Many Still Seeking Maryland Jobs
Posted on October 9, 2008
Many people are still looking for Maryland jobs.
In August, Maryland had an unemployment rate of 4.5 percent, up from 4.3 percent in July. Currently, more than 135,000 Maryland residents are looking for jobs they can’t find, 30 percent more than this time last year. This news comes despite the fact that Maryland employers are adding jobs. The state added 1,800 jobs during August, mostly from the private sector, according to an article by the Baltimore Sun.
Many industries are losing jobs as the housing market continues to plummet and credit crunch worsens. While Baltimore-based Constellation Energy Group recently had to sell itself, some businesses are continuing to thrive.
“We are absolutely booming with activity in health care,” Steve Braun, chief executive of MRI Sales Consultants of Baltimore City, which helps companies find sales and marketing staff, said in the article. “Biotech is huge. The good news is, we are able to find pockets of business that are really moving on, full speed ahead.”
Nearly every nine out of 10 states saw their unemployment rates rise in August, while most also gained jobs rather than lost them.
“Unemployment rates can worsen even as jobs increase if – for instance – employers aren’t creating positions fast enough to keep up with the number of people looking for work,” the article notes. “The figures come from separate surveys: one of residents, one of employers.
“Overall, Maryland’s jobs picture looks healthier than the nation’s,” the article continues. “The U.S. unemployment rate hit 6.1 percent last month, and employers have cut more than 600,000 jobs since the beginning of the year.