March 2017 Jobs Report Analysis

On Monday, the Bureau of Labor Statistics released its preliminary January 2017 employment numbers for Maryland. In January, Maryland’s unemployment rate remained at 4.2 percent, the same rate since August 2016. Maryland continues to have a lower unemployment rate than the nation as a whole, which had a 4.8 percent unemployment rate in January. Maryland’s economy added 6,700 nonfarm jobs in January and the unemployment rate has remained stable due in large part to more people entering the workforce. The increase in total employment is largely due to an increase in private nonfarm jobs; Maryland added 7,500 private nonfarm jobs in January and lost about 800 government jobs. This month RESI Chief Economist Daraius Irani, Ph.D., examines which industries grew over the past month and which industries had the winter blues.

RESI in the News

Increased Military Spending Double-Edged Sword for Maryland, WBAL TV11, 02/28/2017

RESI Chief Economist Daraius Irani, Ph.D., of Towson University said, "We are increasing the number of very highly paid the defense jobs [sic], so that's a good thing. The downside is obviously there are going to be some cuts to programs—social programs, art programs. That would be a bad thing."

Group Wants to Establish Catonsville as County’s First Arts District, The Baltimore Sun, 03/06/2017

According to a 2015 RESI report, Arts and Entertainment Districts in Maryland added approximately $571 million to Maryland GDP in fiscal year 2014.