ANNAPOLIS, Md. — Maryland lost 3,900 jobs in February, yet still saw its unemployment rate fall to a record low 2.9 percent.
The news comes from preliminary data provided by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS), which often gets revised.
For example, it was initially suggested Maryland closed out December 2022with a loss of 200 jobs. That number later changed to a gain of 4,100 jobs, resulting in a one percent differential in the unemployment rate.
As it stands now, sectors that experienced decreases last month include Leisure and Hospitality, Private Education and Health Services, and Trade, Transportation, and Utilities.
Meanwhile, the Professional and Business Services sector experienced the most growth with an increase of 3,300 jobs.
At 2.9 percent, the state unemployment rate is at its lowest since the BLS began publishing estimates in January 1976.
Maryland finished January at three percent unemployment with a gain of 8,200 jobs.
"We continue to see historic lows in the unemployment rate. This trend underscores the importance of bringing people back into the workforce and ensuring they have the skills they need to thrive in our economy," said Secretary of Labor Portia Wu.
