Maryland lost 10.5k jobs in October, raising unemployment rate to 4.5%

Economy Jobs Report
Posted at 11:25 AM, Nov 18, 2022
and last updated 2022-11-18 11:25:59-05

ANNAPOLIS, Md. — Maryland lost 10,500 jobs in October, according to preliminary data from the U.S. Department of Labor’s Bureau of Labor Statistics.

As result the state's unemployment rate rose half-a-point to 4.5 percent.

That's still 1.2 percent lower than October 2021.

The Trade, Transportation, and Utilities sector suffered the highest number of job losses (3,300), followed by the Professional and Business Services sector (1,900).

Construction (800), Education and Health Services (300), and the Information sectors (300), also experienced losses.

Some areas of the workforce did grow, including the Financial Activities (1,600), Leisure and Hospitality (800), and Manufacturing (600) sectors.

October follows a positive September report that saw 5,200 jobs added.

Since the beginning of 2022, Maryland has gained 48,700 jobs.