On a seasonally adjusted basis, Maryland added 1,500 jobs in October
, a 0.1% monthly rate of growth, while the nation lost 190,000 jobs, says the Maryland Department of Business and Economic Development. Maryland was not the only U.S. state with good job news in October. Twenty-eight states plus D.C. also added jobs. Maryland sectors with the most notable job creation during the month were manufacturing, wholesale trade and local education.
In addition, Maryland added some 1,600 manufacturing and wholesale trade jobs, the highest total recorded for either in at least 10 years. Local governments added 1,700 jobs, mostly in education, while administrative support, a sub-section of professional and business services, added 1,400 jobs.
On the other hand, construction lost 3,400 jobs during the month and retail trade lost 2,900 jobs. The change in these two sectors could be a future concern as recent reduced job losses in these sectors largely explain the state's improved employment picture over the past six months.
Over the past year, Maryland's job loss rate of 2% is half that of the nation and fifth best among states and the District of Columbia. Sectors that added the most jobs over the year included educational and health services with 8,800 jobs added for a 2.3% growth rate, government with 5,300 jobs added or 1.1% growth, and leisure and hospitality services with 2,100 jobs added for a 1% growth rate
.
Sectors that added the most jobs over the year included educational and health services, federal government, and leisure and hospitality services. Sectors that lost jobs included construction with 16.5% fewer jobs, the retail trade sector with 15,200 fewer jobs and the financial activities sector, which lost 11,100 jobs or 7.4% from its year-ago level. Finance and insurance firms accounted for most of the job loss in this sector.
Source: MD Dept of Business and Economic Development
Writer: Walaika Haskins