The most recent monthly jobs report shows the non-seasonally adjusted Boston unemployment rate dropped 0.2 percentage points in August, coming in at 3.5 percent. During the same reporting period, 6,400 Boston jobs were added on a seasonally adjusted basis, according to Massachusetts Labor and Workforce Development.
Statewide, the seasonally adjusted unemployment rate for August was 3.9 percent, a decrease of 0.2 percentage points from the month prior. Month over month and on a seasonally adjusted basis, Massachusetts added 5,900 jobs.
What do these numbers mean for area employers?
“The Boston unemployment rate has fallen almost a full percentage point over the past year,” says Robert Half regional president Corey Adams. “Additionally, we’re seeing significant area job growth. That means employers really need to step up their game to get talented job seekers through their doors.” Adams suggests employers begin by ensuring they’re offering competitive compensation that will attract area talent. “Starting salary is always going to be a key component when it comes to accepting a job offer,” he says. “Make sure you’re keeping up with industry trends by comparing your numbers to salary ranges listed in the Robert Half 2017 Salary Guide.”
Adams also urges employers to remember the ideal candidate could be right down the hall. “It’s possible to get so swept up in trying to recruit hot new talent that you overlook current employees who are ripe for promotion,” he says. Adams notes that hiring from within not only increases your candidate pool, but it can also bolster retention — an important consideration in the current Boston jobs market.
In search of talent for Boston jobs? Your local Robert Half recruiter can help. Call (855) 404-6500.