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Comptroller Releases State of the Economy Report

January 4th, 2024 by WCBC Radio

A first of its kind report from Maryland Comptroller Brooke Lierman shows an economy that needs growth to catch up with neighboring states.  Key findings in the State of the Economy Report show the state trails surrounding states in economic growth and personal income. Private sector job growth is only 1% higher than the end of 2016 compared to 5.3% in Virginia, and the state is experiencing a labor shortage that has not rebounded since the pandemic. Lierman’s report also shows that Maryland’s population decreased for the first time since World War II, possibly due to increasing housing costs and affordability.