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Maryland

aerial view of Maryland

Payroll employment in Maryland increased by 3,400 jobs (0.1 percent) in February. The unemployment rate was unchanged at 3.0 percent.

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Labor Market Conditions

"Maryland's labor market continued to improve in February as payroll employment grew and the number of people on unemployment declined slightly." – Joseph Mengedoth
Total payroll employment in Maryland increased by 3,400 jobs (0.1 percent), on net, in February. The largest job gains occurred in construction (4,100 jobs), followed by leisure and hospitality (2,200 jobs) and education and health services (1,800 jobs). Total gains were partially offset by losses in "other" services (1,500 jobs), government (1,200 jobs), and trade, transportation, and warehousing (1,200 jobs).
On a year-over-year basis, payroll employment in Maryland increased by 18,000 jobs (0.6 percent), on net. The most jobs were added over the year in education and health services (15,600 jobs), followed by government (13,000 jobs).
Maryland's unemployment rate was unchanged at 3.0 percent in February despite seeing a 600 person decline in the number of people unemployed.

Housing Market Conditions

Residential permits increased by 3.4 percent from January 2025 to February 2025. Compared to a year ago, February 2024, Maryland has seen permits increase by 2.9 percent.
According to the Federal Housing Finance Agency, the value of homes in Maryland appreciated by 0.4 percent in Q4 of 2024 compared to Q3 of 2024. Also, home values appreciated by 6.2 percent in Q4 of 2024 compared to Q4 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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Joseph Mengedoth