Employment Metrics - October Result
Inside This Issue
National Employment Report: In October, net job growth increased to 2.45%, substantially higher than September's growth of 1.35%.1
- The California Construction Sector Outlook through the End of 2014: This month, we take an in-depth look at the construction sector in California. Based on our analysis of various job market indicators, we expect that California will add more than 10,000 construction jobs in the fourth quarter of 2014.
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SMBeat provides a detailed analysis for trends in key human capital economic indicators for small and medium-sized businesses. TriNet generates payroll information by tracking real-time movements within its base of approximately 272,000 worksite employees from 10,000 clients (as of 09/30/14). 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 covering the 13th of the previous month to the 12th of the current month. These companies represent the following industry verticals: construction, manufacturing, retail/wholesale, professional services, personal services, technology, financial services, and life sciences. 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. 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 revisions to previous issues of SMBeat will be called out in this section or in footnotes.
1All historical estimates in previous SMBeat publications are routinely revised to incorporate additional data and recalculated seasonal adjustment factors.