The global staffing industry is projected to expand by 9% this year, following growth of 21% in 2021, according to the latest “Global Staffing Market Estimates and Forecasts” report by Staffing Industry Analysts.
It estimates that the staffing industry generated $599 billion in revenue worldwide in 2021.
Three countries — the US, Japan and the UK — comprise the majority of the revenue, while the top 15 countries combined accounted for 88% of total global staffing revenue. Eighty-six percent of that revenue consisted of temporary staffing and the remainder by place and search.
The SIA forecasts reflect the view that the worst of Covid-19 has passed. However, there is still some downside risk due to the pandemic, skills shortages, supply chain disruption, inflation and the war in Ukraine.
Staffing revenue in the Americas (North and South America) was $195 billion last year. Staffing revenue in Europe, the Middle East and Africa was $244 billion, and revenue in the Asia Pacific totaled $159 billion.
Market developments from 2019 to 2021 present a mixed picture, with several countries failing to recover to pre-pandemic levels and France being the only one of the 15 largest staffing markets where staffing revenue was 9% lower than 2019 in 2021.
The complete “Global Staffing Industry Market Estimates and Forecasts” report is available for SIA corporate members.