Tag: economy

Eye on the Economy: Maryland and the Regional Economy in August 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. On Friday, the Bureau of Labor Statistics released its preliminary employment estimates for Maryland in August 2017. For the fourth straight month, Maryland’s unemployment rate fell by a tenth of a percent where it now sits at 3.9 percent. Maryland’s labor force grew by roughly 5,000 people...

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Mapping Maryland’s Competitive Advantages: A Cluster Analysis of Baltimore City

In this blog series, we’ve talked a lot about location quotients, using them to help identify what’s really driving Maryland’s economy. Previous posts have looked at QCEW data at the 4-digit NAICS code level. However, focusing on one NAICS code at a time can cause us to miss patterns from interrelated industries. For example, the financial services industry could consist of businesses in several 4-digit NAICS codes, including: 5221 (depository credit intermediation), 5222 (nondepository credit intermediation), 5231 (securities and commodity), and 5259 (investment pools and funds). To get a better picture of what’s happening in the regional economies, it’s...

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Eye on the Economy: Maryland and the Regional Economy in July 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. On Friday, the Bureau of Labor Statistics released its preliminary employment estimates for Maryland in July 2017. For the third straight month, Maryland’s unemployment rate fell by a tenth of a percent where it now sits at 4.0 percent. This is great news,...

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Eye on the Economy: Maryland and the Regional Economy in June 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. On Friday, the Bureau of Labor Statistics released its preliminary employment estimates for Maryland in June 2017. For the second straight month, Maryland’s unemployment rate fell by a tenth of a percent where it now sits at 4.1 percent. This is great news,...

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Eye on the Economy: Maryland and the Regional Economy in May 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. On Friday, the Bureau of Labor Statistics released its preliminary employment estimates for Maryland in May 2017. Maryland’s unemployment rate fell by a tenth of a percent to 4.2 percent. This is great news as the unemployment rate for the rest of Mid-Atlantic...

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Eye on the Economy: Maryland and the Regional Economy in April 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. Last Friday, the Bureau of Labor Statistics released its preliminary April 2017 employment numbers for Maryland. Maryland’s unemployment rate increased from 4.2 percent in March to 4.3 percent. However, last month the Bureau of Labor Statistics initially projected Maryland’s unemployment rate at 4.3...

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Medical Staffing Shortage: A Case of Supply and Demand

For my first blog post, I thought I would delve into something that is not only relevant to Maryland’s healthcare system and economy, but also significant on a worldwide scale: medical staffing. There is a major global shortage of healthcare workers, and one that will become more severe as the population grows and ages. The World Health Organization has estimated that by 2035 there will be a global deficit of 12.9 million skilled healthcare professionals, compared to a 2013 shortage estimate of 7.2 million. In the U.S., the Census estimates that the number of Americans aged 65 years or...

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Eye on the Economy: Maryland and the Regional Economy in March 2017

The Regional Economic Studies Institute (RESI) at Towson University is the source for the latest data and analysis on Maryland’s economy. Each month, RESI Chief Economist Dr. Daraius Irani provides an analysis of the latest Maryland unemployment numbers. His analysis ensures business leaders have key information needed to determine how Maryland’s economic status impacts their organization. RESI on the Economy is your source for the latest data and analysis of Maryland’s economy and employment numbers. On Friday, the Bureau of Labor Statistics released its preliminary March 2017 employment numbers for Maryland. For the first time since February 2010, Maryland’s...

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Mapping Maryland’s Comparative Advantages: Frederick County

In my last blog post, I talked about Maryland’s advantage compared to other states in the Scientific R&D Services industry and saw how a high location quotient for the industry was correlated with the presence of Maryland’s military installations and federal research facilities. Today, I will focus on Frederick County, the county with the second-highest location quotient for Scientific R&D Services in Maryland. Frederick County is one of the most interesting counties in Maryland. The county is a mix of rural, urban, and suburban jurisdictions—perhaps more than any other county in the state. At the center of Frederick County...

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Mapping Maryland’s Comparative Advantages: Scientific R&D

Maryland and science go hand-in-hand. Maryland’s highly ranked universities like the University of Maryland College Park, the Johns Hopkins University, and Towson University produce valuable research and graduate thousands of STEM graduates each year. Maryland is also home to numerous federal research institutions, such as the National Institutes of Health, NASA’s Goddard Space Flight Center, and the FDA. But how does Maryland’s scientific focus vary across the state? Scientific R&D Across Maryland In our last blog post in this series, we looked at what a location quotient is and how we can use them to find Maryland’s comparative advantages....

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