According to the most recent monthly jobs report, the seasonally adjusted Philadelphia unemployment rate for June was 5.0 percent, down 0.2 percentage points from the previous month. Also on a seasonally adjusted basis, 8,200 Philadelphia jobs were added since the last reporting period.
Statewide, the seasonally adjusted unemployment rate rose slightly to 5.6 percent in June. Month over month, the state added 20,000 jobs on a seasonally adjusted basis.
How does the current Philadelphia jobs market impact area employers?
Robert Half Regional Vice President Stephanie Naznitsky notes that the declining Philadelphia unemployment rate and the rising number of jobs could present a challenge for employers, as the demand for talent outweighs supply. “Given the current market conditions, hiring managers may find it takes longer to staff open positions,” Naznitsky says.
The competition for top candidates, she says, may be particularly intense. “In this hiring market, your best candidates will likely have several offers to choose from,” Naznitsky says. Employers need to be sure that they not only offer competitive wages and attractive benefits, but that they have a hiring process in place that allows them to move quickly and connects them to the talent they want.
Naznitsky suggests employers consider not only traditional recruitment efforts, such as job postings, but alternative strategies like internal recruitment or employee referrals. “Your current staff members have their own professional network, and may be able to help bring in a stellar candidate — especially if your organization offers incentives,” she says. Specialized recruiters can also help with the hiring process and provide access to talent that’s passively looking for opportunities, Naznitsky says.
Are you searching for top talent to staff Philadelphia jobs? Your local Robert Half recruiter is here to help. Call (855) 399-4842.