Employment Snapshot - Baltimore-Columbia-Towson, MD March-2021

Weller Emmons

VP of Analytics and Finance at Mployer Advisor. He is passionate about leveraging data to provide industry leading insights for Mployer Advisor’s clients. Prior to joining Mployer Advisor, Emmons served as a healthcare provider strategy consultant for Knowledge Capital Group and as an internal strategy consultant at HCA Healthcare. Emmons earned his MBA and BE in Biomedical Engineering, both from Vanderbilt University.

Market Employment Summary

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Additional Benchmarking Resources

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Overall unemployment rate moved down to 5.7% with the biggest shift in Business Services, which gained 4,500 roles, based on the most recently available information published in April 2021.

Total employment in the Baltimore-Columbia-Towson, MD market rose by 12,893 jobs in March and the unemployment rate decreased compared to the prior month by 20 bps to 5.7%. The national unemployment rate decreased by 38 bps over the same time to 6.2%.

Baltimore-Columbia-Towson, MD unemployment rate is 48 bps below the national rate which is a positive sign.
Unemployment in the market is 190 bps above the unemployment rate in the market last year at this time, which is a negative.
Average wages (per hour) grew in March versus prior month by 3.7% and are down compared to last year at this time in the market.

Month over Month Unemployment Change

Year over Year Unemployment Change

Baltimore-Columbia-Towson, MD Unemployment March 2021

For key employment segments of the market, total jobs grew by 1.3% . Key sectors include:

Education & Healthcare: 270,000; +400
Business Services: 240,700; +4,500
Transportation & Utilities: 236,800; +1,700
Government: 222,400; +2,800
Restaurants & Hotels: 99,100; +4,200
Construction, Mining: 79,800; +3,400
Financial Services: 74,900; +200
Manufacturing: 58,700; +700
Other Jobs: 45,200; +300
IT & Development: 15,400; -500

Employment Change by Key Sector

Baltimore-Columbia-Towson, MD Unemployment by Industry March 2021

Data is based on the most recent 12 months available, through March 2021 (Data published April 2021 and reports created on April 29, 2021). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Baltimore-Columbia-Towson, MD