Private Employment Services Sector Grows, Despite Economic Slowdown

26, February

Private employment services faced an increasingly difficult operating environment in 2018 but nevertheless ...

Private employment services faced an increasingly difficult operating environment in 2018 but nevertheless experienced positive growth in most of the segments, according to the latest Economic Report of the World Employment Confederation. With a global turnover of €473 billion and nearly 58 million people placed in jobs, this continued growth demonstrates the need for the sector’s services and the positive value they bring to labour markets worldwide.

Brussels, 26 February 2020 – The global private employment services industry reached an estimated market value of €473 billion in 2018. The new edition of the World Employment Confederation’s Economic Report shows growth in most of the service segments, with direct recruitment and RPO experiencing again the fastest expansion.

 

“Despite global trade tensions, skills shortages in certain sectors and/or regions as well as economic slowdown across countries, the private employment services sector increased its global turnover by nearly two percent compared to the previous year,” explains Even Hagelien, Chairman of the World Employment Confederation’s Economic Affairs Committee. “With the right enabling environment, we expect this trend to continue in the coming years. Our sector is well prepared to seize the growth opportunities offered by the transformational trends that are affecting the world of work.”

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