Overall unemployment rate moved down to 2.7% with the biggest shift in Education & Healthcare, which gained 800 roles, based on the most recently available information published in August 2022.
Total employment in the Palm Bay-Melbourne-Titusville, FL market rose by 1,520 jobs in July and the unemployment rate decreased compared to the prior month by 20 bps to 2.7%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Palm Bay-Melbourne-Titusville, FL unemployment rate is 108 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 7.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 40,100; -100
- Business Services: 39,800; -200
- Education & Healthcare: 36,800; +800
- Manufacturing: 31,000; +200
- Restaurants & Hotels: 29,100; +100
- Government: 27,700; no change
- Construction, Mining: 17,700; +200
- Financial Services: 9,300; no change
- Other Jobs: 9,200; +100
- IT & Development: 2,100; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.