Overall unemployment rate moved down to 2.7% with the biggest shift in Government, which gained 2,700 roles, based on the most recently available information published in September 2022.
Total employment in the Cape Coral-Fort Myers, FL market rose by 2,564 jobs in August and the unemployment rate decreased compared to the prior month by 10 bps to 2.7%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Cape Coral-Fort Myers, FL unemployment rate is 109 bps below the national rate which is a positive sign.
- Unemployment in the market is 160 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 3.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.4% . Key sectors include:
- Transportation & Utilities: 58,500; +1,000
- Government: 44,400; +2,700
- Business Services: 41,300; -1,500
- Restaurants & Hotels: 40,500; +300
- Construction, Mining: 36,300; +600
- Education & Healthcare: 35,800; +1,000
- Financial Services: 16,000; no change
- Other Jobs: 12,300; +100
- Manufacturing: 7,400; no change
- IT & Development: 3,100; no change
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.