Ty Wright/BLOOMBERG - Manufacturing payrolls dropped in both Maryland and Virginia in August, according to new BLS data.
Unemployment levels rose in Maryland, fell in the District and held steady in Virginia in August, according to a Labor Department report released Friday, reflecting the uneven economic recovery seen across the country.
The District’s jobless rate dropped to 8.8 from 8.9 percent in July, while Maryland’s increased to 7.1 from 7.0 percent the month before. Virginia’s unemployment rate remained unchanged at 5.9 percent.
(The Washington Post/Source: Bureau of Labor Statistics) - Local unemployment rate goes down.
More business news
A well-known firm that advises big shareholders on how to vote in elections for company directors is settling charges of failing to protect clients’ confidential voting information.
There seems to be a new breed of entrepreneurs whose greatest skill is playing a political game similar to the corporate stooge.
Obama’s Commerce Secretary pick Penny Pritzker is facing scrutiny for her ties to a subprime mortgage lender that failed in 2001.
However, the District actually suffered the largest percentage decrease in total nonfarm employment of any jurisdiction in the country, down 1.5 percent, suggesting that a growing trend across the nation of more job seekers suspending their search is playing out in the nation’s capital.
Conversely, total payrolls in Maryland increased by 20,000 last month.
The unemployment rate is down year-over-year in each of the three jurisdictions. It fell the most in the District — 1.7 points from 10.5 percent in August 2011. Overall, the number of active job seekers in the region increased only slightly from July’s 501,800 to 503,900 in August.
Construction and manufacturing both fell only slightly in Maryland but took a major hit in Virginia, where construction firms trimmed their payrolls by a collective 2,600 workers and manufacturing firms lost 2,100 jobs. Professional and business services companies, representing one of the other largest sectors in the region, shed roughly 2,000 jobs in both the District and Virginia but added 1,200 in Maryland.
The U.S. jobless rate dropped to 8.1 percent from 8.3 percent in July. During that period, the unemployment rate increased in 26 states, while falling in a dozen (plus the District) and staying flat in the remaining dozen states.
Market Foolery Featured Podcasts
Federal Reserve Chairman Ben Bernanke tells Congress that it's too soon for the Fed to end its stimulus program. JPMorgan Chase Chairman and CEO Jaime Dimon gets a vote of confidence from shareholders. And ESPN deals with the rising cost of sports programming.
Home Depot hits a new high on better-than-expected earnings news. Best Buy slips. And HHGregg plummets. Our analysts discuss those stories and debate the future of solar stocks.
Yahoo buys Tumblr for $1.1B. Campbell’s Soup reports strong 3rd-quarter earnings. And JC Penney gets two very different price targets from competing Wall Street analysts.
Loading...
Comments