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Federal Reserve Bank of Richmond

Maryland

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Payroll employment in Maryland increased by 11,700 jobs (0.4 percent) in July. The unemployment rate edged down 0.1 percentage point to 4.2 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Maryland's labor market improved markedly in July as the gain in payroll employment was one of the largest percentage increases in the country in the month. Additionally, the unemployment rate declined further to 4.2 percent." – Joseph Mengedoth
  • Total payroll employment in Maryland increased by 11,700 jobs (0.4 percent), on net, in July. The most jobs were added in the month in education and health services (5,400 jobs), professional and business services (3,700 jobs), and leisure and hospitality (2,100 jobs).
  • On a year-over-year basis, total payroll employment in Maryland is down slightly (600 jobs or 0.0 percent), on net.
  • Maryland's unemployment rate edged down 0.1 percentage point to 4.2 percent in July.

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

  • Residential permits increased 1.1 percent from June 2026 to July 2026. Compared to July 2025, Maryland permits decreased by 11.4 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