Despite the BLS reporting that Maryland lost jobs in May, other sectors are growing, as trade and transportation jobs in Maryland reported an increase of 1,500 jobs.
Education/Health Services, and Professional and Business Services also posted growth.
Last month the state didn’t fare so well. About 7,500 jobs were lost in May, after 35,600 net new jobs were created over the past 12 months.
Although there have been setbacks, for 24 straight months, monthly job growth has been higher than the previous year’s.
In fact, Maryland’s unemployment rate rose modestly from 6.7 to 6.8 percent, but continues to be among the lowest in the country and nearly 20 percent below the national rate, the BLS reports.
“Though May was not the month we had hoped for, declines between these months are not atypical. We saw it happen last year and in years before, and we’ve always recovered over-the-year. So far this year, the number of jobs is higher than a year ago, with private-sector employers adding 34,900 jobs to their payrolls,” said Interim Maryland Labor Secretary Scott R. Jensen. “Earlier this week, the U.S. Chamber of Commerce issued their Enterprising States 2012 report, and Maryland leads the nation in entrepreneurship and innovation - a positive sign that Maryland will recover. We continue to remain focused on moving forward and recovering the jobs lost during the national recession.”
Eight out of ten industries are showing growth, which is a good sign. Education/Health Services also advanced by 2,100 jobs over the month. Professional and Business Services, remains one of the top growth industries over-the-year, adding 11,200 Maryland jobs.a86