Frederick, Maryland Overview Although Frederick, Maryland has a relatively small population under 100,000, it is the ...
Frederick, Maryland Overview
Although Frederick, Maryland has a relatively small population under 100,000, it is the county seat of Maryland's largest county. It's also a part of the metropolitan statistical area that includes Washington, D.C., Baltimore, and northern Virginia. Many Frederick, MD jobs are based in the city because of its proximity to government employers, including Fort Detrick, a U.S. Army base that researches communications and bioscience.
Those considering Frederick jobs should know that the cost of living is close to the national average. It is, however, considerably more affordable than Maryland's average city. The cost of living index for Frederick is 97, 3 percent lower than the nation's average or 100, and it is 21 percent lower than the state's average, which sits at 118.
When compared to the national average, Frederick looks like the typical town. Utilities are 6 percent cheaper than the national average. Housing is just 2 percent cheaper than the nation. Frederick looks affordable compared to Maryland's average, though. For example, Maryland's housing index is 173, making Frederick 75 percent cheaper than the state's average.
Frederick Job Opportunities
Frederick has a diverse economy that supports several important industries. Frederick jobs include work at a number of city's largest employers, including:
- Fort Detrick
- Frederick County Board of Education
- Frederick Memorial Healthcare System
- Wells Fargo Home Mortgage
- Leidos Biomedical Research
- United Health Care
- State Farm Insurance
While many people in Frederick have government jobs, Riverside Research Park has attracted numerous biomedical jobs in Frederick.
Frederick Employment Trends
Frederick had an extremely low unemployment rate in 2007 – only 2.6 percent. After the recession, the rate quickly grew to 8.1 percent in February 2010. Since then, the unemployment rate has fallen, but still remains high for the area. In April 2014, the city had a 4.9 percent unemployment rate. In July of the same year, the rate was 6.1 percent, just slightly higher than the national rate of about 5.5 percent.
Analysts show that job growth has recently declined by nearly .5 percent. The upcoming decade, however, should bring positive growth over 34 percent, which is less than 2 percent slower than the nation's expected job growth. Most of the city's growth will likely occur in the management, finance, administrative support, and computer science industries. Many of those jobs support industries that are crucial to the success of government and military facilities in the region.
Since jobs in Frederick, MD aren't expected to grow as quickly as the rest of the country, residents may want to search for jobs in Boonsboro and other communities in the Washington, D.C. area.