Overall unemployment rate moved up to 4.6% with the biggest shift in Restaurants & Hotels, which gained 7,800 roles, based on the most recently available information published in August 2022.
Total employment in the Baltimore-Columbia-Towson, MD market rose by 15,785 jobs in June and the unemployment rate increased compared to the prior month by 100 bps to 4.6%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Baltimore-Columbia-Towson, MD unemployment rate is 76 bps above the national rate which is a negative sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 1.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Education & Healthcare: 262,300; +400
- Transportation & Utilities: 258,700; +1,100
- Business Services: 252,400; +1,500
- Government: 220,700; -7,000
- Restaurants & Hotels: 138,700; +7,800
- Construction, Mining: 82,400; +200
- Financial Services: 77,200; +500
- Manufacturing: 62,400; +300
- Other Jobs: 50,200; +1,700
- IT & Development: 16,500; -400
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.