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.
Month over Month Unemployment Change
Year over Year Unemployment Change
Cape Coral-Fort Myers, FL Unemployment October 2022

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
Cape Coral-Fort Myers, FL Unemployment by Industry October 2022

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.