Overall unemployment rate moved up to 2.4% with the biggest shift in Restaurants & Hotels, which lost 1,200 roles, based on the most recently available information published in June 2022.
Total employment in the Cape Coral-Fort Myers, FL market rose by 1,093 jobs in May and the unemployment rate increased compared to the prior month by 20 bps to 2.4%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Cape Coral-Fort Myers, FL unemployment rate is 98 bps below the national rate which is a positive sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in May versus prior month by 6.1% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.4%. Key sectors include:
- Transportation & Utilities: 57,800; -100
- Government: 44,800; -600
- Restaurants & Hotels: 43,700; -1,200
- Business Services: 41,800; +500
- Construction, Mining: 35,300; +100
- Education & Healthcare: 33,400; -200
- Financial Services: 15,700; +100
- Other Jobs: 11,900; no change
- Manufacturing: 7,300; no change
- IT & Development: 3,100; +100
Data is based on the most recent 12 months available, through May 2022 (Data published June 2022 and reports created on June 29, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.