April SMBeat Reports Tepid Growth in Employment Levels
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
, 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
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
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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.