Overall unemployment rate moved up to 2.9% with the biggest shift in Government, which lost 3,400 roles, based on the most recently available information published in August 2022.
Total employment in the Cape Coral-Fort Myers, FL market declined by 3,815 jobs in June and the unemployment rate increased compared to the prior month by 50 bps to 2.9%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- Cape Coral-Fort Myers, FL unemployment rate is 94 bps below the national rate which is a positive sign.
- Unemployment in the market is 190 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 6.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.7%. Key sectors include:
- Transportation & Utilities: 58,100; +200
- Restaurants & Hotels: 41,900; -1,900
- Government: 41,400; -3,400
- Business Services: 40,600; -1,100
- Construction, Mining: 35,500; +400
- Education & Healthcare: 34,000; no change
- Financial Services: 15,900; +400
- Other Jobs: 12,100; +200
- Manufacturing: 7,400; +100
- IT & Development: 3,100; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.