Maryland gains 5,600 jobs in June, increases labor force participation rate – Tri-State Alert

22 July 2024- Maryland added 5,600 total jobs in June, including 3,900 in the private sector, according to monthly data released today by the U.S. Department of Labor’s Bureau of Labor Statistics. The growth rate last month (0.2 percent) was double the national rate (0.1 percent). The new data also included an upward revision of the state’s May employment numbers, increasing last month’s growth by 700 jobs to a total of 7,100 jobs. Through the first half of 2024, Maryland has added 27,800 total jobs and grown faster than any other state in the country.

Furthermore, Maryland’s labor force grew by 6,400 workers in June, which meant the labor force participation rate also increased by 0.1 to 65.4 percent. The upward trend is encouraging and indicates more Maryland residents are eager to find jobs in the state’s economy. In fact, Maryland exceeded the national labor force participation rate, which is 62.6 percent.

The growing number of Marylanders entering or reentering the job market impacted the state’s unemployment rate, which ticked up slightly by 0.1 percentage points in June, from 2.7 to 2.8 percent.

The June report incorporates jobs data that captures a little more than three months of statewide employment trends since the collapse of the Francis Scott Key Bridge. The Transportation, Warehousing, and Utilities sector, which covers a vast majority of the jobs at the Port of Baltimore, has lost 1,800 jobs since March. However, these losses may not all be due to impacts of reduced Port operations.

In June, the top five sectors that contributed to Maryland’s job growth were: Government (1,700 jobs), Professional, Scientific, and Technical Services (1,100 jobs), Construction (800 jobs), Retail Trade (800 jobs), and Wholesale Trade (600 jobs).

Only three sectors lost jobs last month: Accommodation and Food Services (-1,400 jobs), Private Educational Services (-200 jobs), and Information (-100 jobs).