The most recent monthly jobs report shows the seasonally adjusted Los Angeles unemployment rate for July was 4.8 percent, down slightly from the month prior. This represents a decrease of 1.8 percentage points from this time last year. In spite of this decline, 56,300 Los Angeles jobs were lost in July, on a non-seasonally adjusted basis.
Statewide, the unemployment rate saw a marginal uptick in July, coming in at a seasonally adjusted 5.5 percent. Month over month, California added 36,400 jobs on a seasonally adjusted basis.
How does the current Los Angeles jobs report affect area employers?
According to Robert Half Senior District President Brett Good, “Even a slightly declining Los Angeles unemployment rate means that managers should continue to prepare for the hiring process to take longer than expected.” Good encourages employers to find ways to improve their processes, such as examining the quality of their job descriptions and job postings, which can impact the caliber of applicants.
Good also advises area managers to employ a degree of flexibility in their hiring strategies. “Don’t be so set on finding a candidate who perfectly meets every requirement you have listed on paper,” he says. “If you do, you’ll waste time and resources chasing after candidates that likely don’t exist.” While recruiting, consider using temporary professionals as part of a flexible staffing strategy that can help keep projects on track. And don’t forget that these professionals can also turn into valuable full-time employees with some additional training.”