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Maryland

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Employment in Maryland increased by 8,200 jobs (0.3 percent) in January. The unemployment rate remained at 3.0 percent.

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Labor market icon showing three people Labor Market Conditions

  • Maryland payroll employment increased by 8,200 jobs (0.3 percent), on net, in January. The most jobs were added over the month in leisure and hospitality (4,500 jobs). The most jobs were lost in professional and business services (5,900 jobs).
  • Since January 2022, Maryland payroll employment increased by 41,200 jobs (1.5 percent), on net. However, employment remained 1.6 percent below its pre-pandemic level from February 2020. Jobs were added over the year in all sectors except professional and business services, which lost 6,400 jobs. The most jobs were added in education and health services (15,600 jobs).
  • The unemployment rate in Maryland remained at 3.0 percent from December to January. It was 0.7 percentage point below its reading from January 2022 and 0.5 percentage point below its pre-pandemic reading from February 2020.

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

  • Residential housing permits increased by 15.8 percent in Maryland from December to January and were down 27.2 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Maryland appreciated 7.9 percent from the fourth quarter of 2021 to the fourth quarter of 2022.
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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