Overall unemployment rate moved up to 3.0% with the biggest shift in Transportation & Utilities, which lost 400 roles, based on the most recently available information published in March 2023.
Total employment in the Sebastian-Vero Beach, FL market rose by 125 jobs in January and the unemployment rate increased compared to the prior month by 40 bps to 3.0%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Sebastian-Vero Beach, FL unemployment rate is 86 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 4.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Transportation & Utilities: 11,400; -400
- Education & Healthcare: 11,100; -100
- Restaurants & Hotels: 8,400; no change
- Business Services: 7,300; -100
- Government: 5,100; no change
- Construction, Mining: 4,700; -100
- Financial Services: 3,100; no change
- Other Jobs: 2,900; no change
- Manufacturing: 2,500; -100
- IT & Development: 400; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.