The global staffing industry generated $490 billion in revenue worldwide in 2018;growth of 5% compared to the previous year, according to a new report byStaffing Industry Analysts, the “Global Staffing Industry Market Estimates andForecast: May 2019 Update.” But revenue growth is expected to decelerate to 4%this year.
Driving the deceleration are continentalEurope and a softer economic backdrop. Global GDP is estimated to slow to 3.3%this year from 3.6% last year.
The report also noted staffing isconcentrated in a relatively small number of global markets. Most of therevenue was generated in three countries - the US, Japan and the UK. Inaddition, the top 14 markets listed in the report represented 87% of staffingrevenue for 2018.
Of the fourteen largest markets, only Chinaand India projected to grow more than 5% next year.