BALTIMORE - An analysis of the numbers from the Department of Labor shows the bulk of that net loss in local and state government positions. Professional jobs fell by roughly 2,000.
We met with Dr. Daraius Irani , chief economist at Towson University. He spent August drilling down into the jobs drop-off for insight into the decline.
“I suspect some of this had to do with the state contracts set to go out,” he said. “There were likely cutbacks in budget considerations resulting in some people out of work.
“Also, we’re entering into a phase where budget reauthorizations are taking place, which means some agencies are pulling back to account for uncertainty in spending because of what’s going on,” he added.
Dr. Irani pointed to four criteria for jobs analysis that include what he called: Eds, meds, feds and beds (education, medical, government and tourism). Notably, Dr. Irani pointed to tourism taking a bit of hit.
“Tourism saw some dips, which is a concern, given July is a big tourism month,” he said. “I think some of the factors in the national economy are coming home to roost in Maryland. This recovery, which has be going on since 2009. We’re entering one the longest expansions post war, 60-plus months, out of a recession. Yet it doesn’t feel like a recession.”
Dr. Irani also noted that June’s job numbers adjusted for an additional 5,000 jobs lost. He says his analysis points to the number of high-paying jobs nationally is significantly less than lower-paying or part-time jobs.
The result, he says, is workers are less inclined to enter the job market.
For a closer look at Dr. Daraius Irani’s breakdown of the jobs report, click here .