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Eye on the Economy: An Interactive Look at Maryland and the Regional Economy in May 2020

Interactive Look at Maryland and the Regional Economy

• The most recent jobs report showed that between April and May, Maryland gained a total of 29,800 Total Nonfarm jobs.

• The official unemployment rate for Maryland dropped to 9.9 percent.

• This month, BLS has recognized an issue with their own calculations, noting that there is a “misclassification error” that has caused unemployment to be undercounted.

Set up for success for returning to work

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How do your employees really feel about returning to work? How can you better help them during this stressful transition? The Regional Economic Studies Institute is here to help your organizations "check the pulse" of your workforce.

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RESI in the News

To survive after coronavirus, Maryland mall managers must get creative, economist says 
The Baltimore Sun, 06/08/2020 
As Maryland moves forward with its reopening plan, malls and indoor shopping centers are one of the last parts of the economy to unlock their doors. As RESI Chief Economist Daraius Irani notes, this has created serious problems for a sector that was already in decline. For years, online retail has been siphoning revenue and sales from traditional brick-and-mortar stores. The added stress of the coronavirus has already pushed retailers such as JCPenney, J.Crew, Lord & Taylor, Neiman Marcus and Pier 1 into bankruptcy. Irani expects these closures to continue even after malls are able to reopen.

Industry officials: Deregulation helps freight industry thrive without federal bailout, The Center Square, 05/24/2020

From packed house to curbside pickup: Coronavirus quiets Gordon Ramsay boost to Ellicott City businesses, The Baltimore Sun, 05/20/2020 

Some Maryland businesses are preparing to reopen. But don’t expect the economy to bounce back quickly, The Baltimore Sun, 05/09/2020 

Baltimore-area governments are weighing big cuts as they brace for a collapse in revenues due to coronavirus, The Baltimore Sun, 05/01/2020

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