National employment indicators continue to show signs that the economy is steadily, if slowly, improving, and recently released figures show that Maryland appears to be keeping pace. According to Friday’s article in the Baltimore Sun, Maryland added 10,500 jobs in February. Accompanying this are two additional pieces of good news: the unemployment rate decreased slightly, from 6.7% in January to 6.6% in February, and a revised estimate by the Department of Labor shows that the state added 7,500 jobs in January, an improvement over the initial estimate of 6,700 for the month.
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Seven business sectors reported employment gains during February, according to an article in Friday’s Baltimore Business Journal, with the following sectors experiencing the greatest growth:
· Professional & business services sector – 1,900 jobs added
· Financial sector – 1,000 jobs
· Education, healthcare & social assistance sector – 900 jobs
· Natural resources, mining & construction sector – 700 jobs
· Manufacturing sector – 400 jobs
As the Business Journal article states, the numbers represent the best February for job growth in more than a decade. Also, at 6.6%, Maryland’s unemployment rate remained lower than the nation’s overall rate of 7.7%.
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