According to the most recent monthly jobs report, the Houston unemployment rate increased slightly to 4.9 percent in November, on a non-seasonally adjusted. In addition to the uptick in unemployment, 300 Houston jobs were lost on a seasonally adjusted basis.
Statewide, the seasonally adjusted Texas unemployment rate in November increased month-on-month by 0.2 percentage points to reach 4.6 percent. In spite of the higher unemployment rate, the state saw seasonally adjusted jobs gains of 16,300.
What do these figures mean for hiring in the Houston jobs market?
Robert Half Senior Regional President Mark Malone says the high demand for skilled and experienced candidates is making hiring a challenge for many companies in the Houston area. “Concerns with the stability of jobs in the oil and gas sector have led to fewer highly qualified candidates on the market,” he notes. “Employees are less likely to seek new options with the current levels of uncertainty in the industry.” The lack of talented individuals willing to take risks on new jobs can lead to open positions staying vacant longer.
Malone suggests that one method companies can use to quickly staff crucial openings is hiring from within, even if the positions require additional training for prospective candidates. “In the current Houston jobs market, it may take less time to bring current employees up to speed on new roles than it would to locate and hire a new candidate,” he says.
Malone advises companies that do need to hire outside candidates to waste no time once they locate prospective hires. “With the limited amount of talent on the market, many skilled professionals are receiving multiple offers,” he notes. “You need to be prepared to move quickly and offer a competitive starting salary, or you could lose your top candidate to the competition.”
Do you need help finding talented Houston professionals? Your local Robert Half recruiter has you covered. Call (855) 407-4735 today.