Overall unemployment rate moved up to 2.3% with the biggest shift in Manufacturing, which gained 500 roles, based on the most recently available information published in June 2022.

Total employment in the Palm Bay-Melbourne-Titusville, FL market rose by 2,808 jobs in May and the unemployment rate increased compared to the prior month by 10 bps to 2.3%. The national unemployment rate increased by 4 bps over the same time to 3.4%.

  • Palm Bay-Melbourne-Titusville, FL unemployment rate is 108 bps below the national rate which is a positive sign.
  • Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) grew in May versus prior month by 12.1% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
Palm Bay-Melbourne-Titusville, FL Unemployment May 2022

For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:

  • Transportation & Utilities: 40,000; -200
  • Business Services: 38,900; no change
  • Education & Healthcare: 36,600; -100
  • Manufacturing: 30,700; +500
  • Restaurants & Hotels: 29,100; +300
  • Government: 28,900; -200
  • Construction, Mining: 17,500; +400
  • Financial Services: 9,300; no change
  • Other Jobs: 8,800; -100
  • IT & Development: 2,100; no change
Palm Bay-Melbourne-Titusville, FL Unemployment by Industry May 2022

Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.