Unemployment rate drops as residents give up the search for work
Maryland employers cut 7,100 jobs in January, one of the largest drops in the nation, the U.S. Department of Labor said this morning.At the same time, the unemployment rate fell to 7.2 percent from December's 7.4 percent rate — largely because several thousand Maryland residents stopped looking for work and were no longer officially counted as unemployed, not a good sign.
Only Georgia, New Jersey, Florida and South Carolina suffered larger job losses in January, according to the federal government estimates. The numbers, which are adjusted to try to account for seasonal changes in hiring and layoffs, are preliminary and can be revised down the road.
Maryland employers cut 7,100 jobs in January, one of the largest drops in the nation, the U.S. Department of Labor said this morning.
At the same time, the unemployment rate fell to 7.2 percent from December's 7.4 percent rate — largely because several thousand Maryland residents stopped looking for work and were no longer officially counted as unemployed, not a good sign.
Only Georgia, New Jersey, Florida and South Carolina suffered larger job losses in January, according to the federal government estimates. The numbers, which are adjusted to try to account for seasonal changes in hiring and layoffs, are preliminary and can be revised down the road.
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"Maryland employers cut 7,100 jobs in January, one of the largest drops in the nation.."
ReplyDeleteA lot of those jobs left the state for places that are more business-friendly.
If O'Malley keeps woofing about more taxes and regulation, it won't be long till the only jobs left in Maryland are government jobs.
Then whose pocket is he going to reach into?
I am thinking about moving my business to Delaware O'Malley
ReplyDeleteis chasing business away from Maryland