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Employment Metrics - May Result

Employment Metrics - June Forecast

Inside This Issue

  • National Employment Report: Net employment levels edged up to 0.65% in May, breaking a three-month downward trend, though still short of the January high of 1.06%.
  • What's Hot: Texas Construction: Construction jobs experience a stout 6.68% growth, bolstered by the Barnett shale gas boom across the state. Massachusetts Tech: Employment in the tech sector got a bump in May, up 2.04% as the state’s small to midsize tech companies add jobs.
  • What's Cold: California Wholesale Trade: The weakening import/export industry in California is affecting the wholesale trade sector with a 4.88% decrease in jobs.

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About SMBeat

SMBeat provides a detailed analysis and a predictive forecast for trends in key human capital economic indicators for small businesses. All reported statistics are seasonally adjusted unless otherwise indicated. All reported months run from the 13th of the previous month to the 12th of the current month.1 TriNet generates payroll information by tracking real-time movements within its base of approximately 7,000 entrepreneurial businesses whose employees earn approximately $100,000 in annual base salary. These companies fall primarily into three broad industry segments: technology, professional services, and financial services. SMBeat aggregates and reports data reflecting compensation, hiring and retention (both involuntary terminations and voluntary resignations), and also provides ongoing analysis of contributing factors to these trends, including regional, industry and seasonal variables. Slight adjustments will be made to historical figures in time series charts if and when updated employment information about actual prior periods is obtained.

1 The SMBeat has slightly changed the monthly reporting cycle to end on the 12th of the month, which mirrors the methodology of the US Bureau of Labor Statistics.