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Maryland

aerial view of Maryland

Payroll employment in Maryland increased by 4,900 jobs (0.2 percent) in January. The unemployment rate edged down to 3.0 percent.

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Labor Market Conditions

"Maryland's labor market improved somewhat in January as payroll employment expanded, and the unemployment rate edged lower." – Joseph Mengedoth
Total payroll employment in Maryland increased by 4,900 jobs (0.2 percent), on net, in January. The largest job gains occurred in government (2,300 jobs), followed by education and health services (2,000 jobs).
On a year-over-year basis, payroll employment in Maryland increased by 8,000 jobs (0.3 percent), on net. The most jobs were added over the year in education and health services (15,200 jobs), followed by government (9,300 jobs). Total gains were partially offset by sizeable losses in professional and business services (9,900 jobs) and construction (6,000 jobs).
Maryland's unemployment rate edged down to 3.0 percent in January as the number of people unemployed fell by 2,300.

Housing Market Conditions

Residential permits increased by 25.4 percent from December 2024 to January 2025. Compared to a year ago, January 2024, Maryland has seen permits increase by 39.8 percent.
According to the Federal Housing Finance Agency, the value of homes in Maryland appreciated by 0.4 percent in Q4 of 2024 compared to Q3 of 2024. Also, home values appreciated by 6.2 percent in Q4 of 2024 compared to Q4 of 2023.

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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Joseph Mengedoth