According to the most recent monthly jobs report, the seasonally adjusted Los Angeles unemployment rate dropped to 6.5 percent in September. That’s a decrease of 0.4 percentage points since August and is significantly lower than the 8.1 percent rate reported in September 2014. In addition, 39,900 Los Angeles jobs were added in September, on a seasonally adjusted basis.
Across the state of California, the seasonally adjusted unemployment rate was 5.9 percent in September, down significantly from the 7.3 percent reported for the same period a year ago. This is the first time the California unemployment rate has dropped below 6 percent since November 2007. Statewide and on a seasonally adjusted basis, 8,200 jobs were added in September.
What do these numbers mean for employers looking to staff Los Angeles jobs?
“As the Los Angeles unemployment rate declines, demand for talented professionals remains high,” says Brett Good, senior district president with Robert Half. “Competitive salaries are just part of the overall compensation employers need to be ready with, though, if they expect to hire skilled professionals. Employees want to be respected, fit in with your company’s work culture and feel as though they’re providing a positive contribution to your organization,” he says.
In addition, today’s candidates are also looking for attractive perks, such as company-paid parking or commuting reimbursements, along with gym memberships and other perks,” Good notes.
Employers also need to be prepared for a highly skilled candidate to counter their first salary offer. Have a plan in place for salary negotiation and decide beforehand how high your company can realistically go. If candidates suggest a number you’re uncomfortable with, non-tangible benefits such as telecommuting or a flexible work schedule might be strong enough incentives to sway them.
Local Robert Half professionals know the Los Angeles jobs market and can assist with your hiring needs. Call us today at (855) 972-5562.