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Global firms hold largest shares of Mexico’s staffing market

May 28, 2014

A new report by Staffing Industry Analysts lists the top 20 staffing firms in Mexico, and ManpowerGroup (NYSE: MAN) tops the list as the largest staffing firm in Mexico with 37.6 percent of the formal staffing market. It was followed by Adecco with 18.8 percent of the formal staffing market and Kelly Services Inc. (NYSE: KELYA) with 9.1 percent.

However, A Mexican-owned firm, PAE, ranked fourth. PAE is based in Mexico City, and is a privately held firm.

Staffing Industry Analysts estimates the formal staffing market represents 38 percent of the total staffing market, which includes the formal market.

“Like a number of emerging staffing markets, Mexico is burdened by a large informal staffing market which we estimate is actually much larger than the formal market,” said John Nurthen, executive director of global research at Staffing Industry Analysts. “The informal staffing market includes many staffing firms that do not properly comply with their legal obligations, such as the payment of social security taxes. Employers need to be wary of using any staffing firm in Mexico that is not properly audited for legal and tax compliance.”

Corporate members of Staffing Industry Analysts can access the full report with all 20 firms by clicking here.