Mountain View, California — December 11, 2019 — Staffing Industry Analysts (SIA), the global advisor on staffing and workforce solutions recently released its latest Global Staffing Industry Market Estimates and Forecast report. Published twice annually, the Forecast report covers estimates and forecasts for the staffing industry by revenue and segment, with additional labor market information, including regional and historical data and a ranking of the 14 largest countries in terms of staffing industry revenue.
The report estimates that the staffing industry generated USD 491 billion in revenue worldwide in 2018 (EUR 416 billion). The US, Japan and the UK make up a majority of the revenue; and the top 14 countries combined account for 87% of total global staffing revenue. Eighty-nine percent of that revenue was made up by temporary staffing and the remainder by place & search.
SIA predicts that global staffing revenue growth will decelerate from 5% in 2018 to 2% in 2019, driven by global economic slowdown that has been heavily weighted toward trade and manufacturing, with an improvement to 3% forecasted for 2020 as part of a projected mild pickup in global GDP growth. Nine of the 14 markets detailed in the report are projected to grow revenue in 2020: China (18%), India (10%), Spain (4%), Japan (3%), UK (3%), US (3%), Australia (2%), Canada (2%) and France (2%).
“With contingent workforce solutions advancing across industries and geographies, our latest global forecast report addresses growth trends as well as macro-economic and regulatory environments in major staffing markets worldwide,” said Barry Asin, SIA President. “We should see global staffing revenue approach 3% growth next year as part of a mild recovery to the current global economic slowdown, though we acknowledge that there are a number of external economic and political factors that could impact this recovery.”
The full Global Staffing Industry Market Estimates and Forecast: November 2019 Update report is available for SIA Corporate and CWS Council Members.
About Staffing Industry Analysts (SIA)
SIA is the Global Advisor on Staffing and Workforce Solutions
Elevating the Workforce Solutions Ecosystem
Founded in 1989, SIA is the global advisor on staffing and workforce solutions. Our proprietary research covers all categories of employed and non-employed work including temporary staffing, independent contracting and other types of contingent labor. SIA’s independent and objective analysis provides insights into the services and suppliers operating in the workforce solutions ecosystem including staffing firms, managed service providers, recruitment process outsourcers, payrolling/compliance firms and talent acquisition technology specialists such as vendor management systems, online staffing platforms, crowdsourcing and online work services. We also provide training and accreditation with our unique Certified Contingent Workforce Professional (CCWP) program.
Known for our award-winning content, data, support tools, publications, executive conferences and events, we help both suppliers and buyers of workforce solutions make better-informed decisions that improve business results and minimize risk. As a division of the international business media company, Crain Communications Inc., SIA is headquartered in Mountain View, California, with offices in London, England.
Media Contact
Jennifer Arcuni, Communications Director, Staffing Industry Analysts
jarcuni@staffingindustry.com | +1 650-390-6171 | www.staffingindustry.com
