MD unemployment rate drops
Maryland’s unemployment rate fell to 6.4 percent (PDF) in November, according to data released today by the Bureau of Labor Statistics, after stalling at 6.7 percent for the previous two months. This is the lowest unemployment rate Maryland has seen in almost five years.
The state unemployment rate fell in November because the number of employed Marylanders rose by just over 8,800 workers. The number of jobs in Maryland (these are two different measures-some jobs may be held by nonresidents, while some Marylanders may work outside the state) also went up, by roughly the same amount.
While this is welcome news, Maryland’s economy still has a long way to go as it slowly recovers from the Great Recession. And the slow recovery is likely to continue: the Board of Revenue Estimates projected recently that job growth will continue to be sluggish in 2014 (PDF), at just 1.5 percent.
Maryland lawmakers will have the opportunity to take action in 2014 on a number of issues that could help working families, whether it’s promoting job creation directly, providing supports to help while workers are between jobs, or investing in the things that make our state great (like our natural environment, our schools and hospitals, or the infrastructure that connects us. We’ll be watching to see what they do.
