Overall unemployment rate moved down to 2.2% with the biggest shift in Transportation & Utilities, which lost 700 roles, based on the most recently available information published in June 2022.
Total employment in the Palm Bay-Melbourne-Titusville, FL market rose by 413 jobs in April and the unemployment rate decreased compared to the prior month by 30 bps to 2.2%. The national unemployment rate decreased by 42 bps over the same time to 3.3%.
- Palm Bay-Melbourne-Titusville, FL unemployment rate is 114 bps below the national rate which is a positive sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 14.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 40,000; -700
- Business Services: 39,100; no change
- Education & Healthcare: 36,700; +200
- Manufacturing: 30,200; +100
- Government: 29,100; +100
- Restaurants & Hotels: 28,700; no change
- Construction, Mining: 17,000; -300
- Financial Services: 9,300; +100
- Other Jobs: 8,900; +100
- IT & Development: 2,100; no change
Data is based on the most recent 12 months available, through April 2022 (Data published June 2022 and reports created on June 1, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.