Maryland Employment Situation - February 2010


Alexander M. Sanchez, Secretary of Labor, Licensing and Regulation, announced that Maryland's seasonally adjusted unemployment rate inched up to 7.7 percent in February from 7.5 percent in January. Nationally, the unemployment rate held steady at 9.7 percent.

"While there continue to be signs of improvement in the economy, we are still seeing significant pressure on the job market. Both the unemployment rate and job creation statistics may continue to move erratically as the economy strives to move ahead," Secretary Sanchez said.

"The Job Creation & Recovery Tax Credit signed by Governor O'Malley yesterday gives employers a tax credit of $5,000 for each employee they hire into a new full-time job off the unemployment insurance rolls. This should give employers, particularly small businesses, a little extra incentive to make hiring decisions and reduce the ranks of the unemployed over the remainder of 2010."

According to Maryland's monthly business survey, the number of jobs on industry payrolls, following seasonal adjustment, declined by nearly 14,000 during February. Seven of the state's 10 business sectors reduced employment levels over-the-month. Job reductions were largest in construction and trade/transportation/warehousing and utilities.

Maryland Employment Situation