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Eye on the Economy: An Interactive Look at Maryland and the Regional Economy in July 2021

Interactive Look at Maryland and the Regional Economy

• The most recent jobs report showed that in July 2021, Maryland gained a total of 22,200 Total Nonfarm jobs.

• The official unemployment rate for Maryland decreased to 6.0 percent.

RESI in the News

Future of Pandora in downtown Baltimore leaves some wondering what will be left
Fox 45 News, July 19, 2021 

Baltimore’s Inner Harbor has recently seen a drastic increase in their vacancy rate, climbing to over 20 percent in April of this year. Pandora, the Danish jewelry company, has occupied a building in the Inner Harbor since 2015 but is now reportedly relocating to Harbor East. RESI Chief Economist Daraius Irani commented that this trend is, “not necessarily a loss, but an opportunity to reimage the area down there.”

Baltimore Restaurant Owners Calling on Congress for More Federal Relief Money
Fox 45 News, July 22, 2021 

Maryland’s economy has started to recover from the pandemic as COVID-19 transmission rates dropped following vaccine distribution in the state. However, the spread of the new delta variant and the slowing pace of vaccinations pose a threat to businesses. In Baltimore, two dozen restaurant owners gathered to advocate for more federal relief funding from Congress, arguing that the pandemic is not yet over. RESI Chief Economist Daraius Irani commented that, “there are a lot of positive indicators that the economy is moving ahead - but there are also a bit of ominous signs that there are some challenges going forward.”

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