18 August 2023- The US Department of Labor’s Bureau of Labor Statistics released their latest jobs report today, indicating continued job growth in all areas of the economy. As a result, both Pennsylvania and Maryland continue to have new record setting lows in unemployment claims.
According to the preliminary survey data, Maryland gained 2,000 jobs in July, and the unemployment rate decreased 0.2 points to 1.8%. This is the sixth consecutive month of record-setting low unemployment for Maryland.
Sectors that created the most jobs in Maryland include; Leisure and Hospitality (600); Public sector (600); Mining, Logging, and Construction (400); and Information (100).
Sectors that experienced a decline include: Professional and Business Services (1,200); Financial Activities (300); Private Education and Health Services (300); Manufacturing (200); and Trade, Transportation, and Utilities (200).
Pennsylvania’s unemployment rate declined three-tenths of a percentage point over the month to 3.5% in July, the lowest rate on record (back to January 1976). The U.S. unemployment rate was also at 3.5%, down one-tenth of a percentage point from June. The Commonwealth’s unemployment rate was 0.8 percentage points below its July 2022 level of 4.3%, and the national rate was unchanged over the year.
Pennsylvania’s civilian labor force – the estimated number of residents working or looking for work – was down 9,000 over the month. Resident employment rose by 6,000 over the month and unemployment fell by 15,000.
Pennsylvania’s total nonfarm jobs were up 14,400 over the month to a new record high of 6,149,000 in July. This was the seventh month in a row that jobs have set a new all-time high level. Jobs increased from June in eight of the 11 industry supersectors with the largest gain in education & health services (+6,700), which rose to a record high level. Professional & business services also rose to a record high.
Over the year, total nonfarm jobs were up 143,100 with gains in all 11 supersectors. Education & health services (+45,200) had the largest volume over-the-year gain among supersectors.