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  A U G U S T   2 5,  2 0 1 1
Economic Pulse - An Overview of Maryland's Economic Indicators

Jobs
MD gains 10,400 private sector jobs
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Rankings
2nd with $13.3B in R&D federal obligations
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Sectors
Information sector adds 1,200 jobs
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Sector Snapshot: Information Services
The information services sector has been one of Maryland’s brightest employment stories this year, adding 1,200 jobs for a 2.8% growth rate—seventh fastest in the country. In contrast, national information services employment has fallen by 0.4%. Maryland is one of only 20 states to add jobs in this sector in 2011. This key sector includes industries such as wireless and wired telecommunications, newspapers and periodicals publishing, data processing, film, video and sound recording, broadcasting and cable television [Figure 2].

Information services accounts for a relatively small share of state employment. In 2010, it averaged about 47,600 or 2% of the state’s nonfarm payroll jobs and about $3.3 billion or 2.5% of Maryland wages and salaries. Information services wages average about one-third higher than the statewide average. In Maryland, the wired telecommunications industry accounts for the largest share of information services.

This year’s growth is part of a recent trend, as Maryland information services employment averaged 3% higher in 2010 than in 2009. Over the longer term, this industry shed 11% of its jobs during 2002-2010. This decline was mostly led by declining newspapers and publications employment.

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Featured Event

Global Access Exporter Forum
Sept. 12 | World Trade Center, Baltimore

Learn how to increase your company's foreign sales at this free event featuring Gov. O'Malley and Ex-Im Bank President and Chairman Fred P. Hochberg. Hosted by the State, Ex-Im Bank and the World Trade Center Institute, the forum will feature a panel discussion with successful small biz exporters and one-on-one counseling sessions with federal representatives. Learn more.

Secondary event
Maryland Hispanic Business Conference
Sept. 6 | Bethesda North Marriott Hotel & Conference Center
This VIP dinner will honor top 2011 global business country and company connections, provide elite connections between the region’s key decision makers, high level executives, ambassadors and senior embassy representatives. Learn more.
Secondary event
Economic Outlook Conference
Nov. 9 | Towson University

Hear the economic forecast for the region presented by Towson University’s Dr. Daraius Irani including discussion on the impact of the 2010 Census on Maryland's economy. Learn more.
Tip of the month
Bonus Bulletins
+ Read and subscribe to our MDbiz Media blog
+ Maryland job creation now outpacing Virginia, North Carolina
+ Maryland banks generate $44M profit in first half of 2011
+ Looking 'beyond BRAC' at Fort Meade
+ Inc. 500 lists 17 Maryland companies among fastest-growing

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