November 2016 Jobs Report Analysis

This Thanksgiving, Marylanders have a lot to be thankful for. Unemployment in the state continues to be lower than the national average. According to jobs numbers released on Friday, Maryland’s unemployment rate was 4.2 percent, compared to the national rate of 4.9 percent. Both the state and national unemployment rates held steady over the past month. Maryland added 2,200 private nonfarm jobs in October, an increase of 0.1 percent. However, these gains were balanced out by a loss of 1,500 jobs in Government, a decrease of 0.29 percent. Total nonfarm employment is still higher than October 2015 levels. Over the past year, total nonfarm employment rose by 34,700 jobs, an increase of 1.3 percent. How did the various sectors of our economy do in the past month?

RESI in the News

Economists See Mixed Signs in Maryland’s September Jobs Report, The Baltimore Sun, 10/21/2016

Dr. Daraius Irani comments that the summer employment decline may be a sign of impending slower growth or an economic recession.

Fight Brews over Costs of N.J.’s Massive Bail Overhaul, nj.com, 11/15/2016

A 2014 study from the Regional Economic Studies Institute is cited that estimates the net costs of a pre-trial release program to exceed $215 million annually.