Small Business Hiring in Retail and Wholesale up 27% for This Holiday Season Compared to 2012
SAN LEANDRO, California, December 5, 2013 /PRNewswire/ --
TriNet, a leading cloud-based provider of HR services, today announced the findings of the November issue of its TriNet SMBeat. The SMBeat report is a monthly analysis of small business employment and human capital economic indicators. A key finding of the report is that on the opening of the 2013 holiday shopping season, month over month net job growth increased 25% moving to 1.44% in the retail and wholesale markets. In addition, the report data shows a year-over-year increase in hiring and a simultaneous decrease in year-over-year terminations. Both are positive economic indicators for the retail and wholesale small business sectors.
Key findings - sourced from TriNet's more than 8,000 customers and over 220,000 worksite employees in the U.S.
- Compared to November 2012, November 2013 retail and wholesale hiring is up 27%.
- Retail and wholesale terminations this November are down 19% as compared to November last year.
- California was the only state that went against the national growth trend in retail and wholesale sectors, with net job losses at -1.32%.
- In the technology sector, national net job growth increased, moving from 1.23% last month to 1.93%.
- Regionally, the Silicon Valley tech sector continued to close the job creation gap with other tech hubs across the country as net job growth jumped to 2.23%. Silicon Valley outpaced the net job growth of Denver-Boulder (0.55%), Atlanta (1.36%), and Los Angeles (1.55%).
- Only the New York Metro area outperformed Silicon Valley in the tech sector. Net job growth in the New York Metro tech sector rebounded from 0.50% in October and jumped to 2.45% in November.
In addition to the strong growth in the retail, wholesale and tech verticals, the TriNet population as a whole, comprising over 220,000 employees of small businesses, experienced a net job growth of 1.32%, nearly doubling from October's growth of 0.71%.
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 serves small and medium-sized companies in a broad range of verticals such as biotech, consulting, financial services, food services, hospitality, not-for-profit, technology and many others, who recognize that top-quality employees are the most critical competitive asset. For more information, please visit http://www.trinet.com.
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