Maryland Hits Record Low 1.6% Unemployment as Worker Shortage Gives Employees Leverage
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Maryland has the lowest unemployment rate ever recorded by a U.S. state at just 1.6% in September 2022. This is less than half the national rate.
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A massive loss of working-age people after COVID-19 is a key reason behind the ultra-low rate.
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Government, healthcare, and education are the biggest industries in Maryland. They have added the most jobs recently.
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Labor force participation in Maryland is much lower than before the pandemic, due to factors like retirement and migration.
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With over 180,000 job openings but fewer workers, employees have leverage to find better jobs and wages.