Delegate Kathleen Dumais

Democrat, Maryland House of Delegates District 15

Fourth Month for Job Gains

From the office of Speaker Mike Busch, July 20, 2010

Today, the Bureau of Labor Statistics released the jobs numbers for June. Maryland posted jobs gains for the fourth straight month in a row – creating 1,600 new jobs. The State has gained over 40,000 jobs since January, the most net jobs growth since 1996 from January to June. Twenty-seven states recorded job losses.

Based on the June 30 projections for the budget closeout, the State will have an additional $200M surplus for last fiscal year, on top of the nearly $830M left by the legislature, totaling $1 billion in cash reserves. This demonstrates sound fiscal management – particularly since the total FY11 budget spends 2% less than FY10. Overall, the General Fund budget has decreased by 3% over the past four years.

Maryland’s unemployment rate fell again – to 7.1% in June 2010. This is about 25 percent below the national average. DLLR reports that some sectors are seeing “consistent improvement” – construction and leisure/hospitality industries.

Comments are closed.

-->