Cape Coral-Fort Myers and Naples-Immokalee-Marco Island lead Southwest Florida job growth
Posted on: September 17, 2024
As featured in WGCU, written by WGCU Staff
Two Southwest Florida metropolitan areas — Cape Coral-Fort Myers and Naples-Immokalee-Marco Island – tied for the region’s lead in job growth for the 12 months ending in January.
Both areas reported 3.2 percent growth in total non-farm employment, with 9,600 and 5,400 jobs respectively. That’s compared to the overall state growth rate of 2.7 percent.
The North Port-Sarasota-Bradenton Metro Area reported a 2.9 percent growth rate with 9,800 jobs and the Tampa-St. Petersburg-Clearwater Metro Area submitted a 2.4 percent growth rate with 35,700 jobs in that period.
In the bottom of the region’s metro areas was Punta Gorda, with total nonfarm employment there increasing by just 1.6 percent and 900 jobs.
In specific sector comparisons, Tampa-St. Petersburg-Clearwater topped the Southwest Florida area in leisure and hospitality and construction, with a gain of about 1,100 jobs (3 percent change) and 2,700 jobs (3.3 percent change) respectively from the previous 12 months ending in January. Overall, this area employed168,900 employed in leisure and hospitality and 93,000 in construction.
In leisure and hospitality, Cape Coral-Fort Myers reported a 3.2 percent rise, Naples-Immokalee-Marco Island a 2.9 percent increase and North Port-Sarasota-Bradenton a 2.1 percent boost over the period. Only Punta Gorda reported a drop with a negative 2.5 percent change.
The leisure and hospitality numbers reflect an employment level of 41,700 in Cape Coral-Fort Myers, 32,000 in Naples-Immokalee-Marco Island and 50,200 in North Port-Sarasota-Bradenton. Punta Gorda has 7,800 employees in this sector.
Cape Coral-Fort Myers gained about 3,500 jobs in the mining, logging and construction sector over the 12 months ending in January – a nine percent rise. As of January 2024 there were 42,200 employed in mining, logging and construction in this metro area.
The real estate and rental and leasing sector in Tampa-St. Petersburg-Clearwater, gained about 1,100 jobs over the 12 months ending in Jan 2024 — equivalent to an increase of 3.5 percent. The total number of people employed in the real estate and rental and leasing sector in Tampa-St. Petersburg-Clearwater, FL as of Jan 2024 was 32,100.
Statewide growth
On a statewide level, total nonfarm employment in Florida grew by 2.7 percent over the 12 months ending in Jan 2024. That’s higher than the nationwide number, which grew by 1.8 percent. Florida ranks 4th in the nation for job growth over those 12 months.
Top-ranking sectors (fastest growing)
Florida ranked first in the U.S. in the job growth rate in the retail trade sector over the 12 months ending in Jan 2024. Employment in the sector grew by 3.1 percent –a gain of about 35,000 employees. Nationally, the sector was up 0.6 percent over those 12 months.
Florida ranked 2nd among U.S. states in the job growth rate in the Non-durable goods sector over the 12 months ending in Jan 2024, according to the federal Bureau of Labor Statistics. Employment in the sector grew by 4.8 percent – that’s a gain of about 6,300 employees. Nationally, the sector was down 0.9 percent over those 12 months.
Florida ranked 4th among U.S. states in the job growth rate in the Manufacturing sector over the 12 months ending in Jan 2024, according to the federal Bureau of Labor Statistics. Employment in the sector grew by 2.6 percent – that’s a gain of about 10,900 employees. Nationally, the sector was up 0.2 percent over those 12 months.
Florida ranked 4th among U.S. states in the job growth rate in the Wholesale trade sector over the 12 months ending in Jan 2024, according to the federal Bureau of Labor Statistics. Employment in the sector grew by 3.8 percent – that’s a gain of about 14,500 employees. Nationally, the sector was up 1.3 percent over those 12 months.
Statewide sectors of interest
Florida’s Leisure and hospitality sector gained about 20,800 jobs from Oct 2023 to Jan 2024. That’s equivalent to a rise of 1.6 percent. Looking back further, employment in the sector grew by 2.8 percent over the 12 months ending in Jan 2024. Nationally, the sector was up 2.9 percent over that time.
Florida’s Health care and social assistance sector gained about 23,900 jobs from Oct 2023 to Jan 2024. That’s equivalent to a rise of 1.9 percent. Looking back further, employment in the sector grew by 5.1 percent over the 12 months ending in Jan 2024. Nationally, the sector was up 4.6 percent over that time.
The information in this report was based on research provided by APM Research Lab and Marketplace and data from the Bureau of Labor Statistics.
