Overall unemployment rate moved up to 2.1% with the biggest shift in Restaurants & Hotels, which lost 1,900 roles, based on the most recently available information published in June 2022.
Total employment in the Naples-Immokalee-Marco Island, FL market rose by 43 jobs in May and the unemployment rate increased compared to the prior month by 20 bps to 2.1%. The national unemployment rate increased by 4 bps over the same time to 3.4%.
- Naples-Immokalee-Marco Island, FL unemployment rate is 128 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in May versus prior month by -1.2% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.7%. Key sectors include:
- Transportation & Utilities: 29,600; +100
- Restaurants & Hotels: 29,400; -1,900
- Education & Healthcare: 24,400; no change
- Business Services: 19,800; +300
- Construction, Mining: 19,300; +300
- Government: 13,400; no change
- Financial Services: 9,500; no change
- Other Jobs: 9,300; -100
- Manufacturing: 5,400; +100
- IT & Development: 1,300; no change
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.