- The most recent jobs report showed that between April and May, Maryland lost 3,200 Total Private jobs while gaining 2,000 Government jobs, resulting in an overall loss of 1,200 Total Nonfarm positions.
- Within the private sector, Maryland’s largest loss of employment was in the Trade, Transportation, and Utilities sector, which lost 1,600 jobs. This was followed by the Mining, Logging, and Construction sector, which dropped by 1,400 jobs.
- The unemployment rate for Maryland was 3.8 percent in May, which was unchanged from April.
According to the most recent jobs report from the Bureau of Labor Statistics (BLS), Maryland lost 1,200 Total Nonfarm positions between April and May. Following downward revisions to the previous month’s report, this means that Maryland has not added any new overall jobs to the economy for two months in a row. The loss between April and May was a result of a 3,200 position decrease among Total Private jobs, partially offset by a gain of 2,000 Government positions. Maryland’s unemployment rate in May was 3.8 percent, which remains unchanged from both March and April.
On the supersector level, the gain of 2,000 jobs in the Government sector dwarfed the increase made by any other sector. Three other supersectors had slight employment gains, Education and Health Services (increased 600 jobs), Professional and Business Services (added 400 jobs), and Financial Activities (gained 200 positions). The most significant losses were reported in the Trade, Transportation, and Utilities sector which declined by 1,600 jobs, Mining, Logging, and Construction with a decrease of 1,400 positions, and the Leisure and Hospitality sector which lost 1,000 jobs. On the subsector level, we see that Maryland’s increase in Government positions was concentrated almost entirely within State Government, which gained 1,800 jobs. Maryland’s next highest gains were in Health Care and Social Assistance, which added 1,000 jobs, and Professional, Scientific, and Technical Services, which gained an additional 600 positions. The largest declines on the subsector level were in Mining, Logging, and Construction (down by 1,400 jobs), Transportation and Utilities (lost 1,200 jobs), and Accommodation and Food Services (dropped 800 positions).
Neighboring states in the Mid-Atlantic region (Virginia, Pennsylvania, Delaware, and Washington, D.C.) joined Maryland in losing 2,900 Total Nonfarm jobs between April and May, with a loss of 4,600 Total Private jobs similarly offset by a gain of 1,700 Government jobs. Neighboring states’ largest gains on the supersector level were in Education and Health Services, which added 3,900 jobs, Government, with the previously-referenced gain of 1,700 jobs, and Mining, Logging, and Construction, which added 1,300 positions. The largest overall losses in these states were reported in the Professional and Business Services sector (decreased 7,100 jobs) and the Leisure and Hospitality sector (lost 2,400 positions). The unemployment rate for neighboring states in May remained unchanged at 3.5 percent.
Earlier this month, the Federal Reserve Bank of Richmond made their latest report on the status of the Fifth Federal Reserve District, which includes Maryland. They reported that demand for labor continues to increase, while overall supply has remained relatively low. This has resulted in a small uptick in job openings as reported by employment agencies, along with businesses reporting difficulty filling positions across many different occupations, including engineers, IT professionals, administrative staff, and accounting and finance professionals. It has also resulted in “modest” wage growth, with continuing pressure that may foretell a further increase in wages. Growth in manufacturing has slowed, reflecting the lack of gains or losses in employment within Maryland’s manufacturing sector over the most recent months. Activity has been strong among ports in the Fifth District, a positive sign for Baltimore, but there is a cloud of uncertainty regarding the effect of new tariffs. Home prices continue to rise, driven by an increased pace in sales and a low inventory of single-family residences. This corresponds with an increased demand for residential mortgages, although loans for automobiles are not experiencing any change.
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 2017 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. With a passion for all things economic, Daraius's posts focus on a wide range of topics from immigration to bicycling.
Jacob Leh serves as a Research Associate at the Regional Economic Studies Institute, where he conducts research and collects, extracts, and analyzes data for the Maryland State Department of Education (MSDE) Child Care Subsidy Program. He also works with the Maryland Department of the Environment and E3 to examine the effect of Maryland state policies on a regional goal to reduce greenhouse gas emissions.