According to the most recent monthly jobs report, the non-seasonally adjusted Boston unemployment rate held steady in November, coming in at 4.1 percent. This is down 0.5 percentage point from a year ago this time. Additionally, 2,100 Boston jobs were added in November, on a non-seasonally adjusted basis.
The monthly jobs report shows that the Massachusetts unemployment rate increased slightly to a seasonally adjusted 4.7 percent in November. In this same reporting period, Massachusetts saw seasonally adjusted jobs gains of 5,900.
Let’s see what these figures mean for employers looking to staff Boston jobs.
“The Boston unemployment rate is lower than the national average, which is part of the reason we’re seeing a shortage of skilled professionals in the area” says Robert Half Regional President Corey Adams. “Organizations looking to staff positions requiring high levels of skill and experience will find it takes a while to locate qualified candidates. This is a serious problem if a replacement needs to be hired quickly.”
To minimize turnover and reduce the need to hire even more hard-to-find employees, Adams suggests having a solid retention plan in place. “If you make certain your star players are satisfied with their jobs, their pay and their chances of advancement, they’re less likely to explore other options.” An improved focus on retention that addresses issues spanning competitive salaries and professional development opportunities may be just what your company needs.
Adams also advises employers to be aware of the wants and needs of the newest job seekers on the market: Generation Z. “These workers are eager to make an impact and want to move up the ladder swiftly,” says Adams. If your organization offers ample career advancement opportunities, you’ll have a better chance of landing — and keeping — talented Gen Z employees.
For help finding Boston talent from all generations, contact your local Robert Half agent. Call (855) 404-6500 today.