Monthly Jobs Report: New York City Unemployment Slightly on the Rise

The most recent monthly jobs report shows the seasonally adjusted New York City unemployment rate for August was 5.4 percent, an increase of 0.2 percentage points from the month prior. During the same reporting period, 2,100 New York City jobs were lost on a seasonally adjusted basis, according to the New York Department of Labor.

Statewide, the seasonally adjusted unemployment rate rose slightly to 4.8 percent in August. Month over month and on a seasonally adjusted basis, the state of New York lost a total of 11,100 jobs.

What do the latest New York City jobs numbers mean for employers?

Robert Half district president Dawn Fay says, “The New York City unemployment rate is rising and there are fewer jobs available, but that doesn’t mean it’s any easier to find top talent. To attract the best candidates, it’s still important for employers to offer competitive compensation.” Fay encourages employers to compare their numbers with the salary ranges listed in the Robert Half 2017 Salary Guide.

Fay also advises employers to expand their recruiting strategies: “Don’t forget the importance of a campus recruiting program to tap into a network of enthusiastic workers eager to enter the workforce.”

In addition, Fay urges managers to consider working with a recruiter. “If your hiring process is stalling out, a recruitment agency can save you time and money and result in a better hire than you could attract on your own. And if your staff is starting to buckle under the extra work they encounter while you search for a new employee, turning to a staffing firm for interim employees can provide much-needed relief to your staff while you continue to search.” There’s another advantage to this approach, too. “After observing temporary professionals in action, you may even decide that one of them is the solution to your hunt for a full-time hire,” Fays says.

Need help staffing New York City jobs? Your local Robert Half recruiter knows the market. Call (844) 839-6888.