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Baltimore employment trends take new twist in 2017 with diverging, and inconsistent growth

  • ​After steady growth from 2011 through 2016, except for a brief slowdown in early 2014, job gains over the past 9 months have turned inconsistent and uneven. Annual job gains excluding government and health and education turned negative in early 2017 for the first time in Baltimore’s recovery.
  • Overall job gains, while taking wide swings over the months, have rebounded: in July the Baltimore economy gained 20,600 jobs over the past 12-months, which is inline with a 5-year average of 19,200. The spread, however, between overall gains and private sector gains excluding health and education widened to 15,900 jobs in July, which is the biggest difference so far in the economic cycle.
  • Growth in the Baltimore region is falling back on the traditional story of “Ed’s, Med’s and Fed’s” at an increasing rate in 2017. The slowdown in growth outside those sectors suggests sluggish office leasing velocity will likely continue in the coming months.

Source: JLL Research, Bureau of Labor Statistics​




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