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M A R C H   31, .2 0 1 1

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Governor O'Malley speaks at the Western Maryland Jobs Forum.
MD Student Support Increases; Bucks Natíl Trends

Maryland state and local support per full-time equivalent student increased 5.4% over the last five years while the U.S. declined by 3% per student according to a State Higher Education Executive Officers study. Public higher education enrollment increased 18.8% in Maryland and 14.9% across the U.S. over the past five years. While hosting a recent Western MD jobs forum, Gov. O'Malley spoke to 150 attendees about the importance of partnering with local colleges and universities to meet workforce demands. READ MORE.

 

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Still Time Left to Support InvestMaryland
Thousands of stakeholders await the House and Senate vote on the InvestMaryland bill (SB 180/HB173), while legislators work towards a consensus on bill amendments. The highly anticipated vote on the Governor’s initiative to fuel investment is expected in the coming week bringing an opportunity for growth and new job creation for our innovation economy. Stakeholders and voters still have time to express support by clicking here or calling or visiting their legislator. Call to action video.

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Gallup Finds State Job Market 6th Best
Gallup released its 2010 Job Creation Index and Economic Confidence Index showing Maryland remains one of the top ten states for economic well-being. In 2010, 34.3% of employed Marylanders said their employers were expanding their workforce, the third highest positive response among states. Conversely, 19% said their employers were shedding payrolls. Based on these results, Maryland was tied for sixth best among states in job creation [Gallup Table]. While no state exhibited strong economic confidence in 2010, confidence was highest in Maryland, D.C., Hawaii, and Iowa.

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MD Expected to Grow 13,000 Addíl Green Jobs
Last summer, Maryland businesses participated in a green workforce survey sponsored by DLLR and the Mid Atlantic Regional Collaborative. Preliminary results show green jobs represent 4.8% of the Maryland workforce, 3.4% of Virginia jobs and 2% of D.C. jobs. Green jobs in the region are expected to grow by 12% in the next two years, meaning nearly 13,000 additional jobs in Maryland. The largest number of jobs is in energy efficiency and energy conservation (30%) followed by recycling and waste reduction (23%). Complete results.

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Baltimore, D.C. Quickly Recovering from Recession
Baltimore was one of only 10 metropolitan areas to regain more than a quarter of the jobs lost during the recession and D.C. was one of four cities to regain more than half the jobs they lost, according to the Brookings Institution’s MetroMonitor series which tracks economic recession and recovery. The report shows widespread and steady growth in economic output but continued sluggish job growth. Employment rebounded from its low point in 67 of the 100 largest metropolitan areas by the 3Q of 2010, but none made a complete recovery.

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Maryland Adds Jobs Three Times Faster than Nation
Maryland added 8,100 jobs in February (seasonally adjusted), for a 0.3% monthly growth rate, 12th best among states [Figure 1] and three times faster than the nation. The state unemployment rate also edged down from 7.2% to 7.1% during the month, reflecting 4,900 fewer unemployed Marylanders. Job gains during the month [Table 1] included 3,400 local government jobs for a 1.4% growth rate, tied for best in the nation; and 4,600 arts, entertainment & recreation jobs, for a 4.6% monthly rate, 2nd best among states.

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222,000 U.S. Private Jobs Added in February
February and March brought increasing signs that the U.S. economic recovery continues to strengthen, including faster economic growth during 2010’s 4Q than previously thought. Stronger growth estimates for business inventories and consumer spending pushed up 4Q real GDP annualized growth from 2.8% to 3.1%. The U.S. added 222,000 private sector jobs, offset by a loss of 30,000 government jobs. The private sector job gain was over twice the average private sector job gain from the previous year. In another positive sign, the four-week moving average for jobless benefits in late March fell to its lowest level in over 2-1/2 years. READ MORE.

Economic Pulse is published by the Maryland Department of Business and Economic Development. For a complete archive, visit our Publications page.