SAN LEANDRO, California, October 6, 2014 /PRNewswire/ --
Technology, Financial and Construction Industries Led in Net Job Growth Throughout the United States
TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its September 2014 issue of TriNet SMBeat, a monthly analysis of small to medium-sized business (SMB) employment and human capital economic indicators. Among other findings, the report finds that in September, overall net job growth increased at only 1.71%, down from the previous month's rate of 1.84%. This change was due to the fact that hiring decreased to 4.33% in September, down from 4.76% in August. At the same time, rate of terminations slowed to 2.62%, lower than last month's 2.92%.
Below are key findings of the September 2014 TriNet SMBeat Report. The data is sourced from TriNet's over 9,000 clients and more than 258,000 worksite employees in the U.S.:
- All vertical markets posted positive job growth in September. The technology, financial services and construction sectors led the way with 2.91%, 1.60%, and 1.42% net job growth, respectively.
- For the first time in 2014, Los Angeles led the technology sector with 4.68% net job growth, followed by the New York Metro at 3.20%. The Boston, Atlanta, Silicon Valley and Denver-Boulder areas also posted solid growth in September, with 3.09%, 2.96%, 2.40% and 1.66%, respectively.
- Florida led the construction vertical with 1.37% net job growth. California also showed good growth in this sector with 1.03% net job growth.
1. As of June 30, 2014. Data is sourced from full-time and salaried employees of TriNet's clients, which TriNet refers to as worksite employees.
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.
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