NATIONAL EMPLOYMENT REPORT -
This month the TriNet SMBeat employment index is at 187, up 1.1% from last month.
GEOGRAPHIC TRENDS - Nevada improved the most, compared to other selected states across the TriNet population, with an employment index of 163 in March. Across selected metro areas in the TriNet population, the Boston, MA area had the best month-over-month increase of 1.7%.
INDUSTRY TRENDS - The information sector enjoyed the highest month-over-month gain this month of 2.1%, moving the employment index value to 624 in March.
This month the TriNet SMBeat employment index increased 1.1%, moving from 185 to 187. Additionally, the index is up 13% compared to the same time last year. The hiring rate index of 69 is the same as last month.
The termination rate index decreased in March, moving from 57 to 56. Similarly, voluntary terminations decreased this month with the index moving from 91 to 89, a 2.2% change. The involuntary termination index is down 2.7% this month, moving from 37 to 36.
Industry gains were mixed in March. The information sector enjoyed the highest month-over-month gain of 2.1%, bringing the employment index value to 624 in March. Professional and business services and construction sectors also performed well this month, increasing by 1.4% and 1.2% and moving the indices to 286 and 87, respectively. The chart below details the 10-year trend in industry employment levels.
Nevada had good gains in March with a month-over-month increase of 1.9%, moving the index value to 163. Oklahoma decreased this month with an index value of 84. The Oklahoma City, OK metro area had no change this month, with an index value remaining at 80. The Boston, MA metro area had a month-over-month gain of 1.7%, moving the index value to 352.
Industry NAICS Codes
|Prof. & Business Svcs.||54-56|
|Edu. & Health Svcs.||61-62|
|Leisure & Hospitality||71-72|
SMBeat provides a detailed analysis for trends in key human capital economic indicators for small and medium-sized businesses. TriNet generates employment payroll and other information by tracking real-time movements within its base of more than 10,000 clients with 288,000+ worksite employees (as of 12/31/14). 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 US 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 will be called out in this section or in footnotes.