Overall unemployment rate moved down to 4.6% with the biggest shift in Business Services, which lost 1,000 roles, based on the most recently available information published in March 2021.
Total employment in the Cape Coral-Fort Myers, FL market rose by 4,025 jobs in January and the unemployment rate decreased compared to the prior month by 50 bps to 4.6%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Cape Coral-Fort Myers, FL unemployment rate is 221 bps below the national rate which is a positive sign.
- Unemployment in the market is 150 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) declined in January versus prior month by -1.5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Transportation & Utilities: 54,200; -600
- Government: 42,600; -500
- Restaurants & Hotels: 37,100; +500
- Business Services: 37,000; -1,000
- Construction, Mining: 34,000; -200
- Education & Healthcare: 31,600; +500
- Financial Services: 13,300; no change
- Other Jobs: 10,900; no change
- Manufacturing: 6,300; -300
- IT & Development: 2,600; no change
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.