According to the most recent monthly jobs report by the Minnesota Department of Employment and Economic Development, the non-seasonally adjusted Minneapolis unemployment rate for April was 3.4 percent, a decrease of 0.6 percentage points from the month prior. On a seasonally adjusted basis, 8,100 Minneapolis jobs were added during the reporting period.
Across the state, the seasonally adjusted unemployment rate was 3.8 percent in April, unchanged from the previous month, but up 0.2 percentage points from this time last year. On a seasonally adjusted basis, a total of 15,600 Minnesota jobs were added over the month.
What does this mean for employers looking to staff Minneapolis jobs?
Robert Half District President James Kwapick notes that the combination of a declining Minneapolis unemployment rate and an increasing number of available jobs means hiring managers have their work cut out for them. “The current market conditions have led to a lack of available talent,” he says. “That means candidate searches are more likely to take more time — or stall out.”
To remain competitive and address openings in a timely manner, Kwapick suggests managers keep an open mind with regard to applicants. “If candidates with years of experience aren’t available, recognize that, with a bit of extra training, a recent graduate or a temporary employee could become a valuable full-time team member,” he states. “If you do manage to find candidates with extensive experience, you’ll have to be willing to keep up with going salary rates for these professionals.
Kwapick adds that once employers find the people they’re looking to hire for Minneapolis jobs, they need to make timely final decisions. “A drawn-out recruitment process isn’t the way to land top talent,” he says. “You need to ramp up your hiring efforts so you can move quickly for the right candidates.”
Has the Minneapolis jobs market affected your hiring plans? Contact your local Robert Half recruiter for assistance at (844) 823-6469.