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Federal Reserve Bank of Richmond

Maryland

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Payroll employment in Maryland declined by 5,500 jobs (0.2 percent) in February. The unemployment rate was unchanged at 4.3 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Maryland's labor market softened somewhat in February as total payroll employment declined while the unemployment rate remained at 4.3 percent." – Joseph Mengedoth
  • Total payroll employment in Maryland declined by 5,500 jobs (0.2 percent), on net, in February. The most jobs were lost in the month in construction (4,100 jobs), trade, transportation, and utilities (2,400 jobs), and leisure and hospitality (800 jobs).
  • On a year-over-year basis, payroll employment in Maryland declined by 52,700 jobs (1.9 percent), on net. The most jobs were lost over the year in government (22,800 jobs), trade, transportation, and utilities (15,500 jobs), and professional and business services (14,000 jobs).
  • Maryland's unemployment rate was unchanged in February at 4.3 percent.

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

  • Residential permits decreased 57.6 percent from November 2025 to December 2025. Compared to a year ago, December 2024, Maryland has seen permits decrease 43.8 percent.
  • According to the Federal Housing Finance Agency, the value of homes in Maryland appreciated 0.6 percent in Q4 of 2025 compared to Q3 of 2025. Also, home values appreciated 2.8 percent in Q4 of 2025 compared to Q4 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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Joseph Mengedoth