October 28th, 2013 by WCBC Radio
The federal government shutdown had an adverse effect on the entire United States economy and especially the Maryland/Washington, D.C. area. With 6 percent of all jobs in the state, Maryland’s share of federal employment is higher than most states. Over 80 percent of Maryland jobs are in private sector firms across the state, while state and local government make up the remaining 14 percent of jobs in Maryland. The Maryland Department of Budget and Management estimated that the 16 day loss of income for federal workers in Maryland could represent a reduction in state tax revenues by as much as $51 million or about $5 million in state revenue loss for each day of the shutdown. Maryland Comptroller Peter Franchot says his office is still analyzing the shutdown fall out- but it is clear that it had a tremendous negative impact on the state’s economy…
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