Annapolis, Md. - A new report issued by the Maryland Democratic Party indicates that Maryland has experienced slow job growth and wage stagnation under Governor Larry Hogan's watch.
A review of independent economic data from the federal Bureau of Labor Statistics shows that Maryland has underperformed both neighboring Virginia and the nation as a whole in job creation and wage growth since Hogan took office in January 2015.
"While Larry Hogan touts so-called 'economic success,' the reality is that Marylanders have been stuck with less money in their pockets and stagnating job growth under his watch," said Maryland Democratic Party chair Kathleen Matthews. "Maryland's economy is falling behind its neighbors and the nation as a whole because of Governor Hogan's failure to move the state's economy forward."
Shockingly, over the course of Hogan’s tenure, the average Marylander is earning $1.14 less an hour compared to before he took office, resulting in a pay cut that has taken $610.83 cents out of their pocket. Meanwhile, the average Virginian has gotten a pay raise of $1.05 an hour and seen their take home pay rise by $3,100.72.
Key takeaways from the report:
During Larry Hogan’s tenure as governor, Maryland private sector jobs have grown at a rate roughly one quarter slower than such jobs in Virginia, and nearly 20% slower than they have nationally.
- Maryland has created jobs at a rate of 3.56%, compared to 4.14% nationally and 4.08% in Virginia.
- Maryland has created private sector jobs at a rate of 3.9%, compared to 4.59% nationally and 4.87% in Virginia.
Marylanders are earning less money under Larry Hogan than they did before he took office, while Virginians and Americans are much better off.
Maryland has entered a pronounced job stagnation since the swearing-in of President Donald Trump last January.
A copy of the report is available here.