Overall unemployment rate moved down to 2.5% with the biggest shift in Education & Healthcare, which gained 1,000 roles, based on the most recently available information published in November 2022.
Total employment in the Palm Bay-Melbourne-Titusville, FL market rose by 4,029 jobs in September and the unemployment rate decreased compared to the prior month by 20 bps to 2.5%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Palm Bay-Melbourne-Titusville, FL unemployment rate is 82 bps below the national rate which is a positive sign.
- Unemployment in the market is 100 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 9.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Transportation & Utilities: 40,200; +100
- Business Services: 39,400; +100
- Education & Healthcare: 37,500; +1,000
- Manufacturing: 31,500; no change
- Government: 29,400; +400
- Restaurants & Hotels: 29,100; no change
- Construction, Mining: 17,600; +100
- Financial Services: 9,300; no change
- Other Jobs: 9,200; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.