Overall unemployment rate moved up to 2.5% with the biggest shift in Business Services, which lost 1,700 roles, based on the most recently available information published in March 2023.
Total employment in the Naples-Immokalee-Marco Island, FL market declined by 906 jobs in January and the unemployment rate increased compared to the prior month by 30 bps to 2.5%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Naples-Immokalee-Marco Island, FL unemployment rate is 136 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in January versus prior month by -0.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.5%. Key sectors include:
- Transportation & Utilities: 31,600; -300
- Restaurants & Hotels: 29,000; +100
- Education & Healthcare: 25,800; -100
- Construction, Mining: 19,600; -400
- Business Services: 19,400; -1,700
- Government: 14,200; +100
- Financial Services: 10,100; -100
- Other Jobs: 9,400; no change
- Manufacturing: 5,500; no change
- IT & Development: 1,300; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.