October 7, 2015

Employment Index Shows Significant Growth Over the Previous Year; Massachusetts Shows Greatest Employment Rate Improvement For the Second Month in a Row

 

TriNet releases September SMBeat employment report

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SAN LEANDRO, Calif. – Oct. 7, 2015 – TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its September 2015 SMBeat®, a monthly analysis of small and midsize business (SMB) employment and human capital economic indicators. September’s report focuses on geographic and industry trends on a national scale, showing increased employment stability and positive growth in major industries.

The TriNet SMBeat employment index is up 11% compared to the same time last year. Additionally, this month, the index increased 0.5%, moving from 200 to 201.

For the second month in a row, Massachusetts improved most over other states across the TriNet population, with a 1.8% gain over August, moving the index to 387. Also for the second month in a row, the Riverside, Calif. area had the highest month-over-month change across metro areas in the TriNet population, with an increase of 1.6%, moving the index value to 62.

The construction sector had the strongest month-over-month gain across all industries, increasing to a 93 index value. Surprisingly, the construction sector replaces the information sector – which showed greatest industry gains for six months in a row – at the top of the industry ranking. Other industries that performed well this month were the information and leisure, and hospitality sectors, with increases of 1.8% and 1.3%, moving the indices to 730 and 80, respectively.

Below are the key findings of the September 2015 TriNet SMBeat Report. All data related to employment growth and losses are sourced from the TriNet population of more than 11,000 clients and over 302,000 worksite employees[1] in the U.S. This month’s report results reveal:

National Report:

  • This month, the TriNet SMBeat employment index increased 0.5%, moving from 200 to 201. The index is up 11% compared to the same time last year. The hiring rate index is the same as the last three months, with a value of 68.
  • The termination rate index decreased from 60 to 59. Similarly, voluntary terminations decreased this month, with the index moving from 98 to 96, a 2% change. The involuntary termination index is down at the same rate as last month, moving from 39 to 38, a 2.6% change.

 Geographic Trends:

  • Massachusetts had good gains in September with a month-over-month increase of 1.8%, moving the index value to 387.
  • The Riverside, Calif. metro area had a month-over-month gain of 1.6%, moving the index value to 62.

Industry Trends:

  • The construction sector enjoyed the highest month-over-month gain of 2.2% in September, bringing the employment index value to 93.
  • The information and leisure, as well as the hospitality sector, also performed well this month, increasing by 1.8% and 1.3%, moving the indices to 730 and 80, respectively.

For additional details and to receive monthly SMBeat alerts, visit TriNet.com/smbeat.

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For current HR news, visit the TriNet Blog: http://www.trinet.com/blog/

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About TriNet

TriNet is a leading provider of a comprehensive human resources solution for small to midsize 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.

Media Contacts:

Jock Breitwieser

TriNet

Jock.Breitwieser@TriNet.com

(510) 875-7250

 

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[1] As of June 30, 2015. Data is sourced from full-time and salaried employees of TriNet clients, whom we refer to as worksite employees.