NATIONAL EMPLOYMENT REPORT -
The TriNet SMBeat employment index is at 439, up 2.1% from last month.
GEOGRAPHIC TRENDS - New York improved the most compared to other selected states across the TriNet population with an employment index of 1551 in October. Across selected metro areas in the TriNet population, the Los Angeles, CA metro area had the best month-over-month change at 3.7%.
INDUSTRY TRENDS - The transportation and warehousing sector enjoyed the highest month-over-month gain of 5.1%, moving the October employment index value to 187.
Every year, the Bureau of Labor Statistics publishes the American Time Use Survey results which represent the most detailed understanding of how Americans spend their time. We present interactive graphics that look at how full time employed workers spend their time on weekdays and weekends.
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The TriNet SMBeat employment index increased 2.1%, moving from 430 to 439. Additionally, the index is up 25.1% compared to the same time last year. The hiring rate index is the same as last month with a value of 78.
The termination rate index decreased in October, moving from 69 to 68. Similarly, voluntary terminations decreased this month, with the index moving from 116 to 114, a 1.7% change. The involuntary termination index is the same as last month, remaining at 44.
Industry gains were mixed in October. The transportation and warehousing sector enjoyed the highest month-over-month gain of 5.1%, bringing the employment index value to 187. The construction and information sectors also performed well this month, increasing by 4.4% and 3%, moving the indices to 119 and 2713, respectively. The chart below details the 10-year trend in industry employment levels.
New York had good gains with a month-over-month increase of 3.1%, moving the index value to 1551. The Los Angeles, CA metro area had a month-over-month gain of 3.7%, moving the index value to 1625. Oklahoma had no change in October, with an index value of 67. The Riverside, CA metro area decreased, with an index value of 20.
Industry NAICS Codes
|Prof. & Business Svcs.||54-56|
|Edu. & Health Svcs.||61-62|
|Leisure & Hospitality||71-72|
SMBeat provides a detailed analysis of trends in key human capital economic indicators for small and midsize businesses. TriNet generates employment payroll and other information by tracking real-time movements within its base of more than 12,000 clients with 314,000+ worksite employees (as of 9/30/15). The use of “TriNet population” or “TriNet clients” throughout this document refers to a filtered subset of full-time, salaried TriNet clients’ employees (or worksite employees). All reported statistics are also seasonally adjusted using the U.S. Census Bureau X12-ARIMA methodology unless otherwise indicated. All reported months follow the Bureau of Labor Statistics U.S. jobs report timeline covering the 13th of the previous month to the 12th of the current month. All indexed values are set to 100 for January 2005. SMBeat aggregates and reports data from TriNet clients 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. Forward-looking estimates or projections in SMBeat publications are based on data available at the time of publication and TriNet undertakes no obligation to update such data in any future publication based on new information or other factors that may affect actual results. However, slight adjustments will be made to historical figures in time series charts presented in future publications if and when updated employment information about actual prior periods is obtained. All text and figures in the SMBeat are created by internal analysis of TriNet data unless otherwise noted. All sentences in a footnoted paragraph originate from the footnoted sentence source. SMBeat follows the Chicago Manual of Style for footnotes. Any significant changes in previous editions of SMBeat will be called out in this section or in footnotes.