The Frederick County Business Development and Retention Department has just published the September edition of the Frederick County Monthly Business Economic Indicators.
Highlights:
- Frederick County's Unemployment rate continues to stay below the State and National averages.
- For August 2014, the unemployment rate was 5.6% in Frederick County compared to 6.6% in Maryland and 6.1% nationwide.
- The Maryland Department of Labor, Licensing and Regulation recently published 1st quarter 2014 employment and wage information and employment has grown 5% over the past five years.
- Industries that saw the most employment growth over the past 5 years were: Leisure and Hospitality (25%); Construction (23.4%) and Natural Resources and Mining (9.3%).
- Industries that added the highest number of new establishments were: Natural Resources and Mining (14.8%); Financial Activities (13.2%) and Leisure and Hospitality (11.3%).
- The average weekly wage per worker has grown 13% over the last 5 years to $964 per week.
- The residential housing market has seen a 23% increase in the number of housing units sold in September 2014 compared to this time last year.
- There are also 29% more homes on the market.
- Commercial and Industrial permits remain steady compared to this time last year (718 year to date compared to 719 year to date in 2013).
- September saw a large capital investment in commercial and industrial costs with almost $13 million, higher than the 5 year average of $11 million.
To download a PDF of this publication, please click here.
