Baltimore area Economic Summary Updated September 07, 2021 This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the nation and selected Average weekly wages for all industries by county areas Baltimore area, first quarter 2021 (U.S. = $1,289; Area = $1,328) Unemployment rates
10.5 United States 5.7
8.5 Baltimore area 5.4
Anne Arundel Co., 7.6 MD 4.7
Baltimore Co., 8.9 MD 5.5
Baltimore city, 11.5 MD 7.3
7.4 Harford Co., MD 4.9
0.0 5.0 10.0 15.0 Jul-20 Jul-21 Source: U.S. BLS, Local Area Unemployment Statistics. Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
Change from Jul. 12-month percent changes in employment Baltimore area employment Jul. 2021 2020 to Jul. 2021 15.0 (number in thousands) Number Percent 10.0 Total nonfarm 1,367.3 62.1 4.8 Mining, logging, and construction 78.9 -1.1 -1.4 5.0 Manufacturing 58.6 1.1 1.9 0.0 Trade, transportation, and utilities 241.8 8.4 3.6 Information 16.8 0.5 3.1 -5.0 Financial activities 76.8 0.4 0.5 -10.0 Professional and business services 246.8 15.5 6.7 Education and health services 265.8 9.6 3.7 -15.0 Leisure and hospitality 118.1 17.1 16.9 Jul-18 Jul-19 Jul-20 Jul-21 Other services 47.0 2.9 6.6 Baltimore area United States Government 216.7 7.7 3.7 Source: U.S. BLS, Current Employment Statistics. Source: U.S. BLS, Current Employment Statistics. Over-the-year change in the prices paid by urban Over-the-year changes in the selling prices received by consumers for selected categories producers for selected industries nationwide
12-month percent change in CPI-U, June 2021 12-month percent changes in PPI 30.0 25.0 24.5 20.0 25.0 21.3 15.0 20.0 10.0 5.0 15.0 0.0 10.0 -5.0 5.4 4.5 -10.0 5.0 2.4 0.7 Jul-18 Jul-19 Jul-20 Jul-21 General freight trucking 0.0 All items Food Energy Hospitals Baltimore area U.S. city average Computer & electronic product mfg Source: U.S. BLS, Consumer Price Index. Source: U.S. BLS, Producer Price Index.
Average annual spending and percent distribution Average hourly wages for selected occupations for selected categories United Occupation Baltimore area States Average annual expenditures, United States and All occupations $30.05 $27.07 Baltimore area, 2018-19 100% $13,308 $11,144 Lawyers 67.37 71.59 80% $5,650 $5,081 $12,350 $7,230 60% Management analysts 48.04 46.91 $8,434 $8,047 40% $13,255 $10,507 Accountants and auditors 40.08 39.26 20% $24,601 $20,386 0% Electricians 27.22 29.59 Baltimore area United States All other items Healthcare Billing and posting clerks 20.87 20.01 Personal insurance & pensions Food Transportation Retail salespersons 14.41 14.87 Housing Source: U.S. BLS, Consumer Expenditure Survey. Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2020.
Employer costs per hour worked for wages and Over-the-year changes in wages and salaries selected employee benefits by geographic division 12-month percent changes in ECI Private industry, United South Atlantic March 2021 States 4.5 Total compensation $34.23 $36.64 4.0 Wages and salaries 24.73 25.80 3.5 Total benefits 9.50 10.83 3.0 Paid leave 2.56 2.72 2.5 Vacation 1.32 1.39 2.0 Supplemental pay 1.06 1.27 1.5 Insurance 2.29 2.83 1.0 0.5 Retirement and savings 1.06 1.25 0.0 Legally required benefits 2.53 2.77 (1) The states that compose the South Atlantic census division are: DE, DC, Jun-18 Jun-19 Jun-20 Jun-21 FL, GA, MD, NC, SC, VA, and WV. South Atlantic United States Source: U.S. BLS, Employer Costs for Employee Compensation. Source: U.S. BLS, Employment Cost Index.
Mid-Atlantic Information Office • [email protected] • https://www.bls.gov/regions/mid-atlantic • 215-597-3282