- The most recent jobs report showed that between July and August, Maryland employment grew by 4,600 Total Nonfarm jobs, including an increase of 7,900 Total Private jobs and a decrease of 3,300 Government jobs.
- The unemployment rate for Maryland fell to 4.2 percent in August, down slightly from 4.3 percent in July.
- The Federal Reserve Bank of Richmond, which covers the Fifth District (including the state of Maryland), reported that employers are having persistent issues finding qualified workers amidst a tight labor market. However, wage increases were noted to be limited in the district.
On the supersector level, Leisure and Hospitality and Professional and Business Services each posted increases of 2,400 jobs (a combined increase of 4,800 positions), the greatest gains of any supersector between July and August. The Trade, Transportation, and Utilities supersector also had a significant employment increase of 2,100 jobs, followed by the Education and Health Services supersector with a 1,900 position increase. The greatest losses were in the Government supersector, which declined by 3,300 positions, and the Financial Activities supersector, which decreased by 1,300 jobs. Subsector-level gains were greatest in Accommodation and Food Services which added 2,900 positions, followed by Professional, Scientific, and Technical Services which added 1,500 positions. The Administration and Support and Waste Management and Remediation Services subsector also posted gains of 1,300 jobs. The Local Government subsector had the greatest drop of 2,500 positions.
Neighboring states in the Mid-Atlantic region (Virginia, Pennsylvania, Delaware, and Washington, D.C.) added a net of 0 Total Nonfarm jobs, including a gain of 800 Total Private jobs and loss of 800 Government jobs. Neighboring states’ largest gains on the supersector level were in Trade, Transportation, and Utilities (increasing by 4,300 positions), while the Education and Health Services supersector added 3,300 jobs. The greatest losses were in the Other Services supersector, which declined by 3,600 jobs. Other declines were seen in the Information supersector (-1,500 positions), the Leisure and Hospitality supersector (-1,400 jobs), and the Financial Activities supersector (-1,300 positions). The unemployment rate for neighboring states fell to 3.7 percent, down from 3.8 percent in July.
The Federal Reserve Bank of Richmond, which covers the Fifth District (including the state of Maryland), reported that employers are having persistent issues finding qualified workers amidst a tight labor market. Despite increased pressure on employers to fill open positions, overall, wage increases were reported to be limited. Demand for trucking remained strong, with some companies reporting that they had to decline business due to a shortage of trucks and/or drivers. In Maryland, the Transportation and Utilities subsector increased total positions, adding 700 jobs between July and August. Port stakeholders in the district also had some concerns that trucking shortages and tariffs may negatively impact business, and these impacts may be delayed due to pre-planned shipment schedules. Some manufacturing firms in the Fifth District also reported negative impacts from the recently-implemented tariffs, resulting from higher input prices that they are unable to pass onto consumers. One Maryland can manufacturer expressed concern that increased prices would prompt their customers to seek alternative packing methods. Other manufacturing firms were not experiencing these negative effects and indicated a positive business outlook. As reflected in the positive gains in the Leisure and Hospitality supersector, the Federal Reserve Bank of Richmond reported strong tourism activity in the region.
Mid-Atlantic Regional Employment Workbook
To make more sense of what’s happening with Maryland’s employment numbers, we’ve embedded our new tool: the Mid-Atlantic Regional Employment Workbook. This dashboard allows you to examine 29 different industries and see how employment is varying in Maryland as well as four other states in the Mid-Atlantic region. To use the dashboard select a sector of the economy that interests you from the dropdown at the top. When you change the sector of interest, the map and five line graphs will update to reflect historical data for that industry. Want to know how employment changed in the sector last month? Hover over each state in the map for percentage changes. Or hover over the line graphs to get more detailed information on the number of employees each month since January 2016 by state.
About the Authors
Daraius Irani, Ph.D.
Daraius Irani, Ph.D. serves as vice president of Strategic Partnerships and Applied Research. He fosters the development of partnerships between business, government, and education that contributes to the economic vitality of our region. He also serves as chief economist at the Regional Economic Studies Institute and is often called on by state agencies, private companies, and local governments to provide insight on proposed policies, development, and economic forecasting. Read Daraius’s Posts
Katie Menking serves as economist at the Regional Economic Studies Institute. She has numerous roles, including primary and secondary data collection and analysis, methodology design, and report writing and editing. Katie is a primary author of Eye on the Economy, RESI’s monthly analysis of unemployment data. Read Katie’s Posts