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Employment Services 2nd best growth in the country
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Port of Baltimore Cargo Volume Leads Nation
Governor Martin O’Malley announced that the Port of Baltimore saw a 15% increase in cargo volume in 2011, marking the greatest increase by any major U.S. port last year. The Port’s public and private marine terminals saw 37.8 million tons of cargo cross their docks in 2011, with a dollar value of over $51.4 billion; the Port’s highest dollar value ever and a 24% jump from 2010. The Census Bureau reports that 7,175 Maryland exporters accounted for $9.3 billion in exports in 2010.
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Maryland Adds Jobs for the 7th Straight Month
Maryland added 1,500 net new jobs in March (seasonally adjusted), for the seventh straight month of growth. Private job growth continued to exceed the national rate, as the state added private 4,200 jobs for a 0.2% rate, compared to 0.1% for the nation. The unemployment rate ticked upward to 6.6%, despite an increase by 2,000 in the number of persons employed. Over the past year, Maryland added 49,600 jobs, for a 2% growth rate, tied with Colorado for the seventh best growth rate in the country. Maryland job growth has exceeded the national rate of 1.5% since March 2011 (see Table 1). Read more...
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Employment Services Points to Job Growth
Maryland’s employment services industry (ESI) comprises only 2% of nonfarm payroll jobs. However it plays a key role in matching Maryland workers with employers most anxious to increase payrolls. The good news from Maryland’s ESI is that it is growing faster than at any time since the year 2000 (see Figure 2) and has the second best current growth in the country (see Table 2). ESI job growth is considered a good forecaster of overall private job growth, especially over the following four to six months. Read more...
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Baltimore Leads As Robotics Skills Recruiter
More employers are seeking robotics skills across the country as recruiters posted more than 1,800 job ads for robotics skills in March 2012, increasing 44% versus March of 2011. According to WANTED Analytics™, employers in this field are likely to compete heavily to attract talent and experience, as it has a longer time-to-fill than many other jobs. The best places to recruit robotics skills are currently Evansville, IN, Fresno, CA, and Baltimore. The average salary for robotics professionals in Baltimore is $80,000-$91,800/year.
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Small Business Lending Rises in 4th Quarter 2011
Institutions participating in the Small Business Lending Fund significantly increased small business lending in the 4th quarter of 2011 by $1.3 billion over the 3rd quarter—for a total of $4.8 billion over their baseline. A substantial majority of SBLF participants have now increased their small business lending by 10% or more. Maryland participants have increased their small business lending by $230 million, or 28% over the baseline. Community banks, including Eagle Bancorp, Inc., Monument Bank and Tri-County Financial Corporation made $1.2 million in small business loans in the 4th quarter of 2011.
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Maryland Zoo Generates $24M in Annual Spending
An economic impact report recently completed by DBED looked at the Maryland Zoo's operations, capital expenditures and the spending generated by visitors to the Zoo. Together, this spending helps to create and support a total of 334 jobs, which includes 214 paid staff and 120 positions attributed to visitor services and capital improvements. Last calendar year, the Zoo attracted 374,611 visitors – a five-year high –and generated nearly $11 million in total spending. The Zoo also serves as a resource for education,
conservation and recreation.
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