Overall unemployment rate moved down to 2.6% with the biggest shift in Restaurants & Hotels, which lost 1,300 roles, based on the most recently available information published in November 2022.
Total employment in the Cape Coral-Fort Myers, FL market rose by 1,624 jobs in September and the unemployment rate decreased compared to the prior month by 10 bps to 2.6%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Cape Coral-Fort Myers, FL unemployment rate is 72 bps below the national rate which is a positive sign.
- Unemployment in the market is 110 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 6.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Transportation & Utilities: 58,400; +200
- Government: 45,400; +1,000
- Business Services: 41,300; +300
- Restaurants & Hotels: 39,200; -1,300
- Construction, Mining: 35,600; -200
- Education & Healthcare: 35,500; -300
- Financial Services: 16,000; -100
- Other Jobs: 12,100; -100
- Manufacturing: 7,400; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.