Saturday, 16 June 2012

Labor Dept.: Md. employers cut 7,500 jobs in May

Maryland shed 7,500 jobs in May in what was one of the largest losses in the country, according to new estimates.

The U.S. Department of Labor said today that only North Carolina and Pennsylvania saw bigger cuts during the month ? 16,500 and 9,900 jobs respectively.

Maryland's unemployment rate increased to 6.8 percent, from 6.7 percent in April. That remains below the nation's rate of 8.2 percent in May.
The figures are preliminary and could be revised. But it was the third month in a row that the federal estimates suggested declines. Maryland lost 5,400 jobs in April, according to new revisions, and 600 jobs in March.

The numbers are adjusted to try to account for seasonal patterns in hiring and layoffs, showing losses if cuts are larger than normal for the time of year ? or if growth is less robust than typical. In the case of the new figures, it's the latter.

The raw numbers show Maryland employers adding 10,000 jobs in May, less than normal for what is generally a big hiring month. If the estimates aren't revised, it will be the smallest May gains since 1976.

Economists have warned, however, that unusually warm weather during the winter shifted hiring patterns earlier and may be complicating efforts to compare apples to apples.

jhopkins@baltsun.com

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