Baltimore Area Unemployment Improves: Feds – Baltimore, Maryland

Baltimore, Maryland 2021-06-12 23:52:31 –

Baltimore, Maryland — The latest national unemployment and employment figures represent a labor market approaching normal, but the country still has a record number of jobs.

According to the Federal Bureau of Labor Statistics, the unemployment rate in the Baltimore region has improved slightly since the outbreak of the pandemic, with some improvement from March to April.

Baltimore’s April unemployment rate was 7.6%, down from 8% in March. This reflects the improvement from April 2020, when the unemployment rate was 10.4%.

Baltimore’s April unemployment rate is higher than Maryland’s 5.8%, according to the latest BLS local statistics.

The United States added 559,000 non-farm payrolls in May, lowering the unemployment rate by 0.3 points to 5.8%.

According to BLS, the first weekly unemployment claims in late May fell to the lowest level since March 14, 2020. The initial seasonally adjusted bill was approximately 385,000, a decrease of 20,000 from the previous week. It also recorded a decline for the fifth straight week.

The country has not fully recovered from the pandemic. Salary employment is down 5% from pre-pandemic levels. The number of long-term unemployed fell by 431,000 in May to 3.8 million, but is still up from 2.6 million in February 2020.

The labor force participation rate is 61.6%, which has been almost constant since June 2020, which is about 1.7 percentage points lower than in February 2020.

Job vacancies are still plentiful, with a record 8.1 million job vacancies nationwide at the end of March. It leads the food service industry and accommodation, local and government education and arts, entertainment and recreation. According to BLS, the number of layoffs reached a record low of 1.5 million.

Baltimore Area Unemployment Improves: Feds Source link Baltimore Area Unemployment Improves: Feds

Back to top button