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Tech Employment Continues to Grow in July Despite Slowdown in Life Sciences
Date:8/2/2013

SAN LEANDRO, California, August 2, 2013 /PRNewswire/ --

  • Life sciences employment drops 1.31% as sequester cuts impact research funding
  • Influx of venture capital funding continues to boost Massachusetts tech employment  
  • Uptick in workers voluntarily leaving jobs for better employment points to increase in job seeker optimism

TriNet's SMBeat, a detailed analysis of trends in key human capital economic indicators for small businesses, reports a continued positive hiring trend across the nation, though not as strong as June. July job creation, slowed to 0.37% net growth, in comparison to 1.12% in June.

The slowing hiring trend may be an outcome of the government sequestration and its impact on small businesses. Private contractors in the life science technology sectors are especially feeling the pinch with net job losses at -1.31% in July.

Otherwise, small business job growth continues elsewhere across the United States, with the technology and wholesale/retail trade sectors leading the way with 0.96% and 0.33%net job growth, respectively.

Leading in growth this month, the Boston small business tech sector saw a 2.13% increase in employment in July as job growth was fueled by venture capital spending, which received a bump of $141 million in the second quarter of this year[1].

Overall, the improving job outlook across the United States has encouraged workers to seek out improved employment opportunities and leave their current job. Voluntary churn outpaced involuntary discharges by 0.18%, a positive sign that indicates
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SOURCE TriNet
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