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April SMBeat Reports Tepid Growth in Employment Levels

May 9, 2013

SAN LEANDRO, California, May 9, 2013 /PRNewswire/ –

Oregon technology market hot, employment levels spike as region’s industry

sees largest influx of VC funding since dotcom boom

TriNet’s SMBeat
[http://www.trinet.com/hub/SMBeat/default.htm?utm_source=utm_source=SMBeat&utm_medium=utm_release=Release&utm_campaign=SMBeatApr ]
, a detailed analysis of trends in key human
capital economic indicators for small businesses, reports April job creation contracted 78
percent from March to 0.16 percent. This continues a three-month downward trend from a
strong 1.06 percent start in January, making April the weakest employment growth month
since 2009. The data contradicts recent surveys from the Silicon Valley Bank, which
reported 87 percent of polled tech firms plan to hire this year as well as a Career
Builder survey, which predicted steady hiring rates in Q2.

Tweet This [http://clicktotweet.com/r_QXN ]: SMBeat Report: April Employment Levels
show Tepid Growth, Oregon Tech employment spikes 7.8% due to VC funding influx

http://bit.ly/10F88CJ

The March Bureau of Labor Statistics report showed
[http://www.bls.gov/news.release/pdf/empsit.pdf ] a total employment increase of only
138,000 jobs for the month, a significant decrease from the 332,000 jobs added in
February. Plummeting hiring rates were largely responsible for decline in overall growth.
This outcome possibly reflects the upcoming tax liabilities expected by consumers in the
retail trade sector, which suffered a loss of 24,000 jobs.

SMBeat also reports Oregon tech companies experienced a 7.8 percent growth in April
compared to the national 1.01 percent increase industry-wide. This growth has been fueled
by the largest regional influx of Q1 venture capital funding since the dotcom boom.

Despite favorable regulatory tailwinds, Massachusetts’ Biotech companies saw a 3.3
percent net job loss, far worse than the industry norm of 0.82 percent. This loss comes as
a surprise in light of the $1 billion Massachusetts Life Science Initiative established in
2008 by Governor Deval Patrick. In addition, the average annual salary of MA biotech
employees is approximately $10,000 less than the industry standard of $104,000.

The complete SMBeat report is available here
[http://www.trinet.com/documents/smbeat/trinet_smbeat0413.pdf?utm_source=utm_source=SMBeatpdf&utm_medium=utm_release=Release&utm_campaign=SMBeatApr ]
.

About SMBeat

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.[1] TriNet generates payroll information by
tracking real-time movements within its base of approximately 5,000 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. 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 company’s SMBeat web page http://www.trinet.com/smbeat. Technical questions can be
submitted via email to smbeat@trinet.com.

About TriNet

TriNet is a trusted strategic HR partner [http://www.trinet.com ] 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) [http://www.trinet.com/solutions ] 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 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.

SOURCE TriNet


Source: PR Newswire