Employment Snapshot - Baltimore-Columbia-Towson, MD March-2022

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 4.2% with the biggest shift in Restaurants & Hotels, which gained 5,800 roles, based on the most recently available information published in April 2022.

Total employment in the Baltimore-Columbia-Towson, MD market rose by 19,249 jobs in March and the unemployment rate decreased compared to the prior month by 10 bps to 4.2%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.

Baltimore-Columbia-Towson, MD unemployment rate is 45 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 March versus prior month by 3.8% and are up 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 2022

For key employment segments of the market, total jobs grew by 1.0% . Key sectors include:

Education & Healthcare: 262,600; +1,000
Transportation & Utilities: 255,600; +1,100
Business Services: 248,000; +2,900
Government: 226,500; +1,000
Restaurants & Hotels: 122,600; +5,800
Construction, Mining: 80,700; +1,400
Financial Services: 75,700; +100
Manufacturing: 59,600; +300
Other Jobs: 47,000; -100
IT & Development: 17,100; -100

Employment Change by Key Sector

Baltimore-Columbia-Towson, MD Unemployment by Industry March 2022

Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.

Baltimore-Columbia-Towson, MD