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Cape Coral - Fort Myers #1 in Nation For Projected Job Increase

12/11/2012

The data on Cape Coral's housing market has been good and now comes the news that the projected jobs increase in Cape Coral - Fort Myers will be 23%, good for number 1 in the nation.

The article was authored by Susan Adams of Forbes.com. Here are some briefs from the column:

Though Florida is still recovering from the subprime mortgage crisis of 2008 and the state unemployment rate sits at 8.5%, almost a point higher than the national rate of 7.7%, some pockets of the state are experiencing strong job growth. In fact employers in the Cape Coral-Fort Myers area are projecting a net job increase of 23%, the highest in the nation, according to the latest employment outlook survey by the giant employment services firm, ManpowerGroup. One other Florida metropolitan area, Lakeland-Winter Haven, also landed in the top 15 cities for job growth, according to Manpower.To gauge companies’ hiring plans, Manpower surveyed more than 18,000 employers in 100 metro areas.

In Cape Coral, employment has gotten a boost from the recovering housing market and the fact that the city has a low density rate, at 45%, so there is plenty of room to grow. As home construction has revived, property values have climbed, going up 18%-20% since the trough, says Cape Coral Chamber of Commerce President Mike Quaintance. Housing growth has also fueled growth in restaurants and retail chains, including 7-11, Dollar Stores and Dollar Tree. Cape Coral is getting a new Wal-Mart and a Sam’s Club store. Jobs at those budget retailers don’t tend to pay well, concedes Quaintance. But the housing recovery is also funding better-paying construction-related jobs and home-based businesses like landscaping

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