How Quickly Will Maryland Add Jobs to the Economy?

The good news: economists say Maryland will add jobs in 2014. The bad news: they disagree on the pace of job growth.

How many jobs are Maryland employers likely to add in 2014? File | Patch
How many jobs are Maryland employers likely to add in 2014? File | Patch

Experts are split on whether the rate of job creation in Maryland in 2014 will increase enough to lower the state’s unemployment rate to 6 percent.

Moody's Analytics and Towson University's Regional Economic Studies Institute are both predicting about 40,000 positions added in the state, reports the Baltimore Sun. Maryland employers added about 34,000 jobs in the 12 months ending in November.

But, expert with Anirban Basu ofSage Policy Group in Baltimore, predicts the rate of job growth will be slower this year, adding 20,000 to 25,000 openings.

Basu told the newspaper he's concerned that some national economic drivers won't help Maryland much, including increasing energy production, industrial production and farm production.

If Moody’s Analytics guesses correctly, the state's unemployment rate will drop from 6.4 percent to about 6 percent by the end of the year and 5.2 percent by the end of 2015, the Sun says.

Read the full story on the Baltimore Sun website.


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