Area Economic Summary

Baltimore area Economic Summary

Updated December 12, 2019

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 regions/economic-summaries.htm.

Unemployment rates for the Baltimore area, selected area counties, and the nation

Unemployment rates

Average weekly wages for all industries by county

Baltimore area, second quarter 2019 (U.S. = $1,095; Area = $1,160)

United States

3.5

3.3

Baltimore area

3.7 3.3

Anne Arundel Co., MD

3.1 2.8

Baltimore Co., MD

3.8 3.4

Baltimore city, MD

5.1 4.7

Harford Co., MD

3.3 3.0

0.0

2.0

4.0

6.0

Oct-18 Oct-19 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

12-month percent changes in employment 2.5

2.0

1.5

1.0

0.5

0.0 Oct-16

Oct-17

Oct-18

Oct-19

Baltimore area

United States

Source: U.S. BLS, Current Employment Statistics.

Baltimore area employment (number in thousands)

Change from Oct. Oct. 2018 to Oct. 2019 2019

Number Percent

Total nonfarm

1,447.8

23.2

1.6

Mining, logging, and construction

86.0

4.5

5.5

Ma nufa cturi ng

56.4

-1.1

-1.9

Trade, transportation, and utilities

248.5

2.0

0.8

I nforma ti on

17.2

0.0

0.0

Financial activities

80.4

0.7

0.9

Professional and business services

247.2

9.6

4.0

Education and health services

287.6

3.0

1.1

Leisure and hospitality

142.3

4.8

3.5

Other services

50.9

-1.7

-3.2

Government

231.3

1.4

0.6

Source: U.S. BLS, Current Employment Statistics.

Over-the-year change in the prices paid by urban consumers for selected categories

12-month percent change in CPI-U, October 2019

4.0 1.8

2.0 1.0

2.1 1.0

0.0

-2.0

-4.0

-6.0

-4.2

-8.0

-10.0

All items Baltimore area

-8.3

Food

Energy

U.S. city average

Source: U.S. BLS, Consumer Price Index.

Over-the-year changes in the selling prices received by producers for selected industries nationwide

12-month percent changes in PPI

12.0

10.0

8.0

6.0

4.0

2.0

0.0

-2.0 Nov-16

Nov-17

Nov-18

General freight trucking

Hospitals

Computer & electronic product mfg

Source: U.S. BLS, Producer Price Index.

Nov-19

Average annual spending and percent distribution for selected categories

Average annual expenditures, United States and

100% 80% 60%

Baltimore area, 2017-18

$13,199 $5,425 $11,039

$8,813

$11,178 $4,902 $7,034 $7,826

40%

$11,741

$9,669

20%

$23,957

$19,971

0% Baltimore area

United States

All other items

Healthcare

Personal insurance & pensions

Food

Transportation

Housing Source: U.S. BLS, Consumer Expenditure Survey.

Average hourly wages for selected occupations

Occupation All occupations

Baltimore area

United States

$27.76 $24.98

Lawyers

58.84 69.34

Management analysts

45.75 45.38

Accountants and auditors

39.98 37.89

Electricians

25.48 28.46

Billing and posting clerks

18.83 19.00

Retail salespersons

13.39

Source: U.S. BLS, Occupational Employment Statistics, May 2018.

13.61

Employer costs per hour worked for wages and

Over-the-year changes in wages and salaries

selected employee benefits by geographic division

Private industry, June 2019

South Atlantic

United States

3.5

12-month percent changes in ECI

Total compensation

$31.64

$34.44

3.0

Wages and salaries Total benefits

Paid leave Vacation

22.50

24.14

2.5

9.14

10.30

2.21

2.47

2.0

1.14

1.27

1.5

Supplemental pay

1.02

1.11

1.0

Insurance

2.36

2.76

Retirement and savings

1.18

1.31

Legally required benefits

2.38

2.66

(1) The states that compose the South Atlantic census division are: DE, DC, FL, GA, MD, NC, SC, VA, and WV. Source: U.S. BLS, Employer Costs for Employee Compensation.

0.5

0.0

Sep-16

Sep-17

South Atlantic

Source: U.S. BLS, Employment Cost Index.

Sep-18

Sep-19

United States

Mid-Atlantic Information Office ? BLSinfoPhiladelphia@ ? ? 215-597-3282

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