Overall unemployment rate moved up to 2.6% with the biggest shift in Restaurants & Hotels, which gained 300 roles, based on the most recently available information published in December 2022.

Total employment in the Palm Bay-Melbourne-Titusville, FL market declined by 2,574 jobs in October and the unemployment rate increased compared to the prior month by 10 bps to 2.6%. The national unemployment rate increased by 8 bps over the same time to 3.4%.

  • Palm Bay-Melbourne-Titusville, FL unemployment rate is 80 bps below the national rate which is a positive sign.
  • Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) grew in October versus prior month by 7.7% and are up 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 October 2022

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

  • Transportation & Utilities: 40,500; +300
  • Business Services: 39,500; -200
  • Education & Healthcare: 37,500; no change
  • Manufacturing: 31,600; +100
  • Government: 29,400; no change
  • Restaurants & Hotels: 29,200; +300
  • Construction, Mining: 17,800; no change
Palm Bay-Melbourne-Titusville, FL Unemployment by Industry October 2022

Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.