MD 3.0 Baltimore area Economic Summary
Baltimore area Economic Summary
Updated April 08, 2020
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 nation and selected areas
Unemployment rates
Average weekly wages for all industries by county
Baltimore area, third quarter 2019 (U.S. = $1,093; Area = $1,144)
United States
4.1 3.8
Baltimore area
4.1 3.5
Anne Arundel Co., MD
3.5 3.0
Baltimore Co., MD
4.2 3.6
Baltimore city, MD
5.5 4.8
Harford Co., MD
3.9 3.4
0.0
2.0
4.0
6.0
Feb-19 Feb-20 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 2.0
1.5
1.0
0.5
0.0
-0.5 Feb-17
Feb-18
Feb-19
Feb-20
Baltimore area
United States
Source: U.S. BLS, Current Employment Statistics.
Baltimore area employment (number in thousands)
Change from Feb. Feb. 2020 2019 to Feb. 2020
Number Percent
Total nonfarm
1,419.6
11.4
0.8
Mining, logging, and construction
81.0
2.6
3.3
Ma nufa cturi ng
60.2
1.7
2.9
Trade, transportation, and utilities
243.3
0.0
0.0
I nforma ti on
16.8
-0.2
-1.2
Financial activities
77.3
-2.2
-2.8
Professional and business services
248.7
8.6
3.6
Education and health services
282.1
0.7
0.2
Leisure and hospitality
135.9
5.1
3.9
Other services
52.6
1.4
2.7
Government
221.7
-6.3
-2.8
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, February 2020
3.0
2.8
2.5
2.3
2.0 1.8
1.8
1.9
1.5
1.2
1.0
0.5
0.0
All items
Food
Energy
Baltimore area
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 Feb-17
Feb-18
Feb-19
General freight trucking
Hospitals
Computer & electronic product mfg
Source: U.S. BLS, Producer Price Index.
Feb-20
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
$28.49 $25.72
Lawyers
64.39 69.86
Management analysts
45.26 45.94
Accountants and auditors
38.89 38.23
Electricians
26.85 29.02
Billing and posting clerks
20.55 19.53
Retail salespersons
13.73
Source: U.S. BLS, Occupational Employment Statistics, May 2019.
14.12
Employer costs per hour worked for wages and selected employee benefits by geographic division
Private industry, December 2019
South Atlantic
United States
Total compensation
$31.10 $34.72
Wages and salaries
22.33
24.36
Total benefits
8.77
10.37
Paid leave
2.18
2.53
Vacation
1.12
1.30
Supplemental pay
1.03
1.19
Insurance
2.21
2.76
Retirement and savings
0.98
1.22
Legally required benefits
2.36
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.
Over-the-year changes in wages and salaries
12-month percent changes in ECI
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Dec-16
Dec-17
South Atlantic
Source: U.S. BLS, Employment Cost Index.
Dec-18
Dec-19
United States
Mid-Atlantic Information Office ? BLSinfoPhiladelphia@ ? ? 215-597-3282
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