September 2, 2015

Information Sector Leads Industry Growth for Sixth Month in a Row; Massachusetts Bumps Arizona Out of the Lead After Two Months

 

TriNet releases August SMBeat employment report ____________________________________________________________________________

SAN LEANDRO, Calif. – Sept. 2, 2015 – TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its August 2015 SMBeat®, a monthly analysis of small and midsize business (SMB) employment and human capital economic indicators. August’s report focuses on geographic and industry trends on a national scale, showing increased employment stability and positive growth in major industries.

The information technology sector had the strongest month-over-month gain across all industries with a 1.8% gain to a 718 index value. August marks the sixth consecutive month at the top of the ranking for the information technology sector. Other industries that performed well this month were the construction sector, with a 1.1% increase for an index of 92, and the professional and business services sector, which increased 1%, moving the index to 304.

Across the U.S., Massachusetts improved most over other states across the TriNet population, with a 1.9% gain over July, moving the index to 379 and replacing last month’s leader, Arizona, as most improved employment index.

Across selected metro areas in the TriNet population, the Riverside, Calif. area had the highest month-over-month change with 1.7%.

Below are the key findings of the August 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:

National Report:

  • This month, the TriNet SMBeat employment index increased 0.5% from 198 to 199. The index is up 11% compared to the same time last year. The hiring rate index is the same as the last two months, staying at 69.
  • For the second month in a row, the termination rate index decreased from 60 to 59. Similarly, voluntary terminations decreased this month with the index moving from 100 to 99, a 1% change. The involuntary termination index is also down this month, moving from 39 to 38, a 2.6% change.

  Geographic Trends:

  • Massachusetts had good gains in August with a month-over-month increase of 1.9%, moving the index value to 379.
  • The Riverside, Calif. metro area had a month-over-month gain of 1.7%, moving the index value to 61.

Industry Trends:

  • The information sector enjoyed the highest month-over-month gain of 1.8%, bringing the employment index value to 718 in August.
  • The construction sector, as well as the professional and business services sector, also performed well this month, increasing by 1.1% and 1%, moving the indices to 92 and 304, 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 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.

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, which we refer to as worksite employees.