According to the most recent monthly jobs report, Boston unemployment rose 0.1 percentage points in May, coming in at a non-seasonally adjusted rate of 3.5 percent. On a seasonally adjusted basis, the total number of Boston jobs decreased by 7,400 over the same reporting period, according to Massachusetts Labor and Workforce Development.
The Massachusetts unemployment rate remained at a seasonally adjusted 4.2 percent in May. Month over month, Massachusetts lost 6,400 jobs on a seasonally adjusted basis.
What do these figures mean for managers looking to staff Boston jobs?
Robert Half Regional President Corey Adams notes that even though the Boston unemployment rate saw a slight increase in May, it’s still relatively low. “We’re continuing to see demand for top talent in the area,” says Adams. “To locate professionals for highly skilled roles in today’s market, you have to also cast your net towards passive job seekers — those willing to make a move but not actively looking,” Adams says. “Consider working with a staffing agency or implementing an employee referral program to get leads on candidates you may not otherwise hear about.”
Adams also highlights the importance of managers hiring from within to staff open positions. “In addition to keeping crucial roles staffed, hiring from within also lends itself to higher retention rates. “Your company isn’t the only one looking for passive talent,” Adams says. “You need to keep your star players satisfied, and one means of doing so is helping them advance their careers. This, in turn, encourages company loyalty.”
In search of talented professionals? Your local Robert Half recruiter knows the Boston jobs market inside and out. Call (855) 404-6500 today.