According to the most recent monthly jobs report from the Texas Workforce Commission, the non-seasonally adjusted Houston unemployment rate for June is at 4.5 percent. This is decrease of 0.8 percentage points from this time last year. On a seasonally adjusted basis, 4,000 Houston jobs were added in the same month.
As for the rest of the Lone Star State, the seasonally adjusted unemployment rate dropped to 4.2 percent in June. Texas added 16,700 nonfarm jobs, 8,300 of which were in the professional and business services sector. The state has added 269,900 jobs in the past year, continuing a streak of job growth for 56 of the past 57 months.
Do these monthly jobs report numbers mean changes for the Houston jobs market?
Thomas Vick, metro market manager at Robert Half, says the hiring market is as robust as ever. Regarding specific areas of interest, Vick notes that controllers with Securities and Exchange Commission (SEC) experience are highly sought. However, he also says, “At this time we’re not seeing one industry that’s hiring more than another; it’s really across the board.” This indicates a strong demand for talent in numerous sectors.
As far as how the Houston unemployment rate is affecting employers, Vick says companies “are facing a shortage of candidates and a very competitive market. Employers need to be ready to make an attractive offer, and they need to be willing to move quickly once they start the hiring process.” This need can intensify if you’re staffing positions that require specialized certifications and experience, especially if you’re a smaller organization competing with larger companies. However, Vick has observed that organizations that heed his advice and accompany quicker hiring processes with competitive salary and compensation packages are often successful in landing top talent.
How has the Houston unemployment rate affected hiring at your organization? Share your thoughts in the comments section below.