California Biotechnology and Technology Firms Seeing Continued Job Gains While Hiring Stalls at New York-Based Finance Companies
TriNet Member Companies Now Creating Jobs at Rate Equal to Eight Times National Average
SAN LEANDRO, CA -- (Marketwire) -- 01/22/13 -- TriNet's SMBeat, a detailed analysis of trends in key human capital economic indicators for small businesses, reports that net TriNet employment levels grew 0.95 percent in December, or more than eight times the national average. The rate is up slightly from November's growth rate of 0.27 percent.
On a regional basis, in December, employment levels at Southern California biotechnology firms saw a net job increase of 1.24 percent, and the San Francisco Bay Area saw a net job increase of 1.2 percent, while net jobs at finance companies in New York City decreased 2.79 percent.
The U.S. Bureau of Labor Statistics announced the creation of 155,000 new jobs for the US economy in December. Translated to percentage terms, this represented only a 0.12 percent increase over November employment levels. By contrast, TriNet member company employment levels increased 0.95 percent in December, or more than eight times the national average.
Hiring rates at TriNet companies climbed 24 percent to a total of 3.42 percent in December, with terminations decreasing slightly to 2.5 percent, split between 1.25 percent voluntary quits and 1.25 percent involuntary discharges, resulting in net improved job growth in December.
The complete SMBeat report is available here.
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