Treasure Coast - Wednesday March 13, 2024: The unemployment rate in the CareerSource Research Coast counties of Indian River, Martin, and St. Lucie, was was 3.7 percent in January. This rate was 0.5 percentage point greater than the region’s year ago rate of 3.2 percent.
The labor force was 309,332, up 8,083 (+2.7 percent) over the year. There were 11,409 unemployed residents in the region.
The region’s January 2024 unemployment rate was 0.6 percentage point above the state rate of 3.1 percent.
METRO AREAS
Overall, in January 2024, nonagricultural employment in the CareerSource Research Coast metro areas totaled 233,200 jobs, marking a rise of 5,200 jobs (2.3 percent) compared to the previous year. Industries experiencing job growth included Education and Health Services (+2,200), Government (+900), Professional and Business Services (+900), Mining, Logging, and Construction (+800), Trade, Transportation, and Utilities (+500), Financial Activities (+100), and Leisure and Hospitality (+100 ). Conversely, job losses were observed in Other Services (-200) and Information (-100). The Manufacturing sector remained stable with no net change in jobs over the year.
Port St. Lucie: In January 2024, nonagricultural employment in the Port St. Lucie Metropolitan Statistical Area (MSA) reached 174,100 jobs, marking an increase of 4,600 jobs (2.7 %) compared to the previous year. Notably, several industries in the metro area experienced faster growth rates compared to statewide averages, including Education and Health Services (+5.2 %), Mining, Logging, and Construction (+5.0 %), Professional and Business Services (+3.5 %), Government (+3.5 %), and Financial Activities (+1.6 %). The Port St. Lucie MSA ranked third in terms of annual job growth rate among all metro areas in the state within the Professional and Business Services sector (+3.5 %). Industries gaining jobs over the year included Education and Health Services (+1,600 ), Trade, Transportation, and Utilities (+800), Professional and Business Services (+800 ), Mining, Logging, and Construction (+700), Government (+700), Financial Activities (+100), and Leisure and Hospitality (+100). Conversely, job losses were observed in the Information (-100 ) and Other Services (-100) sectors, while the Manufacturing industry remained stable with no net change in jobs over the year.
Sebastian-Vero Beach: In January 2024, nonagricultural employment in the Sebastian-Vero Beach Metropolitan Statistical Area (MSA) reached 59,100 jobs, reflecting an increase of 600 jobs (1.0 %) compared to the previous year. Notably, several industries in the metro area demonstrated faster growth rates compared to statewide averages, including Education and Health Services (+5.4 %), Government (+3.9 %), and Professional and Business Services (+1.4 %). Industries gaining jobs over the year included Education and Health Services (+600), Government (+200), Mining, Logging, and Construction (+100), and Professional and Business Services (+100). Conversely, job losses were noted in the Trade, Transportation, and Utilities (-300) and Other Services (-100) sectors. The Financial Activities, Information, Leisure and Hospitality, and Manufacturing industries remained stable with no net change in jobs over the year.
