Southwest Florida is experiencing a strong labor market, with declining unemployment

Southwest Florida is experiencing a strong labor market, with declining unemployment rates across all counties. The region’s seasonally-adjusted unemployment rate fell to 3.4 percent in December 2022, a 0.5 percentage point decrease from November 2022 and 0.6 percentage points lower than December 2021.

Collier County had an unemployment rate of 2.8 percent in December 2022, a decrease of 0.3 percentage points from November 2022 and 0.7 percentage points lower than December 2021.

Lee County had an unemployment rate of 3.6 percent in December 2022, a decrease of 0.6 percentage points from both the prior month and prior year.

Charlotte County also showed a strong labor market, with an unemployment rate of 3.7 percent in December 2022, down 0.4 percentage points from the prior month and 0.7 percentage points below December 2021.

Overall, the declining unemployment rates in Southwest Florida are a positive sign for the region’s economy and labor force. With more people employed and fewer individuals seeking work, businesses and industries in the area are likely to continue to thrive. These trends also bode well for job seekers in the region, as more opportunities become available and competition for available positions decreases.

It is important to note that while the unemployment rate is a good indicator of the strength of the labor market, it is just one of many factors that can impact the local economy. Nevertheless, the current trend in Southwest Florida suggests a healthy and robust labor market.

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