Overall unemployment rate moved down to 2.5% with the biggest shift in Education & Healthcare, which gained 400 roles, based on the most recently available information published in April 2022.
Total employment in the Palm Bay-Melbourne-Titusville, FL market rose by 2,512 jobs in March and the unemployment rate decreased compared to the prior month by 40 bps to 2.5%. The national unemployment rate decreased by 39 bps over the same time to 3.8%.
- Palm Bay-Melbourne-Titusville, FL unemployment rate is 125 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 March versus prior month by 14.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Transportation & Utilities: 40,700; -200
- Business Services: 38,900; -200
- Education & Healthcare: 36,500; +400
- Manufacturing: 30,100; +200
- Government: 29,000; -200
- Restaurants & Hotels: 28,600; +200
- Construction, Mining: 17,300; +200
- Financial Services: 9,200; no change
- Other Jobs: 8,800; +100
- IT & Development: 2,100; no change
Data is based on the most recent 12 months available, through March 2022 (Data published April 2022 and reports created on April 27, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.