Statement From Governor Martin O’Malley On PRELIMINARY JUNE JOBS REPORT

Maryland’s Triple A bond rating reaffirmed by all three rating agencies

ANNAPOLIS, MD (July 20, 2012) – Governor Martin O’Malley today released the following statement on the U.S. Department of Labor’s release of preliminary employment data for the month of June:

“In Maryland, we are moving forward. Nearly 25,000 more Marylanders are working than were last June. Twenty-two hundred fewer Marylanders have filed new unemployment insurance claims this June compared to a year ago (following 10 consecutive months of declines over the year). Home sales have reached their highest levels in two years and home sales prices have reached a near three-year high. And Temporary Assistance for Needy Families (TANF) enrollment has fallen by over 5,800 since the beginning of this year.

“With all our economic indicators demonstrating positive trends, we would not be surprised if the Bureau of Labor Statistics once again significantly revises these preliminary numbers. Last month, they not only reported the loss of 1,500 state government jobs we knew not to be true, but also added back 4,600 jobs that their initial report claimed were lost.

“In the last few weeks, the U.S. Chamber of Commerce ranked Maryland #1 for Entrepreneurship and Innovation, our students are leading the way for our #1 ranked public schools with record progress on standardized tests, and all three major credit rating agencies reaffirmed our Triple A bond rating, making Maryland one of only eight states with that distinction. This progress doesn't happen by chance, but by the choices we’re making together to build a strong, growing and resilient economy.”