Saturday, June 16, 2012

Maryland loses 7,500 jobs in May; unemployment up to 6.8%

Maryland's unemployment increased slightly to 6.8 percent in May.?

Maryland shed 7,500 jobs in May, pushing the state?s unemployment rate up to 6.8 percent and marking the third straight month of losses.

For May, Maryland ranked third in the U.S. for the largest over-the-month decrease in employment behind North Carolina and Pennsylvania, according to data released Friday by the U.S. Labor Department?

Construction jobs in the state dropped by 4,600 in May, while manufacturing lost 300 jobs. Professional and business services jobs dipped by 3,100 compared with April and financial jobs dropped by 800.

Trade transportation and utilities, meanwhile, added 1,500 jobs in the state. Education and health services grew by 2,100 jobs.

Maryland?s labor force in May was 3,087,300, down from 3,089,200 in April.

Meanwhile, the U.S. Labor Department revised Maryland?s previous job report in April. The state reported a preliminary loss of 6,000 jobs, but that has since been revised to a loss of 5,400 jobs. April?s unemployment was 6.7 percent.

Despite the losses, Maryland has added 35,600 jobs since May 2011. The state?s unemployment rate of 6.8 percent is better than the national average of 8.2 percent.

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