According to the monthly jobs report, the non-seasonally adjusted Dallas unemployment rate for July was 4.2 percent, a 0.2 percentage point increase from this time last month. On a seasonally adjusted basis, 10,600 Dallas jobs were added during the same reporting period, according to the Texas Workforce Commission.
Statewide, the seasonally adjusted unemployment rate was 4.6 percent in July, up slightly from the month prior. Month over month, a total of 23,600 nonfarm jobs were added on a seasonally adjusted basis.
What does the Dallas jobs report mean for area employers?
Mark Malone, senior regional president for Robert Half in Dallas, notes that in spite of the rising Dallas unemployment rate, the area’s job growth is fueling a candidate’s market right now. “In the current climate, skilled talent can afford to be more discerning about job offers,” Malone says. “Candidates are driving the hiring process, so it’s important for businesses to look for ways to get job seekers’ attention and stand out from the pack.” Malone adds that this may be especially challenging for smaller businesses. “If you’re a small business, you can gain a competitive edge against larger firms by emphasizing your corporate culture, along with other perks such as advancement opportunities and work-life balance initiatives,” he says.
Malone also advises hiring managers to get ready to strike while the iron is hot. “When you find candidates that meet your criteria, don’t hesitate to extend an offer. If you wait too long, you increase the chances that candidates will accept a job with another firm or company,” he says. Additionally, managers should work to avoid any unnecessary hurdles by prioritizing the hiring process, which helps ensure the prompt review of candidate resumes and expedites the scheduling of interviews.