SOURCE: TriNet HR Corporation

TriNet HR Corporation

May 04, 2016 09:00 ET

SMBeat Report Shows Positive Growth Across Several Industries and Significant Regional Increases

SAN LEANDRO, CA--(Marketwired - May 04, 2016) - TriNet (NYSE: TNET), a leading cloud-based provider of HR services, today announced the findings of its May 2016 SMBeat®, an analysis of small and midsize businesses (SMB) employment and human capital economic indicators. May's report features analysis of employment trends, by industry, for the month of April. The report focuses on industry and geographic trends on a national scale, and shows changes in employment stability and growth in major industries.

This month, the SMBeat index increased 1.7%, moving from 534 to 543. Year over year, the TriNet SMBeat employment index is up 27%.

Below are detailed findings of the April 2016 TriNet SMBeat report. All data related to employment growth and losses are sourced from the TriNet population of more than 13,000 clients and over 324,000 worksite employees in the U.S.1

In April, total nonfarm private sector employment across the U.S. increased by 119,000 jobs. The education and health services sector had the biggest gains, adding 46,000 jobs nationwide. Employment in the leisure and hospitality sector also performed well, increasing by 44,000 jobs. Manufacturing incurred the most job losses of any sector, decreasing by 20,000 jobs.2 The table below details the job gains and losses by NAICS industries.

Industry Increase in Number of Employees
Education and Health Services, NAICS 61-62 +46,000
Leisure and Hospitality, NAICS 71-72 +44,000
Retail Trade, NAICS 44-45 +31,000
Construction, NAICS 23 +21,000
Professional and Business Services, NAICS 54-56 +14,000
Financial Activities, NAICS 52-53 +8,000
Other Services, NAICS 81-82 +5,000
   
   
Industry Decrease in Number of Employees
Information, NAICS 51 -2,000
Transportation and Warehousing, NAICS 48-49 -4,000
Agricultural, Mining, and Utilities NAICS 11-22 -9,000
Wholesale Trade, NAICS 42 -15,000
Manufacturing, NAICS 31-33 -20,000

Massachusetts improved most over other states across the TriNet population, seeing a month-over-month index increase of 3.3%. The Los Angeles area had the highest month-over-month change across metro areas in the TriNet population, with an increase of 3%.

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.

About TriNet

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

1 As of March 31, 2016. Data is sourced from full-time and salaried employees of TriNet clients, whom we refer to as worksite employees.

2 The TriNet National Employment Report measures the monthly changes in total U.S nonfarm private employment derived from actual data of client companies served by TriNet. All reported statistics are also seasonally adjusted using the U.S. Census Bureau X12-ARIMA methodology, unless otherwise indicated. All reported months follow the Bureau of Labor Statistics U.S. jobs report timeline covering the 13th of the previous month to the 12th of the current month.

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