Overall unemployment rate moved down to 2.9% with the biggest shift in Business Services, which gained 1,800 roles, based on the most recently available information published in April 2022.
Total employment in the Cape Coral-Fort Myers, FL market rose by 2,317 jobs in February and the unemployment rate decreased compared to the prior month by 50 bps to 2.9%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Cape Coral-Fort Myers, FL unemployment rate is 124 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 12.7% and are up 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: 58,600; +100
- Government: 45,300; +700
- Restaurants & Hotels: 44,200; +1,000
- Business Services: 42,600; +1,800
- Construction, Mining: 34,100; +100
- Education & Healthcare: 33,000; -200
- Financial Services: 15,000; +400
- Other Jobs: 11,800; +200
- Manufacturing: 7,200; +100
- IT & Development: 3,100; no change
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.