• The most recent jobs report showed that between March 2025 and April 2025, Maryland gained 2,300 Total Nonfarm jobs.
  • The official unemployment rate for Maryland increased to 3.1 percent.

According to the most recent report from the Bureau of Labor Statistics (BLS), Maryland gained a total of 2,300 Total Nonfarm jobs between March 2025 and April 2025. This was a result of a gain of 3,600 Total Private jobs being offset by a decrease of 1,300 Total Government jobs. Maryland’s unemployment rate increased to 3.1 percent from 3.0 percent the month prior.

We have previously noted that mass layoffs in the federal workforce have not been reflected in early Bureau of Labor Statistics (BLS) data. This remains true, although in April there was a slight decline in layoff activity by the new federal administration. For Maryland residents, Initial Federal Unemployment Insurance Claims (UCFE) declined roughly 65 percent from March to April. As of current, there have been a total of 1,068 initial UCFE claims, with April totaling only 165 claims compared to 465 in March. Currently, around 190 claims are ongoing. Maryland Department of Labor anticipates higher claim volumes than usual for UCFE claims, as federal actions continue.

Maryland’s economic future is facing significant challenges as Maryland’s budget crosses the finish line. State lawmakers and Governor Wes Moore finalized state budget plans this week with the budget officially signed into law, which has led to some controversy regarding state plans to address its $3.3 billion budget deficit.

The Fiscal Year 2026 budget includes new tax reforms, specifically a 3% sales tax on data, IT services, and software publishing. Governor Moore aims to address the states stagnant economic growth with this plan, which is expected to generate about $497 million starting in the new upcoming fiscal year by targeting this growing industry. Other new taxes include a 6% sales tax on vending machine purchases, an increase in the vehicle excise tax, increased taxes on cannabis sales and sports betting, and new tax brackets for persons making over $500,000. Additionally, the new budget includes $2 billion in spending cuts to address budget shortfalls. Opponents fear the tax reform may drive technology firms from the state, while supporters believe it will modernize the tax system, and promote economic diversification.

In April, the state continued to navigate uncertainties of the trade war and retaliatory tariffs. This was a peak time for tariff announcements by President Trump that resulted in several retaliatory measures. The Port of Baltimore, recognized as one of the nation’s most diverse ports handled the second-highest volume of cars and light trucks among U.S. ports the previous year, with nearly 85% of all vehicles being imports.

On April 3, the 25% tariff on vehicle imports, first announced in March, went into effect, while imported component parts were delayed. Currently automakers are holding vehicles at the port to evaluate the impacts of tariffs on autos and vehicle parts. There are rising concerns that tariffs may negatively affect business for automakers, port operations and the broader Maryland economy, particularly due to declining container cargo volumes.

RESI will continue to monitor new policies at both the federal and state level and their potential impact on the economy of Maryland. With the situation evolving quickly, stay tuned for more updates on how employment is changing across Maryland, the region, and the country.