According to the most recent monthly jobs report, the non-seasonally adjusted Dallas unemployment rate for January was 3.8 percent, a slight increase from last month but down 0.7 percent from one year ago. On a seasonally adjusted basis, no new Dallas jobs were added or lost in January.
Across the state of Texas, the seasonally adjusted unemployment rate decreased slightly in January, coming it at 4.5 percent. Statewide, a total of 31,400 jobs were added in January, also on a seasonally adjusted basis.
What does this mean for Dallas employers?
According to Robert Half Senior Regional President Mark Malone, regional job growth over the past several months, coupled with the mostly steady Dallas unemployment rate, have caused the local hiring environment to continue to be competitive. “We’re finding that skilled candidates are weighing multiple options before accepting a job offer,” says Malone. The number of available Dallas jobs means candidates with in-demand skills can afford to be more discerning. “Compensation is still a huge factor,” Malone adds. He encourages managers to ensure salary remains competitive to fill Dallas jobs in a timely manner.
While pay is always important, Malone notes it’s not the only way to land top talent in the current market. “Because the best candidates are weighing multiple offers, companies have to emphasize their positive corporate culture and additional benefits in order to stand out from the crowd,” he says. Malone encourages employers to emphasize the non-monetary perks that set their organization apart from the rest. “Promote your corporate culture and any benefits that encourage a healthy work-life balance,” he adds. With more and more candidates looking for things like professional development opportunities and flexible work hours, this could tip the scales in your favor.
How does the Dallas jobs report affect your hiring plans? For expert assistance with hiring efforts, contact your local Robert Half recruiter at (855) 385-5631.