The most recent monthly jobs report shows the non-seasonally adjusted Minneapolis unemployment rate for August was 3.6 percent, a marginal increase from the month prior. On a seasonally adjusted basis, 3,500 Minneapolis jobs were added in August, according to the Minnesota Employment and Economic Development.
Statewide, the seasonally adjusted unemployment rate rose slightly to 4.0 percent in August. Month over month and on a seasonally adjusted basis, Minnesota lost a total of 1,500 jobs.
How does the Minneapolis jobs report impact area employers?
Robert Half district president James Kwapick says, “In spite of the recent uptick, the Minneapolis unemployment rate is still relatively low. That fact coupled with recent Minneapolis jobs gains means employers still need to set themselves apart from the competition when it comes to attracting talented job seekers.” Kwapick suggests employers begin by evaluating salary, which remains an important factor in job offers. “Benchmark your starting salary offerings against data in the Robert Half 2017 Salary Guide to ensure you’re offering competitive compensation,” he says. “Then, consider other perks you can offer to increase your organization’s appeal to candidates, such as professional development opportunities and volunteer time off.”
Kwapick also urges employers to actively recruit. “The fact that Minneapolis unemployment has ticked upward doesn’t mean finding skilled talent will suddenly become an easy feat,” he says. Building on traditional hiring strategies by pursuing alternative avenues such as campus recruiting programs or working with specialized staffing firms can provide big returns. “You should also consider where you’re publicizing your job openings,” Kwapick says. “Are you posting on social media, or using an employee referral program? You never know where your next great hire will come from, so it pays to be proactive.”
Have your hiring plans been impacted by the Minneapolis jobs report? Contact your local Robert Half recruiter for assistance. Call (844) 823-6469.