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Maryland

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Maryland payroll employment increased by 5,600 jobs (0.2 percent) in June. The unemployment rate rose 0.1 percentage point from May to 2.8 percent.

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  • "Maryland's job growth in June was driven by gains in government and professional and business services. The state's job growth remains weaker than most peer Fifth District states on a year-over-year basis." – Adam Scavette
  • Maryland payroll employment increased by 5,600 jobs (0.2 percent), on net, in June. Government (1,700 jobs) experienced the largest month-over-month increase in jobs, followed by professional and business services (1,600 jobs), and trade, transportation, and utilities (1,400 jobs). Only leisure and hospitality (1,100 jobs) experienced job losses in June.
  • On a year-over-year basis, Maryland payroll employment increased by 7,400 jobs (0.3 percent), on net. The most jobs were added over the year in government (16,500 jobs), followed by education and health services (10,900 jobs). The most jobs lost over the year were in trade, transportation, and utilities (6,800 jobs), professional and business services (5,100 jobs), and construction (4,200 jobs).
  • The unemployment rate in Maryland rose 0.1 percentage point from May to 2.8 percent and rose 0.9 percentage point from its June 2023 reading of 1.9 percent.

Housing Market icon showing a picture of a house Housing Market Conditions

  • Residential permits decreased by 15.1 percent from May 2024 to June 2024; however, compared to a year ago, June 2023, Maryland has seen permits increase by 13.3 percent.
  • According to the Federal Housing Finance Agency, the value of homes in Maryland appreciated by 1.5 percent in Q1 of 2024 compared to Q4 of 2023. Compared to Q1 of 2023, home values appreciated by 6.8 percent in Q1 of 2024.
Snapshot Resources
  • Term Definitions

    Payroll Employment
    The number of nonfarm jobs (persons on payrolls) according to where those jobs are located.

    Unemployment Rate
    The number of unemployed persons (those not employed but available and searching for work) as a percent of the civilian labor force (the total number of employed plus unemployed persons).

    Industry Structure
    A breakdown of total nonfarm jobs by industry. Percentages sum to 100 percent.

    Industry Growth
    The percentage change in jobs in each industry from a year ago.

    Building Permits
    The number of privately owned single-family and multi-family units authorized in permit-issuing places.

    House Price Index
    A repeat sales index, measuring average price changes in repeat sales or refinancings on the same single-family properties.

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