Report: Maryland Poised to Lose 115,000 Jobs
Industry-sponsored analysis finds that as a result of the debt-ceiling deal, Defense Department and other jobs are at risk.
Maryland could lose as many as 115,000 jobs next year when automatic federal budget cuts go into effect, according to a study commissioned by the Aerospace Industries Association (AIA). Many of those losses could come from one of Howard County's largest employers -- the John Hopkins University Applied Physics Lab. “The Economic Impact of the Budget Control Act of 2011” predicts that the automatic cuts, known as the “sequestration” mandate, could lead to more than 2 million job losses nationwide. In a bleak introduction on Second to None, an AIA-funded website, the report’s author predicted that the national unemployment rate would rise to 9 percent. Report author Stephen Fuller, an economist at George Mason University, predicted the …
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