Overall unemployment rate moved up to 3.9% with the biggest shift in Transportation & Utilities, which lost 300 roles, based on the most recently available information published in March 2022.
Total employment in the Sebastian-Vero Beach, FL market declined by 2,068 jobs in January and the unemployment rate increased compared to the prior month by 20 bps to 3.9%. The national unemployment rate increased by 74 bps over the same time to 4.4%.
- Sebastian-Vero Beach, FL unemployment rate is 53 bps below the national rate which is a positive sign.
- Unemployment in the market is 80 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 1.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.1%. Key sectors include:
- Transportation & Utilities: 11,100; -300
- Education & Healthcare: 10,800; no change
- Restaurants & Hotels: 8,000; -100
- Business Services: 6,600; -100
- Government: 5,200; no change
- Construction, Mining: 4,400; -100
- Financial Services: 3,000; no change
- Other Jobs: 3,000; no change
- Manufacturing: 2,200; no change
- IT & Development: 400; no change
Data is based on the most recent 12 months available, through January 2022 (Data published March 2022 and reports created on March 18, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.