How Maryland's Job Market Has Fared Since Trump Was Elected

Special Report

Published: January 3, 2024 10:45 am

Last Updated: January 4, 2024 3:44 pm

In an era of economic uncertainty, the U.S. job market remains resilient. After falling to 3.7% in November 2023, the national unemployment rate has been below 4% for 22 consecutive months, the longest streak in over 50 years.

Of course, if history is any guide, much of the economy is subject to boom and bust cycles — and the job market is no exception. In the last seven years — a period that spanned three presidential administrations and included a global pandemic — the average annual unemployment rate in the U.S. has fluctuated between 3.6% and 8.1%, according to the Bureau of Labor Statistics.

These same cyclical patterns are also evident in Maryland, where the job market is supported largely by the professional and scientific and public administration industries. The annual unemployment rate in the state was 3.2% in 2022, a multi-decade low. However, conditions for job seekers have not always been so favorable.

According to BLS data going back to 2016, the year Donald Trump was elected president, the annual jobless rate has been as high as 6.8% in Maryland.

This is how Maryland’s job market has changed since 2016.

2016: 4.5% unemployment

Avg. unemployment rate: 4.5% (4.9% nationwide)
Labor force participation rate: 66.9% (62.8% nationwide)
Unemployed population in Maryland: 135,091

2017: 4.2% unemployment

Avg. unemployment rate: 4.2% (4.4% nationwide)
Labor force participation rate: 67.6% (62.9% nationwide)
Unemployed population in Maryland: 129,316

2018: 3.9% unemployment

Avg. unemployment rate: 3.9% (3.9% nationwide)
Labor force participation rate: 67.8% (62.9% nationwide)
Unemployed population in Maryland: 124,150

2019: 3.6% unemployment

Avg. unemployment rate: 3.6% (3.7% nationwide)
Labor force participation rate: 68.8% (63.1% nationwide)
Unemployed population in Maryland: 113,048

2020: 6.8% unemployment

Avg. unemployment rate: 6.8% (8.1% nationwide)
Labor force participation rate: 66.5% (61.7% nationwide)
Unemployed population in Maryland: 210,055

2021: 5.8% unemployment

Avg. unemployment rate: 5.8% (5.3% nationwide)
Labor force participation rate: 65.0% (61.7% nationwide)
Unemployed population in Maryland: 168,222

2022: 3.2% unemployment

Avg. unemployment rate: 3.2% (3.6% nationwide)
Labor force participation rate: 64.9% (62.2% nationwide)
Unemployed population in Maryland: 102,813

Year	Maryland unemployment rate (%)	U.S. unemployment rate (%)	Unemployed population in Maryland
2016	4.5	4.9	135,091
2017	4.2	4.4	129,316
2018	3.9	3.9	124,150
2019	3.6	3.7	113,048
2020	6.8	8.1	210,055
2021	5.8	5.3	168,222
2022	3.2	3.6	102,813

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