The most recent monthly jobs report shows the seasonally adjusted Los Angeles unemployment rate for June was 4.8 percent, a notable decline of 2 percentage points from this time last year. On a non-seasonally adjusted basis, 8,700 Los Angeles jobs were added during the same reporting period.
Across the state, the seasonally adjusted unemployment rate for June was 5.4 percent, up 0.2 percentage points from the month prior. In spite of this increase, the state added a total of 40,300 jobs in June on a seasonally adjusted basis.
What does the current Los Angeles jobs market mean for employers in the area?
According to Robert Half Senior District President Brett Good, “The declining Los Angeles unemployment rate, coupled with the jobs growth we’re seeing, means managers need to stay alert and attentive to their current staff as their top talent may be lured away by the competition.”
Good advises managers to stay abreast of employment trends, such as the growing importance of benefits and professional development opportunities. “If you emphasize your company’s culture and focus on employee retention, you’ll keep your best performers happy and they’ll be less likely to entertain other job offers,” Good says.
Good also notes that, even with the current market conditions, employers should keep a watchful eye on workloads and know when it’s time to hire.
“Be mindful of the warning signs of employee burnout, such as a lack of enthusiasm from your staff or increased mistakes, which could mean that you need to add team members,” Good says. He also advises employers recruiting in the Los Angeles jobs market to make the hiring process as efficient as possible in order to minimize the duration of the process in order to keep the candidates engaged and enthusiastic about the opportunity.
Need help staffing Los Angeles jobs? Your local Robert Half recruiter is here to help. Call (855) 972-5562.