SAN LEANDRO, California, September 5, 2013 /PRNewswire/ --
Regional technology hubs outperform Silicon Valley/Bay Area
- Technology, construction and life sciences show biggest growth in net hiring
- Women in Boston and Silicon Valley have smallest salary gap compared to national average of 23%
The August issue of TriNet SMBeat, a monthly analysis of small business employment and human capital economic indicators, shows a month-over-month net job growth in white-collar sectors, particularly technology. On the gender side, the report shows a closing of the female/male worker salary gap in some regions and job functions.
Key findings include:
- Technology hubs of Boston, New York and Atlanta achieved greater than 2% job creation, outpacing Silicon Valley at 1.12%. Key regional technology hubs have been outperforming Silicon Valley in net job growth since March 2013.
- Start up and technology firms are gravitating to regions outside Silicon Valley as a result of favorable changes in regulation, influx of VC funding and healthy ecosystems that foster tech growth such as a strong source of qualified professionals.
- Women are closing the female/male worker salary gap in some regions and job functions.
- Women tech-workers in Silicon Valley/Bay Area and Boston have lowest salary gap compared to their male counterparts. The gap is 18.5%, compared to a national average of 23%.
- Women in executive positions in the Silicon Valley/Bay Area perform the best in female/male salary comparisons with a gap of just 3%.
- Women in software engineering positions in New York Area perform the best in female/male salary comparisons with a 9.1% gap
- The TriNet population, comprising over 200,000 employees of small businesses, saw positive growth across all industry verticals. The biggest growth in net hiring came from the technology (1.49%), construction (1.48%) and life sciences (1.01%) sectors.
Please visit TriNet SMBeat to read the full report.
About TriNet SMBeat
TriNet SMBeat provides a detailed analysis and a predictive forecast for trends in key human capital economic indicators for small businesses. All reported statistics are seasonally adjusted unless otherwise indicated. All reported months run from the 13th of the previous month to the 12th of the current month. TriNet generates payroll information by tracking real-time movements within its base of approximately 7,000 entrepreneurial businesses whose employees earn approximately $100,000 in annual base salary. These companies fall primarily into three broad industry segments: technology, professional services, and financial services. TriNet 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. Additional details can be found on the TriNet SMBeat web page http://www.trinet.com/smbeat. Technical questions can be submitted via email to firstname.lastname@example.org.
TriNet is a trusted strategic HR partner to small businesses, providing critical HR-related services on an outsourced basis. TriNet's solutions help contain costs, minimize employer-related risks, and relieve administrative burden to keep an entrepreneur's focus on their core business functions. From employee benefits and payroll processing to high-level human capital consulting, TriNet's Professional Employer Organization (PEO) expertise and best in class systems relieve clients of many of the day to day administrative burdens that distract them from building and growing their businesses. TriNet specializes in serving fast-moving companies in fields such as technology and financial services, who recognize that top-quality employees are the most critical competitive asset. 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.
- Compared to the overall TriNet tech sector work-site employee base
- The TriNet SMBeat has adjusted the monthly reporting cycle to end on the 12th of the month, to mirror the methodology of the US Bureau of Labor Statistics.