Maryland’s jobless rate rose in March to 3.6 percent, according to the Department of Labor, Licensing and Regulation. This figure is only up .1 percent from March of 2007 and .2 percent higher than the unemployment rate of February of this year.
Despite increasing slightly, Maryland has the 10th lowest unemployment rate in the nation and remains well under the national jobless rate average of 5.1 percent. Three of the state’s counties, Howard, Calvert and Montgomery, all had unemployment rates under 3 percent.
Thomas E. Perez, department secretary, said in a recent news release that “the housing crisis and rising gas prices are fueling difficult economic conditions nationwide, and clearly Maryland has seen the impact of the downturn.” He went on to say that, despite minor problems, officials remain “cautiously optimistic”. He also said that they believe that Maryland’s diverse economy will help the state keep a relatively stable jobs market. Although unemployment statewide rose, 3,600 new Maryland jobs were created in March.
One area of employment that will most likely not be creating many jobs in Maryland in the near future is the government sector. Due to a large budget deficit, state officials are in the process of trying to reduce spending by $50 million. State budget secretary, Eloise Foster, says that one way they hope to do is by limiting hiring for government jobs in Maryland. Officials say that this strategy will be continued into June at the very least.
Maryland is among 26 others that have severe budget shortfalls, 10 of which have already announced that they will be curbing hiring for the time being. This news comes directly after mass hiring by government agencies at every level.
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