Maryland unemployment rate dips below 4% for first time since pandemic

Maryland’s unemployment rate dipped below 4% last month for the first time since the start of the pandemic as a strong labor market helped quell fears of an impending recession. New figures released by the U.S. Department of Labor on Friday show Maryland’s unemployment rate was at 3.9% in July, a slight drop after holding steady at 4% in May and June. The state’s unemployment rate has now dropped 1.5 percentage points since January but remains above the national rate of 3.5% and higher than Maryland’s pre-pandemic mark of 3.3% in February 2020. Maryland is one of 10 states and D.C. that have unemployment rates higher than the national rate.