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October 2013

a closer look with daraius

placeholder imageNational Report—The Long October Lunch

With the government out to a long lunch, places such as Maryland, Virginia, and the District of Columbia felt the sting; with the majority of furloughed federal employees not returning to work until October 17. However, if there was any worry about the shutdown before October 1, private nonfarm industries had the best poker face among anyone. This month RESI reviews its forecast along with the Bureau of Labor Statistic’s national employment data release for September 2013. Maryland’s employment numbers will not be released until November 22, but what do the national estimates potentially indicate for the regional economy as the end of 2013 draws closer?

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in the news

spacerREMI Monthly Policy Luncheon
10/30/2013

Susan Steward, an economist with the Regional Economic Studies Institute (RESI) of Towson University, will join REMI for a presentation on the dynamic modeling approach to analyzing climate change initiatives. The luncheon will include an overview of the economic impacts of Maryland's Greenhouse Gas Reduction Act (GGRA).

Maryland Braces for Federal Government Shutdown, Delmarva Public Radio,
9/30/2013

Daraius Irani, executive director of Towson University’s Regional Economic and Studies Institute, told Capital News Service that “a shutdown could lead to lost income for Maryland’s 90-thousand federal workers and 180-thousand federal contractors.”

Federal Government Shutdown Would Hurt Workers, Maryland Economy, Patch, 9/30/2013

“Irani found that depending on how many of those workers are furloughed, the total loss of income per day to families in Maryland would fall between $18 million and $68 million. That is about 3 to 7 percent of Maryland’s total daily income.”

Federal Workers Stretch Last Paycheck Until Shutdown Ends, Bloomberg, 9/30/2013

“It’s now really going to be hitting home,” said Daraius Irani, the executive director of the Regional Economic Studies Institute at Towson University outside Baltimore, Maryland. “The longer this goes on, the worse it is going to be for workers -- and for our economy.”

forecast

Margulies Political Cartoon

EOC Conference Preparation

As is customary this time of the year, RESI is busy preparing for our annual Economic Outlook Conference. This year’s conference will be focused on the impact of the film industry in Maryland. The agenda will feature our Maryland economic forecast presentation, a discussion of the impacts of The Film Production Employment Act of 2011, and a panel discussion on the return on investment of the film industry. We are lucky at RESI to have the support of a fantastic group of students that are integral in helping us prepare for the conference. One of our student interns, Molly Rozran, recently took time out of her day to discuss her involvement in the project and her thoughts on the theme of the 2013 Economic Outlook Conference.

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