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News release

BALTIMORE, MD

Government Sector Curtails Payroll Growth in Baltimore


BALTIMORE, Sept. 17, 2013 – Payroll growth in the Baltimore Metropolitan Statistical Area has slowed, largely due to the government sector, which posted its largest year-over-year loss since 2004, according to research analysis from Jones Lang LaSalle.

Non-farm payrolls grew at 1.9 percent year-over-year in July, the slowest rate in nearly a year. Professional and business services, along with education and health services, continued to post healthy gains overall, but the government sector lost 6,600 jobs compared to July 2012.

“While payrolls continue to grow at nearly two percent, gains in employment have not translated into traditional office demand," said Michael Singer, a senior member of Jones Lang LaSalle’s brokerage division in Baltimore. "Tenants are focusing on efficiency, driving down the average space occupied by an employee, and controlling their real estate expenses as much as they can.”

About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet and completed $63 billion in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $46.3 billion of real estate assets under management. For further information, visit www.jll.com.