Baltimore, Maryland Overview Baltimore, home of the Orioles, Ravens, and the National Aquarium, is Maryland's largest ...
Baltimore, Maryland Overview
Baltimore, home of the Orioles, Ravens, and the National Aquarium, is Maryland's largest city, and the 26th largest metro area in the United States. This historic city on the Chesapeake Bay was founded in 1726 and is the second largest mid Atlantic seaport. Baltimore City has a population of approximately 620,000 and the surrounding metropolitan area has grown to 2.7 million in the past few years after nearly 60 years of population decline.
Historically, Baltimore jobs clustered around industry like auto manufacturing, shipping, and steel processing. Now, however, the city relies primarily on a service economy with a heavy cluster of healthcare, science, engineering, and math professions.
Baltimore has a relatively high cost of living, about 12 percent above the national average. The high median household income (nearly $70,000, about $27,000 more than national figures) compensates for the higher costs. The median home in Baltimore costs $249,100, compared to $181,400 nationally.
Baltimore Job Opportunities
One of the major sources of Baltimore, MD jobs is the Johns Hopkins Hospital and Johns Hopkins University system. In fact, nearly a quarter of the jobs in Baltimore are in medicine and science. Higher education is also a prominent source of employment, with several prestigious colleges and universities located in and around the city, including University of Maryland Baltimore, Loyola University, Notre Dame University Maryland and the Maryland Institute College of Art.
Nonprofits are another major source of jobs in Baltimore, MD; Catholic Relief Services and Lutheran Services in America are based in Baltimore. Other significant employers for Baltimore jobs include Legg Mason, T. Rowe Price, Under Armour, Royal Farms and McCormick & Company. City and state government agencies are major Baltimore employers. The booming tourism business offers opportunities for service and hospitality jobs in the city's bustling Inner Harbor. Education jobs in Towson nearby are also plentiful.
Baltimore Employment Trends
The unemployment rate in Baltimore as of July 2014 was 9.9 percent, significantly higher than Maryland's average of 6.1 percent and the national average of 6 percent. Overall, job growth was just 1 percent compared to the national average of 1.9 percent, but leisure and hospitality jobs grew at a rate of 3.9 percent compared to just 3.0 percent nationally. Information services and manufacturing experienced significant declines in job growth, while education and healthcare jobs grew at 1.9 percent. Professional services andbusiness jobs in Baltimore experienced healthy rates of growth at over 3 percent.