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Employment in Maryland increased by 12,400 jobs (0.5 percent) in August. The unemployment rate fell 0.1 percentage point to 1.7 percent.

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Labor market icon showing three people Labor Market Conditions

  • Maryland payroll employment increased by 12,400 jobs (0.5 percent), on net, in August. The most jobs were added over the month in professional and business services (6,300 jobs). The most jobs were lost in transportation, trade, and utilities (500 jobs).
  • Since August 2022, Maryland payroll employment increased by 32,300 jobs (1.2 percent), on net. However, employment remained 0.7 percent below its pre-pandemic level from February 2020. The most jobs were added over the year in government (16,300 jobs). Transportation, trade, and utilities experienced the biggest job loss (8,800 jobs).
  • The unemployment rate in Maryland fell 0.1 percentage point to 1.7 percent from July to August. It was 1.7 percentage point below its reading from August 2022 and 1.8 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 17.6 percent in Maryland from July to August but were up 40.0 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Maryland appreciated 4.6 percent from the second quarter of 2022 to the second quarter 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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