According to the monthly jobs report, the seasonally adjusted Los Angeles unemployment rate continued its steady decline in February, coming in at 5.6 percent. During the same reporting period, 21,400 Los Angeles jobs were added, on a seasonally adjusted basis.
Across the state of California, the seasonally adjusted unemployment rate dropped to 5.5 percent in February. Month-over-month, the state saw seasonally adjusted jobs gains of 39,900.
How do these numbers impact employers looking to hire in the current Los Angeles jobs market?
“The Los Angeles unemployment rate continues to drop, while new positions are steadily opening,” says Robert Half Senior District President Brett Good. “This definitely amplifies the challenges employers face in locating skilled professionals.”
To find top talent for open Los Angeles jobs, Good suggests re-evaluating your hiring process. “If you currently use a recruitment strategy that drags on for several weeks, you risk losing the strongest candidates to the competition,” he says. “Many job seekers have multiple offers on the table. Once you identify a candidate you want to hire, you need to act swiftly.”
Good notes that another factor hiring managers need to consider is how they sell their organization to prospective hires. “It’s important to differentiate yourself from the competition,” Good advises. “Naturally, you want to offer competitive compensation, but you’ll see more success if you take the time to understand all the factors candidates evaluate when weighing an offer.” This includes nonmonetary perks such as extra vacation days, telecommute options, flextime and employee wellness programs. “Many of the best candidates on the market today also want a job that can offer them work-life balance,” he says. “Employers need to recognize this and adjust their negotiations accordingly.”
Looking for talent in the Los Angeles area? Your local Robert Half recruiter has a finger on the pulse of the market. Call (855) 972-5562 today.