Overall unemployment rate moved up to 3.0% with the biggest shift in Business Services, which lost 1,900 roles, based on the most recently available information published in March 2023.
Total employment in the Cape Coral-Fort Myers, FL market rose by 3,071 jobs in January and the unemployment rate increased compared to the prior month by 10 bps to 3.0%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Cape Coral-Fort Myers, FL unemployment rate is 86 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 7.9% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.4%. Key sectors include:
- Transportation & Utilities: 59,300; -1,400
- Restaurants & Hotels: 47,100; +800
- Government: 45,400; no change
- Business Services: 43,400; -1,900
- Construction, Mining: 38,000; -800
- Education & Healthcare: 35,500; -900
- Financial Services: 15,500; -200
- Other Jobs: 11,600; no change
- Manufacturing: 8,100; no change
- IT & Development: 3,300; no change
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.