Overall unemployment rate moved down to 2.8% with the biggest shift in Restaurants & Hotels, which lost 1,900 roles, based on the most recently available information published in August 2022.
Total employment in the Cape Coral-Fort Myers, FL market rose by 139 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 2.8%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Cape Coral-Fort Myers, FL unemployment rate is 98 bps below the national rate which is a positive sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in July versus prior month by 5.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Transportation & Utilities: 57,400; -600
- Business Services: 42,900; +1,300
- Government: 41,700; +300
- Restaurants & Hotels: 40,100; -1,900
- Construction, Mining: 35,800; +200
- Education & Healthcare: 35,000; +300
- Financial Services: 16,000; +100
- Other Jobs: 12,200; no change
- Manufacturing: 7,400; no change
- IT & Development: 3,100; no change
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.