Overall unemployment rate moved up to 4.0% with the biggest shift in Education & Healthcare, which gained 3,000 roles, based on the most recently available information published in December 2022.
Total employment in the Baltimore-Columbia-Towson, MD market declined by 2,987 jobs in October and the unemployment rate increased compared to the prior month by 30 bps to 4.0%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Baltimore-Columbia-Towson, MD unemployment rate is 60 bps above the national rate which is a negative sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 0.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.1% . Key sectors include:
- Education & Healthcare: 266,200; +3,000
- Transportation & Utilities: 257,500; -900
- Business Services: 252,200; -500
- Government: 226,600; -900
- Restaurants & Hotels: 128,200; -1,100
- Construction, Mining: 84,800; +800
- Financial Services: 78,500; +1,500
- Manufacturing: 64,200; +600
- Other Jobs: 48,800; -1,100
- IT & Development: 17,500; +300
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.