The employment industry reached euro 417 billion (US$455.6 billion) in global revenue and helped 50 million people find work in 2015, according to the World Employment Confederation’s annual report on global private employment agencies. The WEC is an organization that represents the staffing industry on a global level.

The WEC figure is slightly higher than Staffing Industry Analysts’ estimate of US$409 billion for the staffing market in 2015; however, the methodology used by both organizations is slightly different. While the WEC measures the “employment industry,” SIA defines “staffing” revenue as revenue generated from the provision of temporary workers to business clients, as well as from “place and search” services (direct hire/permanent placement and retained search). SIA also estimates that the staffing market reached US$431 billion in 2016 and will grow by 5% in 2017.

The WEC report found the global number temporary agency workers numbered 43.3 million in 2015 and global agency sales revenue reached euro 279 billion (US$305 billion).

Across the markets covered in the report, current trends show a diversification of the employment industry: agency work had a net employment impact of more than 43 million jobs created with the US, China, Japan and India leading the ranking. In terms of penetration rate, agency work represents a limited part of the global working population averaging just 1.7%. The US leads the field at 2.2%, followed by Japan and Europe at 2% and 1.9% respectively.

Outsourcing of the recruiting function has risen steadily in the past few years. Notably, RPO adoption has grown by 32% from 2011 until today.

To view the report, click here.