May 2013

a closer look with daraius

Unemployment rate 6.5% down from 6.6%The Irrevocable Sequestration is Home

Much like the cherry blossoms mark the beginning of spring, so do the employment declines in Maryland from sequestration this year. The beginning of the second quarter is marked with a small downturn in month-over-month employment, according to the latest Monthly Labor Review from the Department of Labor, Licensing and Regulation. Overall, the year-over-year change was still positive and showed some gains for Maryland. Impacts from sequestration could not be isolated during the month-over-month change due to the late start to tourism from an unusually cold April. Industries that previously were expanding, such as Hospitality and Tourism, experienced some decline in April but largely gained year-over-year.


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in the news

spacerShipshape? Port of Baltimore must prove itself the go-to place once canal expands, Baltimore Business Journal, 5/10/2013

“The study assumes Baltimore receives an initial bump in business because it is one of the first East Coast ports ready to handle the larger ships, said Daraius Irani, one of the study’s authors. But a real impact won’t be felt at the port for a number of years, Irani said.”

“It won’t be a sudden overnight change,” he said. “It will be a gradual change as shippers realign their routes.”

Md. employers add 4,700 jobs in March, Labor Dept. says, Baltimore Sun, 4/19/2013

Daraius Irani, director of the Regional Economic Studies Institute at Towson University, wrote in an analysis Friday that the local economy appears "more resilient" than expected — but he added that "the effects from sequestration may lag throughout 2013 and beyond as opposed to being an overnight change."


How will the online sales tax affect Maryland?

The U.S. Senate recently voted to approve the Marketplace Fairness
Act, which will require all online businesses with more than one
million dollars in domestic revenue to collect and remit sales taxes
to the state where the customer resides. The bill still needs to pass
through the U.S. House of Representatives, where proponents of the
bill tout the benefits to smaller brick-and-mortar stores that cannot
compete with online merchants that were not required to collect sales
tax. Opponents point out that businesses with one million dollars in
revenue per year are relatively small and would be hurt by the higher administrative costs. How will this legislation impact Maryland consumers
and what does it mean for the gas tax hike?

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