According to the monthly jobs report, the Los Angeles unemployment rate dropped 0.4 percentage points in October, coming in at a seasonally adjusted 6.1 percent. This number represents a decline of 1.9 percentage points since this time last year. In addition, 37,800 Los Angeles jobs were added in October, on a non-seasonally adjusted basis.
The unemployment rate for California dipped slightly to a seasonally adjusted 5.8 percent in October. Over the past 12 months, the state’s unemployment rate has decreased 1.4 percentage points. The monthly jobs report also showed that the state gained 41,200 seasonally adjusted jobs in October.
What does this mean for employers looking to staff Los Angeles jobs?
“As the Los Angeles unemployment rate declines, the number of skilled candidates follows suit,” says Brett Good, [AS1] senior district president with Robert Half. This comes at a time when 81 percent of Los Angeles CFOs polled for a Robert Half survey say they plan to hire in the latter half of 2015 and early months of 2016. “Clearly the market for LA’s most skilled professionals will continue to be competitive in coming months,” Good says.
“To attract top talent, employers need to make sure they’re aware of the factors candidates evaluate when considering an offer,” Good adds. Compensation and a robust benefits package remain high on job seekers’ radar but companies can also attract key employees with non-monetary perks such as flexible scheduling, telecommute options and extra vacations days. “It’s important to put your best foot forward and sell your company when conducting interviews, but you also want to make sure you listen to candidates and see what you might be able to offer that other companies cannot,” he notes.
Local Robert Half professionals know the area jobs market and can help you locate passive job seekers. Call us today at (855) 972-5562.