The most recent monthly jobs report shows the non-seasonally adjusted Minneapolis unemployment rate for March was 4.0 percent, a slight increase from the previous month. On a seasonally adjusted basis, 2,200 Minneapolis jobs were added during the reporting period.
Statewide, the seasonally adjusted unemployment rate was 3.7 percent in March, holding steady for the fifth month in a row. Month over month, Minnesota lost 2,900 jobs, on a seasonally adjusted basis.
What do these numbers mean for employers looking to staff open Minneapolis jobs?
According to Robert Half District President James Kwapick, managers need to be mindful of selling their companies to the newest members of the workforce — Generation Z — in the current market. “The Minneapolis unemployment rate saw a marginal increase, but we still experienced job growth in March,” Kwapick says. “And many companies have yet to update their hiring strategies to account for Gen Z candidates. Businesses that focus on attracting the new generation can gain a competitive edge in the market.” To do so, employers must first understand the salary and workplace expectations of Gen Z. Kwapick notes that in addition to competitive starting salary, this generation values alternative benefits that promote work-life balance, such as flexible hours and paid volunteer time off (VTO).
Kwapick also cautions employers to prepare for longer hiring processes. “The Minneapolis unemployment rate is low. Couple that with area job growth, and the hiring cycle can stall out, leaving existing staff with heavy workloads for longer periods of time,” he says. Kwapick suggests employers keep an eye open for warning signs of employee burnout, and know when to seek help. “If you find you’re having difficulty staffing vacant positions, consider working with temporary employees to fill gaps until you locate new full-time hires,” he says.
Your local Robert Half recruiter can help you find talented professionals for open Minneapolis jobs. Call (844) 823-6469 today.