Overall unemployment rate moved down to 2.4% with the biggest shift in Business Services, which lost 1,100 roles, based on the most recently available information published in June 2023.
Total employment in the Cape Coral-Fort Myers, FL market declined by 716 jobs in April and the unemployment rate decreased compared to the prior month by 40 bps to 2.4%. The national unemployment rate decreased by 53 bps over the same time to 3.1%.
- Cape Coral-Fort Myers, FL unemployment rate is 70 bps below the national rate which is a positive sign.
- Unemployment in the market is 20 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in April versus prior month by 8.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.5%. Key sectors include:
- Transportation & Utilities: 59,200; no change
- Restaurants & Hotels: 48,700; -100
- Government: 46,400; +200
- Business Services: 44,400; -1,100
- Construction, Mining: 37,800; -500
- Education & Healthcare: 36,100; -200
- Financial Services: 15,700; +100
- Other Jobs: 11,600; -100
- Manufacturing: 8,100; no change
- IT & Development: 3,300; no change
Data is based on the most recent 12 months available, through April 2023 (Data published June 2023 and reports created on June 8,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.