County’s Unemployment Rate Drops to Lowest Level in Five Years
Montgomery County Executive Isiah Leggett today announced this week, according to a report from the Maryland Department of Labor, Licensing and Regulation, the County’s unemployment rate dipped to 4.1 percent in December 2013 — the lowest level since 2008 and a nearly 30 percent decrease since its high in 2010.
“Despite the great recession, Montgomery County remained robust – and the latest unemployment numbers reflect that,” said Montgomery County Executive Isiah Leggett. “By putting our fiscal house in order and investing in the jobs of the future, we are coming out of the worst of the economic crisis stronger than ever. The proof is in our low unemployment rate of 4.1 percent, one of the lowest in the nation. Since 2011, Montgomery County has added more than 18,000 jobs, a three percent increase.”
“This good news demonstrates the vitality of our local business community and economy,” said Montgomery County Department of Economic Development Director Steve Silverman. “While many factors determine monthly unemployment figures, declining unemployment rates are a clear economic indicator that Montgomery County’s economy is on the right track.”