TriNet’s May SMBeat: Major Industries Show Employment Gains; Massachusetts Leads the Country in Job Growth.
SAN LEANDRO, Calif. – June 3, 2015 – TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its May 2015 SMBeat, a monthly analysis of small to medium-sized business (SMB) employment and human capital economic indicators. May’s report focuses on geographic and industry trends on a national scale, showing increased employment stability and positive growth in major industries.
This month, Massachusetts showed the most improvement, with an employment index increase of 2% to 361, while its capital, Boston, had the best month-over-month change at 2.2% compared to other selected metropolitan areas. With an index value of 83, Oklahoma is the state with the biggest decrease this month. Oklahoma City showed the biggest decrease in metro areas, with an index value of 79.
For the third month in a row, the information technology sector had the best month-over month gain. The professional and business services and construction sectors also performed well in May.
Below are the key findings of the May 2015 TriNet SMBeat Report. All data related to employment growth and losses are sourced from TriNet’s population of more than 11,000 clients and over 288,000 worksite employees in the U.S. This month’s report results:
- The TriNet SMBeat employment index increased 0.5% from 188 to 189. Additionally, the index is up 12% compared to the same time last year. The hiring rate index is the same as last month, staying at 67.
- The termination rate index decreased in May, moving from 56 to 55. Similarly, voluntary terminations decreased this month with the index moving from 89 to 87, a 2.2% change. The involuntary termination index has been decreasing for the past 12 months. This month’s involuntary termination index of 35 is 18% lower than the May 2014 index of 43.
- Massachusetts had good gains in May with a month-over-month increase of 2%, moving the index value to 361. For the third month in a row, Oklahoma decreased for a May index value of 83.
- The Boston, metro area had a month-over-month gain of 2.2%, moving the index value to 373. The Oklahoma City, metro area decreased this month, with an index value of 79.
- For the third month in a row, the information sector enjoyed the highest month-over-month gain of 2%, bringing the employment index value to 649 in May.
- The professional and business services and construction sectors also performed well this month, increasing by 2% and 1% moving the indices to 87 and 295, respectively.
For additional details and to receive monthly SMBeat alerts, visit TriNet.com/smbeat.
For current HR news, visit the TriNet Blog: http://www.trinet.com/blog/
TriNet is a leading provider of a comprehensive human resources solution for small to medium-sized businesses, or SMBs. We enhance business productivity by enabling our clients to outsource their human resources, or HR, function to one strategic partner and allowing them to focus on operating and growing their core businesses. Our HR solution includes services such as payroll processing, human capital consulting, employment law compliance and employee benefits, including health insurance, retirement plans and workers compensation insurance. Our services are delivered by our expert team of HR professionals and enabled by our proprietary, cloud-based technology platform, which allows our clients and their employees to efficiently conduct their HR transactions anytime and anywhere. For more information, please visit http://www.trinet.com.
TriNet, Ambitions Realized and the TriNet logo are registered trademarks of TriNet. All other trademarks, service marks, registered trademarks, or registered service marks are the property of their respective owners.
 As of March 31, 2015. Data is further sourced from full-time and salaried employees of TriNet’s clients, which we refer to as worksite employees.
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