MoCo Unemployment Rate Lowest in Seven Years
The Maryland Department of Labor, Licensing, and Regulation and the U. S. Bureau of Labor Statistics have reported that Montgomery County's unemployment rate in April 2015 was 3.7 percent, marking the first time it has been below 4 percent since December 2008, when it was 3.0 percent. The last time the rate was at 3.7 percent was in October and November 2008.
County Executive Ike Leggett welcomed the news; but, acknowledged there is room to grow. “While the County is doing a good job given the worst economic conditions in decades, we can do better. We must do better,” said Leggett. “We must be more attuned to business trends and needs. We must be more flexible in our approach. We must improve our workforce development programs.”
The statewide unemployment rate for Maryland was 5.3 percent, or about 166,466 people out of work, according to the Maryland DLLR. Montgomery and Howard Counties tied for the lowest unemployment rates in Maryland at 3.7 percent. According to the Maryland DLLR, there were 20,105 people unemployed in Montgomery County, out of a labor force of 543,675.
In comparison, Worchester County on the Eastern Shore of Maryland, which has the highest unemployment rate at 10.1, with 2,544 unemployed out of a labor force of 25,130.
As mentioned, Howard County has the same unemployment rate as Montgomery County at 3.7 percent, with 6,452 unemployed of a work force of 135,547 people. Montgomery County’s other neighbors are also lagging just a bit, Prince George’s County has an April 2015 unemployment rate of 4.8 percent, with 23,336 unemployed, of a workforce of 460,616. Frederick County’s employment rate is at 4.3 percent, with 5,496 unemployed, of a workforce of 128,488 people, according the Maryland DLLR.
Chart: The Maryland Department of Labor, Licensing, and Regulation and the U. S. Bureau of Labor Statistics