According to data from the most recent monthly jobs report, the non-seasonally adjusted Dallas unemployment rate increased slightly to 4.0 percent in June. The current rate comes in 1.3 percentage points lower than this time last year. In the same month, 17,800 Dallas jobs were added on a seasonally adjusted basis.
Statewide, the monthly jobs report shows Texas’s seasonally adjusted unemployment rate dropping to 4.2 percent. On a seasonally adjusted basis, Texas added 16,700 jobs in the past month, 8,300 of which were in business and professional services.
Let’s see how these numbers may affect hiring for Dallas jobs.
Mark Malone, senior regional manager for Robert Half, says that the hiring market “has gotten more competitive, if anything, in Dallas-Fort Worth.” Dallas jobs showing the greatest demand currently include staff and senior accountants, financial analysts and internal auditors, with the most hiring occurring in the manufacturing, healthcare, real estate, construction and retail fields.
One challenge Malone says employers are currently facing is “their ability to condense and streamline the hiring process, in order to hire quickly once they identify a good candidate.” He notes that the Houston jobs market can be extremely competitive. “Good candidates are receiving multiple offers within weeks, sometimes even days. Employers with a lengthy hiring process are simply losing out to companies that can move quickly.”
Malone also underlines the importance of focusing on your retention efforts, and suggests employers regularly reevaluate their salary and compensation structures to ensure they remain current with the market. He warns that companies that don’t make these efforts are in jeopardy of losing their top talent to competitors who can offer jobs with higher salaries and more perks.
How do you think the Dallas unemployment rates in the monthly jobs report will affect your organization? Share your thoughts in the comments.