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US Recruitment Sector - Demand for Temporary Staffing
AM Mind Power Solutions, March 2011, Pages: 42
The report on “US recruitment Sector – Demand for Temporary Staffing” covers a detailed analysis of global recruitment industry environment with statistics on recruitment market, by geography, by industry segment and market penetration rate. It describes US recruitment industry performance, past, present and future projections; also talks about temporary and permanent staffing market. Report also covers future projections of the industry performance which helps to assess the further opportunities in the sector. We have also included industry trends and drivers accountable for any change in the industry performance. Further we have profiled major players with an overview of their business, financial growth and recent developments.
The global recruitment market is highly fragmented and resilient to macroeconomic environment comprising small and large international firms wherein barriers to market entry are fairly low and substitution is high. The U.S. staffing industry is anticipated to grow faster and add more new jobs over the next decade than just about any other industry, even taking into account the after effects of recession. The temporary staffing segment is expected to grow with a higher growth rate over a period of next five years (2010-2015E) driven by aging baby boomers, project based job opportunities, business outsourcing trend and companies overcoming from recessionary losses.
Key Findings
- In 2009 Penetration rate in major markets fell reflecting the impact of economic crisis with 1.4% and 1.3% in Europe and American markets while Japan penetration rate fell by 1.7%.
- The Global executive search industry revenues reached to USD~ billion in 2009, compared to USD~ billion in 2008 down by 32.45% and saw a slight growth in 2010 reaching to USD~ billion grew by almost 1.08%.
- US leads the market stating highest number of specialist recruitments, market value reached to USD ~ billion in 2010 compared to USD ~ billion in 2009 while in 2008 it was billion.
- Combining temporary and contract services with search and placement services, U.S. staffing industry sales resumed growth by 7.1% in 2010 reaching USD~ billion which fell by 28.77% in 2009 compared to market value in 2008.
- In recent two years there was a major change in temporary and contract hiring hit by recession, the impact was more visible in 2009 falling by 24.3 % reaching to sales USD~ billion. Those annual sales were lower than in the depth of the 2001 recession and even as far back as 1998.
- Further professional temporary staffing demand was highest in IT and healthcare sectors while lowest in legal, clinical and marketing sectors.
Scope of the Report
- The report gives a detailed analysis of the US recruitment sector with discussion market past performance, present analyses and future outlook of the industry also demand by segmentation and functional areas.
- Report discuses global recruitment industry, statistics and trends which helps to compare US recruitment sector performance with other countries and regions.
- Discusses industry players positioning, market share, profiled major players and further scope for new and existing players.
- This research report helps the domestic and international players looking for potential segment in the recruitment market.
- Present report may help temporary and permanent placement agencies to look for new prospects and formulate strategies.
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