Overall unemployment rate moved down to 4.1% with the biggest shift in Transportation & Utilities, which lost 2,600 roles, based on the most recently available information published in August 2022.
Total employment in the Baltimore-Columbia-Towson, MD market rose by 3,584 jobs in July and the unemployment rate decreased compared to the prior month by 50 bps to 4.1%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Baltimore-Columbia-Towson, MD unemployment rate is 32 bps above the national rate which is a negative sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 2.1% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Education & Healthcare: 260,000; +500
- Transportation & Utilities: 254,500; -2,600
- Business Services: 253,900; +1,700
- Government: 219,300; -1,400
- Restaurants & Hotels: 139,600; +1,400
- Construction, Mining: 84,800; +2,400
- Financial Services: 76,900; -500
- Manufacturing: 63,400; +1,100
- Other Jobs: 49,800; -200
- IT & Development: 17,000; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.