The most recent Sacramento jobs report indicates that the Greater Sacramento unemployment rate for April 2015 was 5.6 percent, on a non-seasonally adjusted basis. This is down from 5.9 percent the month before. According to California’s Employment Development Department, area employment increased by 2,500 jobs in April.
Statewide, unemployment is 6.3 percent, with 29,500 nonfarm jobs added in April. California has added a total of 457,300 jobs in the last year.
How will the changes in Sacramento unemployment affect employers?
Robert Half Metro Market Manager for their Accountemps division, Kimberly Stiener-Murphy, says the Sacramento area is seeing a rise in the number of jobs created, especially in the professional and business services arena, which “continued its year-over-year growth trend, with an increase of 3,300 jobs.” Regarding the Sacramento unemployment rate, Stiener-Murphy points out that the county’s rate has dropped 0.3 percentage points over the past month, and sits “below the year-ago estimate of 6.9 percent,” compared with “an unadjusted unemployment rate of 6.1 percent for California and 5.1 percent for the nation during the same period.”
An increase in hiring means a decrease in the number of available candidates in the area. If you’re looking to fill a position right away, be aware that your top picks may already have interviews scheduled with other Sacramento companies, and be prepared for some interview-round salary negotiations. Of course, sometimes the best offense is a good defense: keeping employees you already have at your organization is usually both easier and cheaper than looking for replacements. Employee incentives are a great way to increase retention, so don’t be afraid to think outside the box when considering offerings that might pique your employees’ interest.
Has your organization seen changes in the Sacramento jobs market? Share your experiences in the comments section.