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Federal Reserve Bank of Richmond
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Maryland

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Payroll employment in Maryland declined by 8,800 jobs (0.3 percent) in September. The unemployment rate declined by 0.2 percentage point to 3.9 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Labor market reports for Maryland gave mixed signals with a decline in total payroll employment coupled with a declining unemployment rate." – Trisha Biswas
  • Total payroll employment in Maryland declined by 8,800 jobs (0.3 percent) in September, on net. Maryland saw the largest decline in the leisure and hospitality industry (3,700 jobs) followed by education and health services (3,300 jobs). Manufacturing was one of the few industries to experience an increase in jobs (600 jobs).
  • On a year-over-year basis, total payroll employment in Maryland declined by 13,900 jobs (0.5 percent), on net. Jobs were lost predominantly in trade, transportation, and utilities, which declined by 14,500 jobs from last year.
  • The unemployment rate in Maryland declined by 0.2 percentage points to 3.9 percent in September, suggesting a tightening labor market.

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

  • Residential permits decreased 6.9 percent from July 2026 to August 2026. Compared to August 2025, Maryland permits increased by 7.2 percent.
  • According to the Federal Housing Finance Agency, the value of homes in Maryland appreciated 0.8 percent in Q2 of 2026 compared to Q1 of 2026. Also, home values appreciated 2.2 percent in Q2 of 2026 compared to Q2 of 2025.
Snapshot Resources

  • 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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