Maryland Unemployment Rate
The unemployment rate is determined by comparing the total number of individuals in the work force to the amount of people who are unemployed but available for work. The jobless rate uses a mathematical equation to figure out a percentage on state and nation levels. The jobless rate does not necessarily capture all residents, as children, homemakers and retirees, for example, are not looking or able to work. Many different factors contribute to the unemployment rate in each state, including overall job growth, job loss or workers who have left the labor force. Authorities use these figures to determine budgets for programs such as unemployment insurance for those between jobs.
What is the unemployment rate in Maryland?
Individuals in Maryland who still struggle with unemployment can seek financial assistance in the form of unemployment benefits. Each state offers unemployment benefits in the form of financial assistance for qualified applicants. Eligibility requirements vary on a state level, so make sure to understand the eligibility prior to applying for benefits.