Metro area predicted to have the strongest job market in the nation in early 2013
Today, Governor Rick Scott announced that the Cape Coral-Ft. Myers Metropolitan Statistical Area’s (MSA) November 2012 unemployment rate dropped 2.2 percentage points from the November 2011 rate and had the third largest decline of 3.5 percentage points among all metro areas since December 2010.
Governor Scott said, “In communities all throughout Florida, families are finding new job opportunities. Since 2010, the private sector has created more than 200,000 private sector jobs, Florida’s housing market is improving – and unemployment is down. I’m committed to growing more jobs for Florida families, and while our work isn’t finished, we’ll continue working to make Florida the best place in the world to find a job and raise a family.”
Housing starts in the Cape Coral-Ft. Myers metro area were up in October 2012 (the latest available data) both over the month (+20.7 percent) and over the year (+65.1 percent), while foreclosures were down in Lee County in November 2012 both over the month (-9.5 percent) and over the year (-32.0 percent).
The region’s unemployment rate declined from 10.5 percent in November 2011 to 8.3 percent in November 2012, and dropped from 11.8 percent to 8.3 percent since December 2010.
The Manpower Employment Outlook Survey for the first quarter of 2013 indicated that the Cape Coral-Ft. Myers MSA was expected to be the strongest job market in the nation with 27 percent of employers expected to add staff. Manpower’s calculations of a 23 percent net positive hiring outlook was well above the year-ago outlook of 17 percent.
Also in November, Southwest Florida Works along with the state’s other 23 Regional Workforce Boards reported more than 46,000 Floridians were placed in jobs. An individual who receives employment and training assistance through a One-Stop Career Center and finds a job within 180 days is deemed a placement and may be reported by a regional workforce board. Of these individuals, 14,211 previously received Reemployment Assistance. Since January, more than 383,000 Floridians were placed in jobs, with nearly 98,000 former claimants finding employment.
Florida’s seasonally adjusted unemployment rate dropped to 8.1 percent for the month of November, the lowest since November 2008. The November 2012 rate was down 0.4 percentage point from the October rate of 8.5 percent. This was the largest drop in the rate over the month since October 1992, and was the second time it occurred this year. The November 2012 rate was 2.0 percentage points lower than the year-ago rate of 10.1 percent. Private sector job growth over the month jumped to more than 24,000. Since December 2010, the state’s unemployment rate has dropped 3.0 percentage points and 202,500 private sector jobs have been created.
To view the November 2012 monthly employment data, visit: