Maryland’s unemployment rate dipped below 4% last month for the first time since the start of the pandemic as a strong labor market helped quell fears of an impending recession.
New figures released by the U.S. Department of Labor on Friday show Maryland’s unemployment rate was at 3.9% in July, a slight drop after holding steady at 4% in May and June. The state’s unemployment rate has now dropped 1.5 percentage points since January but remains above the national rate of 3.5% and higher than Maryland’s pre-pandemic mark of 3.3% in February 2020. Maryland is one of 10 states and D.C. that have unemployment rates higher than the national rate.
Maryland also added 12,000 jobs in July, its strongest showing since adding 14,400 in February.
