According to the most recent monthly jobs report, the non-seasonally adjusted San Francisco unemployment rate for January was 3.2 percent, consistent from last month and down 0.8 percent from a year ago. On a non-seasonally adjusted basis, 19,100 San Francisco jobs were lost in January.
For the state of California, the seasonally adjusted unemployment rate for January came in at 5.7 percent, down 0.2 percent from last month and 1.1 percent this time last year. Statewide, a total of 1,500 nonfarm jobs were lost in January.
What do these numbers mean for hiring managers in the San Francisco jobs market?
Robert Half Senior District President Sharon Black notes that the steady San Francisco unemployment rate and the shrinking jobs numbers do not mean that hiring is easy. “Employers in the area shouldn’t be lulled into a false sense of security,” she says. With fewer jobs available, companies will likely be flooded with applications from candidates who don’t necessarily have the skills and experience employers need. Black advises hiring managers to review job position requirements and carefully craft descriptions to encourage the best candidates to apply. Effective job descriptions can save time throughout the hiring process, and help managers more efficiently evaluate potential hires.
Black also recommends managers familiarize themselves with their company’s hiring timeline and emphasizes the value of seeking assistance from a staffing firm. She adds that managers who don’t want to get involved in a traditional candidate search can consider alternative strategies, such as hiring from within or rehiring former workers — so-called boomerang employees. “Sometimes, good talent may be willing to come back, and it doesn’t hurt to keep those lines of communication open,” she says.
How does the current San Francisco jobs report affect your hiring plans? For assistance with hiring efforts, contact your local Robert Half recruiter at (844) 303-2724.