Overall unemployment rate moved up to 3.9% with the biggest shift in Restaurants & Hotels, which gained 1,300 roles, based on the most recently available information published in December 2022.
Total employment in the Cape Coral-Fort Myers, FL market declined by 906 jobs in October and the unemployment rate increased compared to the prior month by 130 bps to 3.9%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Cape Coral-Fort Myers, FL unemployment rate is 50 bps above the national rate which is a negative sign.
- Unemployment in the market is 50 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 8.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.1% . Key sectors include:
- Transportation & Utilities: 58,800; +400
- Government: 45,800; +400
- Business Services: 42,200; -100
- Restaurants & Hotels: 41,200; +1,300
- Education & Healthcare: 36,000; +1,200
- Construction, Mining: 35,400; -300
- Financial Services: 16,100; +100
- Other Jobs: 12,200; +100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.