Some employment figures/research to share… The October issue of TriNet SMBeat, a monthly analysis of small business employment and human capital economic indicators, showed that month-over-month net job growth continued across the United States. Construction had the most significant jump with 3.35% in net job growth in October coming mainly from Texas, California and Florida. Technology continued to see a month-over-month increase with 1.30% in net job growth across all major tech hubs except Denver.
Key findings—sourced from TriNet ‘ s more than 8,000 customers and over 220,000 worksite employees in the U.S.
- Construction hiring has grown steadily throughout 2013 with an average of 1.61% growth per month. October brought a new high in 2013 with 3.35% net job growth, surpassing the previous high of 3.09% recorded earlier this year in March.
- Texas, California, and Florida lead the country in new small business construction jobs. Texas has seen continuous positive job creation in the construction sector since October 2012, averaging 3.60% net job growth per month. In October, Texas had 5.53% net job growth, much of it driven by activity in the energy and real estate sectors. California followed Texas, with a 3.23% net job creation in construction. Florida’s net job growth in this area increased by 52% in October, moving from 0.86% to 1.30%.
- Overall the tech sector continued to experience a strong trend in hiring in October, though slightly slower than September. Nationally, it saw 1.30% net job growth, decreasing from last month’s growth of 1.55%. New York, Los Angeles, and Atlanta continue to outpace Silicon Valley’s growth. Silicon Valley, though, closed the gap with other tech hubs across the country with net job growth jumping to 1.02% in October. On the flip-side, the Denver-Boulder area saw a significant decrease, dropping to 0.45% in October, compared to an increase of 1.81% last month.
- The tech sector continued to lead the post-recession economy in job growth averaging 1.75% monthly net job growth since May 2009.