Overall unemployment rate stayed flat at 2.7% with the biggest shift in Government, which gained 1,300 roles, based on the most recently available information published in September 2022.
Total employment in the Palm Bay-Melbourne-Titusville, FL market declined by 186 jobs in August and the unemployment rate stayed flat. The national unemployment rate stayed flat over the same time period at 3.8%.
- Palm Bay-Melbourne-Titusville, FL unemployment rate is 109 bps below the national rate which is a positive sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 6.5% and are up compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 40,300; +100
- Business Services: 39,500; -300
- Education & Healthcare: 36,500; -300
- Manufacturing: 31,500; +400
- Restaurants & Hotels: 29,100; +100
- Government: 29,000; +1,300
- Construction, Mining: 17,500; -100
- Financial Services: 9,300; no change
- Other Jobs: 9,200; +100
- IT & Development: 2,100; no change
Employment Change by Key Sector
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.