Unemployment Down, But So Are Total Jobs

Maryland lost 1,600 jobs in May, but even so, the state’s unemployment rate has still fallen to below the national average. Unemployment fell from 4.3 percent in April to 4.2 percent. The U.S. unemployment rate was 4.3 percent in May. Maryland added 43,100 jobs over the last year.

From the Baltimore Business Journal

The overall decrease was driven by a loss of 1,300 private sector jobs and 300 government jobs, according to preliminary data released Friday by the U.S. Department of Labor. …

The construction sector gained 4,800 jobs over the month, the most of any sector. A month after posting the biggest decline with 900 jobs, the trade, transportation and utilities sector rebounded by gaining 1,600 positions. The professional and business services sector gained 400 jobs.

On the flip side, education and health services saw the biggest decrease in May, losing 2,900 jobs. The leisure and hospitality sector lost 2,200 jobs and the financial services sector decreased by 1,700 positions. The manufacturing sector lost 1,500 jobs, a month after it gained 200.

Florida saw the greatest gains in jobs this past month with 29,600 jobs. New Jersey saw the greatest loss, with a decrease of 13,100 jobs.