Overall unemployment rate moved down to 3.7% with the biggest shift in Government, which gained 7,400 roles, based on the most recently available information published in November 2022.
Total employment in the Baltimore-Columbia-Towson, MD market declined by 12,318 jobs in September and the unemployment rate decreased compared to the prior month by 60 bps to 3.7%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Baltimore-Columbia-Towson, MD unemployment rate is 38 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 September versus prior month by 0.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Education & Healthcare: 261,900; +1,900
- Transportation & Utilities: 258,600; +2,400
- Business Services: 252,900; -3,500
- Government: 227,500; +7,400
- Restaurants & Hotels: 129,200; -6,300
- Construction, Mining: 84,000; -1,300
- Financial Services: 76,800; -800
- Manufacturing: 63,600; -400
- Other Jobs: 50,000; -1,100
- IT & Development: 17,300; +300
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.