According to the most recent monthly jobs report, the non-seasonally adjusted San Francisco unemployment rate for November was 3.3 percent, consistent from last month and down 0.7 percent from this time last year. Additionally, 3,100 nonfarm San Francisco jobs were added in November, on a non-seasonally adjusted basis.
Across the state of California, the seasonally adjusted unemployment rate for November was 5.7 percent, down slightly from October. This represents a drop of 1.5 percentage points from November 2014. The state also added 5,500 jobs in November, on a seasonally adjusted basis.
What do these numbers mean for employers trying to staff San Francisco jobs?
Robert Half Senior District President Sharon Black notes that while San Francisco unemployment is declining and the job market is thriving, hiring managers continue to face challenges. “Companies are encountering a shortage of talent in every sector,” she says.
Additionally, larger companies are being forced to adapt to increased hiring competition from small businesses. “Small companies continue to woo talent with their work-life balance offerings, while large companies are turning candidates’ heads with their stability and by adding perks,” Black adds. To attract — and land — the best candidates, Black advises managers to evaluate the benefits they currently offer, and to make sure those benefits are paired with competitive salaries.
Another challenge hiring managers have to contend with is changes in candidate expectations. “With so many generations in the workforce today, companies must adapt their hiring models and continue to refine their ability to meet a variety of employee preferences,” Black says. She adds that managers should stay up to date on the career expectations of the newest workers in the San Francisco jobs market — Generation Z.
Are you searching for San Francisco’s top talent? Your local Robert Half recruiter knows the job market in and out. Call (844) 303-2724 today.