle to fill open positions into the near future.
Between continued inflation and increasing interest rates, Maryland’s immediate economic future remains uncertain despite positive jobs data. With the situation evolving quickly, stay tuned for more updates on how employment is changing across Maryland, the region, and the country.