SAN LEANDRO, California, October 2, 2013 /PRNewswire/ --
- Technology SMBs still showing an increase in July with 1.38% net job growth, albeit slower than in August.
- Net job growth across SMBs in all industries slows to 0.79%, down from 1.37% in August.
The September issue of TriNet SMBeat, a monthly analysis of small business employment and human capital economic indicators, shows that despite a modest cooling off, month-over-month net job growth continued across all sectors. Strong net growth continued in the tech sector, with more significant increases seen in tech hubs outside of Silicon Valley, such as New York, Los Angeles, Denver-Boulder and Atlanta.
Key findings include:
- Tech hubs around the country, specifically New York, Los Angeles, Atlanta and Denver-Boulder, outpaced Silicon Valley in hiring. Atlanta, where many tech companies in the area provide tech services and operations targeted to large local corporations like Coca-Cola, leads net job growth at 3.31%. Followed by Denver-Boulder, Los Angeles and the New York Metro area, with increases of 1.69%, 1.55% and 1.10% net job growth, respectively. Silicon Valley saw net job growth of just 0.45% in September.
- Tech workers continue to flock to the Denver-Boulder area, where hiring has continued to grow every month by an average of 1.27% since January 2013. Here, tech workers command an average salary of $100,000. This is the highest average salary outside of Silicon Valley at $119,000. The average annual salary of tech workers across the nation is $105,000, second only to the national Life Sciences average, at $108,000.
The TriNet population, comprising over 220,000 employees of small businesses, saw positive growth across all industry verticals. Strong growth in net hiring came from the technology vertical (1.38%).
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 email@example.com.
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.
1. 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.