Unemployment Below 4% For First Time Since 2008

For the first time since 2008, Maryland’s unemployment rate fell below 4 percent in August – just below, to 3.9 percent. The state gained 14,200 jobs, with the private-sector adding 9,700 jobs. August is the fifth month this year to post over-the-month job gains.

The national average unemployment rate is 4.4 percent, placing Maryland ahead of the curve.

Governor Larry Hogan stated:

From day one, a top priority of our administration has been growing our private sector and creating more jobs and we have made incredible progress. In just two and a half years, Maryland has added more than 10 times more private sector jobs than were added in the previous 8 years, and the unemployment rate is at the lowest it has been in nearly a decade. We pledged to put our state on a new path and turn around our economy, and we are doing exactly that.

Maryland Labor Secretary Kelly M. Schulz said:

August’s job gains are the second-highest in the past seven years. Our regulatory reform and workforce development programs are creating opportunities for both business owners and job seekers, and the numbers reflect that. The Department of Labor is proud to do its part to ensure our citizens have jobs.

Government jobs increased by 4,500 positions. Leisure and hospitality suffered the largest decrease, losing 1,100 jobs.

Useful Links

State’s press release

Baltimore Business Journal coverage

Bureau of Labor Statistics (BLS)