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Federal Reserve Bank of Richmond

Maryland

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Payroll employment in Maryland decreased by 8,200 jobs (0.3 percent) in August. The unemployment rate edged down 0.1 percentage point to 4.1 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Maryland's labor market contracted in August and gave up most of the job gains that were reported in July. Additionally, the state's labor force contracted slightly in August." – Joseph Mengedoth
  • Payroll employment in Maryland fell by 8,200 jobs (0.3 percent), on net, in August. The most jobs were lost in the month in education and health services (4,200 jobs), construction (2,000 jobs), and manufacturing (1,000 jobs).
  • On a year-over-year basis, total payroll employment in Maryland declined by 5,500 jobs (0.2 percent). The largest job losses occurred in the trade, transportation, and utilities sector (14,500 jobs) and the government sector (8,500 jobs).
  • Maryland's unemployment rate edged down 0.1 percentage point to 4.1 percent in August as the number of unemployed declined; however, the labor force also contracted in the month.

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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Joseph Mengedoth