P alm B a y – M elbourne – T itusville
Short Term Outlook for Palm Bay-Melbourne-Titusville, FL March 2022 Forecast 2022:1
2022:2
2022:3
2022:4
2023:1
2023:2
2023:3
2023:4
2024:1
2024:2
2024:3
2024:4
2025:1
Personal Income (Billions $) Total Personal Income Pct Chg Year Ago Wages and Salaries Nonwage Income
34.6 -2.2 16.4 18.2
35.2 4.9 16.8 18.5
35.7 5.6 17.0 18.8
36.0 4.9 17.1 18.9
36.4 5.4 17.2 19.2
36.9 4.7 17.4 19.5
37.4 4.5 17.5 19.8
37.9 5.2 17.8 20.1
38.4 5.5 18.0 20.4
38.9 5.4 18.2 20.7
39.4 5.5 18.4 21.0
39.9 5.3 18.6 21.3
40.5 5.3 18.9 21.6
Real Personal Income (12$) Pct Chg Year Ago
29.8 -7.4
30.2 0.2
30.5 1.7
30.6 2.2
30.8 3.5
31.1 2.9
31.3 2.8
31.6 3.4
31.9 3.6
32.2 3.5
32.4 3.5
32.7 3.3
33.0 3.3
Per Capita Income (Ths) Real Per Capita Income (12$)
55.9 48.2
57.0 48.8
57.7 49.2
58.0 49.3
58.5 49.5
59.1 49.8
59.7 50.1
60.5 50.5
61.3 50.9
61.9 51.1
62.5 51.4
63.2 51.7
64.0 52.1
Average Annual Wage (Ths) Pct Chg Year Ago
67.4 8.2
68.2 5.2
68.6 3.8
68.9 3.1
69.4 2.9
69.7 2.3
70.1 2.3
70.9 2.9
71.7 3.4
72.5 4.0
73.3 4.5
74.1 4.4
75.0 4.5
Establishment Employment (Place of Work, Thousands, SA) Total Employment Pct Chg Year Ago
240.0 5.3
242.9 5.5
244.6 4.7
245.1 3.3
245.6 2.4
246.7 1.6
247.3 1.1
247.8 1.1
248.3 1.1
248.4 0.7
248.5 0.5
248.5 0.3
248.7 0.2
Manufacturing Pct Chg Year Ago
30.4 2.9
30.3 2.4
30.2 -0.5
30.2 -0.9
30.0 -1.4
30.0 -1.0
30.0 -0.7
30.0 -0.6
30.0 0.2
30.0 -0.2
29.9 -0.4
29.8 -0.8
29.7 -1.1
Nonmanufacturing Pct Chg Year Ago
209.6 5.6
212.6 5.9
214.4 5.5
214.9 3.9
215.7 2.9
216.7 1.9
217.3 1.4
217.8 1.3
218.2 1.2
218.5 0.8
218.6 0.6
218.7 0.4
219.0 0.3
Construction & Mining Pct Chg Year Ago
16.8 0.3
17.0 1.4
17.1 1.5
17.2 2.5
17.2 2.1
17.1 0.6
16.9 -1.1
16.8 -2.1
16.7 -2.9
16.6 -3.1
16.4 -3.0
16.3 -3.1
16.1 -3.2
Trade, Trans, & Utilities Pct Chg Year Ago
39.6 4.5
40.1 4.7
39.9 2.8
39.0 -0.9
38.7 -2.3
39.3 -2.1
39.2 -1.8
39.2 0.5
38.9 0.4
38.2 -2.8
38.0 -3.1
37.9 -3.3
37.8 -2.8
Wholesale Trade Retail Trade Trans, Wrhsng, & Util
5.2 29.6 4.7
5.3 30.0 4.8
5.5 29.4 5.0
5.6 28.4 5.0
5.7 27.9 5.1
5.7 28.5 5.1
5.7 28.3 5.1
5.8 28.2 5.2
5.9 27.7 5.3
6.0 26.8 5.3
6.0 26.5 5.4
6.1 26.4 5.5
6.2 26.1 5.5
Information Pct Chg Year Ago
2.0 10.0
1.9 6.7
1.9 1.0
2.0 0.3
1.9 -1.1
2.0 0.6
1.9 0.7
1.9 -1.4
1.9 -0.2
2.0 1.1
2.0 4.0
2.0 5.9
2.1 6.2
Financial Activities Pct Chg Year Ago
9.2 1.2
9.3 3.3
9.4 2.6
9.4 1.7
9.5 3.0
9.5 2.6
9.5 1.5
9.6 1.9
9.6 1.3
9.7 2.3
9.7 2.3
9.8 2.3
9.8 2.0
Prof & Business Services Pct Chg Year Ago
40.1 7.5
40.5 8.4
41.1 6.5
41.3 2.5
41.7 3.9
41.5 2.4
41.5 0.9
41.7 1.0
42.1 1.1
42.4 2.2
42.5 2.4
42.6 2.0
42.7 1.5
Educ & Health Services Pct Chg Year Ago
36.9 4.9
37.2 6.2
37.5 5.0
37.4 2.6
37.5 1.8
37.6 1.2
37.8 0.7
38.0 1.5
38.3 2.1
38.6 2.5
38.8 2.6
38.9 2.4
39.1 2.1
Leisure & Hospitality Pct Chg Year Ago
28.8 17.0
30.0 10.5
30.4 15.4
31.6 18.0
31.9 10.7
32.5 8.3
33.0 8.4
33.0 4.3
32.8 3.0
33.0 1.7
33.0 0.2
33.0 0.1
32.9 0.1
Other Services Pct Chg Year Ago
8.7 8.5
8.8 7.2
9.0 8.5
9.1 8.3
9.1 5.0
9.0 2.1
9.1 0.3
9.1 0.8
9.2 1.4
9.3 3.4
9.4 4.0
9.5 4.4
9.7 4.6
Federal Government Pct Chg Year Ago
6.9 0.9
6.8 1.8
6.8 1.1
6.8 -2.0
6.7 -1.9
6.7 -1.9
6.7 -1.7
6.7 -1.3
6.7 -0.7
6.7 -0.2
6.7 0.2
6.7 0.1
6.7 0.0
20.7 -1.6
20.9 2.6
21.1 2.0
21.2 2.6
21.4 3.5
21.5 3.0
21.7 2.8
21.8 2.9
21.9 2.4
22.0 2.0
22.0 1.4
22.0 0.9
22.1 0.8
Population (Ths) Pct Chg Year Ago
618.0 0.8
618.8 0.6
619.9 0.5
621.2 0.6
622.8 0.8
624.2 0.9
625.5 0.9
626.6 0.9
627.7 0.8
628.9 0.8
630.3 0.8
631.6 0.8
633.0 0.9
Labor Force (Ths) Pct Chg Year Ago
302.0 4.5
305.1 4.4
307.9 3.9
309.9 3.9
311.3 3.1
312.4 2.4
313.3 1.8
313.9 1.3
314.1 0.9
314.3 0.6
314.5 0.4
314.8 0.3
315.2 0.3
4.0
3.9
3.8
3.8
3.8
3.6
3.7
3.6
3.5
3.5
3.5
3.3
3.4
6076.4 5112.9 963.5
5697.0 4748.8 948.2
5504.7 4551.1 953.6
5273.9 4343.8 930.1
5060.5 4106.9 953.6
4724.4 3845.8 878.6
4528.0 3695.1 832.8
4423.4 3615.4 808.0
4359.1 3540.5 818.6
4318.5 3502.9 815.6
4302.6 3492.1 810.4
4284.2 3461.6 822.5
4273.5 3465.9 807.5
State & Local Government Pct Chg Year Ago Other Economic Indicators
Unemployment Rate (%) Total Housing Starts Single-Family Multifamily
Institute for Economic Forecasting
99
