Overall unemployment rate moved down to 2.8% with the biggest shift in Restaurants & Hotels, which gained 1,200 roles, based on the most recently available information published in April 2023.
Total employment in the Cape Coral-Fort Myers, FL market rose by 2,929 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 2.8%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Cape Coral-Fort Myers, FL unemployment rate is 109 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 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 10.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Transportation & Utilities: 59,600; no change
- Restaurants & Hotels: 47,300; +1,200
- Government: 46,200; +700
- Business Services: 43,200; -300
- Construction, Mining: 38,700; +500
- Education & Healthcare: 36,100; +200
- Financial Services: 15,500; no change
- Other Jobs: 11,700; +100
- Manufacturing: 8,100; +100
- IT & Development: 3,300; no change
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.