Monthly Jobs Report: New York City Unemployment Rate Dips

The most recent monthly jobs report shows the seasonally adjusted New York City unemployment rate for June dropped slightly to 5.0 percent, down 0.5 percentage points from this time last year, according to the New York Department of Labor. Additionally, 8,800 New York City jobs were added in June, on a seasonally adjusted basis.

Statewide, the seasonally adjusted unemployment rate was 4.7 percent in June, unchanged from the month prior. Month over month, the state added 26,200 seasonally adjusted jobs.

What does the New York City jobs report mean for area employers?

Robert Half District President Dawn Fay notes that the dip in New York City unemployment, coupled with the city’s job growth, means skilled professionals are still challenging to find. “Your best candidates are going to have multiple offers on the table, so you have to be prepared to move quickly,” Fay cautions. “Review your hiring strategy to ensure it’s rock-solid and efficient.”

She advises employers to start by looking at their candidate evaluation process. “If you can eliminate ineffective steps when reviewing candidates, you speed up the recruitment process and lessen the chances that you’ll bring on a bad hire,” Fay says.

Employers also need to make certain they’re keeping pace with the changing workforce. “As Generation Z candidates continue to enter the market, it’s more important than ever that you’re in tune with their career expectations,” Fay says. “If not, your organization can lose out on valuable talent.” Is your company utilizing the latest technology? Is work-life balance a top priority? Answering these questions now can help you make your company more attractive to up-and-coming talent, Fay says.

In search of top talent for New York City jobs? Your local Robert Half recruiter is ready to help. Call (844) 839-6888.