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Maryland

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Maryland payroll employment decreased by 100 jobs (0.0 percent) in March. The unemployment rate has risen 0.1 percentage point from February to 2.5 percent.

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Labor market icon showing three people Labor Market Conditions

  • "Maryland's overall job growth remained flat in March 2024 and over the past year. Continued hiring in education, health services, and government helped offset losses across several other sectors. The state's unemployment rate remains one of the lowest in the nation." — Adam Scavette
  • Maryland payroll employment decreased by 100 jobs (0.0 percent), on net, in March. Government (1,700 jobs) experienced the largest month-over-month increase in jobs, followed by education and health services (1,300 jobs), and construction (400 jobs). Job declines occurred in trade, transportation, and utilities (2,600 jobs), professional and business services (1,600 jobs), and manufacturing (100 jobs).
  • On a year-over-year basis, Maryland payroll employment increased by 1,400 jobs (0.1 percent), on net. The most jobs were added over the year in education and health services (15,600 jobs), followed by government (11,700 jobs). The most jobs lost over the year were in professional and business services (8,800 jobs), trade, transportation, and utilities (8,700 jobs), and construction (4,700 jobs).
  • The unemployment rate in Maryland has risen 0.1 percentage point from February to 2.5 percent and has risen 0.5 percentage point from its March 2023 reading of 2.0 percent. Maryland's unemployment rate remains the lowest in the Fifth District and the fourth lowest among U.S. states (after North Dakota, South Dakota, and Vermont).

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

  • Residential housing permits increased 40.5 percent in Maryland from January to February and were up 4.7 percent on a year-over-year basis.
  • According to the Federal Housing Finance Agency, home values in Maryland appreciated 5.8 percent from the fourth quarter of 2022 to the fourth 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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