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Suburban Maryland : Office Snapshot - Q4 2013

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Despite sequestration and the government shutdown, the Washington Metropolitan area added 20,000 private sector jobs in 2013. Growth was strongest in the leisure/hospitality sector, followed by the financial activities sector and education/health services.

Unemployment rates in Suburban Maryland have increased since the same time last year, particularly in Prince George’s County, which has increased by nearly one percentage point (pp) to 7.6%. Montgomery County’s rate ticked up from 5.0% to 5.3%. PG County was dealt a blow towards the end of the year when Computer Sciences Corporation (CSC) announced it would vacate its New Carrollton location, which currently houses about 450 employees. It remains unclear whether or not these employees will be relocated to another location in PG, however.

Source : Cushman & Wakefield