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Los Angeles, CA (PRWEB) May 3, 2012
Recession place of recruitment agencies and industry working in a difficult situation, with the reduction in revenues of 21.0% in 2009 alone. While the improvement of the labor market is likely to cause revenues to increase by 6.1% in 2012, the stubbornly high unemployment rate has slowed growth. Many companies have delayed taking decisions in the light of an uncertain economy. According to IBISWorld analyst Kevin Culbert, this trend has led to the performance of the sector by reducing the number of placements. In the five years to 2012, IBISWorld estimates that revenues will fall at an annualized rate of 3.0% to $ 15.3 billion.
Employment
agencies to provide customers with a variety of services, including permanent placement, temporary personnel and outsourcing of HR functions. After the recession, revenues declined in most services, with the exception of outplacement, which helps laid-off workers find new employment. In addition, many customers have made in-house recruitment functions to reduce costs, further reducing demand for its abundance of skilled workers looking for a job. In times of low unemployment, finding qualified applicants can be difficult because most workers are employed. Appropriate since the work is readily available in today’s economy, Culbert said, most companies can find employees to work without the help of an agency. Industry employment agencies and recruitment is and will remain highly fragmented, no single company accounts for more than 5.0% of segment revenue, and the four largest companies hold only about one tenth of the market
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With so many workers seeking employment and businesses that use fewer services for employment, business operators who use the tactics of competitive prices to attract new customers and retain existing ones. Although this factor has led to lower profit margins during the recession, increased demand should increase its profits in 2012. However, lower margins caused some players to leave the area, while the big players have had the opportunity to acquire small businesses. In the five years to 2012, IBISWorld estimates that the number of companies operating in this sector will decrease. Industry performance should improve as the decline in unemployment rates, and businesses are showing signs of continued growth in 2013. Within five years until 2017, IBISWorld forecasts that revenue will increase at an annualized rate. For more information, visit the employment and recruitment agencies to report page IBISWorlds in American industry.
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IBISWorld Industry Report
key themes
Employment and recruitment agencies vacancies in addition to the list of referring and placing job seekers. The persons referred or placed are not employees of employment agencies.
Industry performance
Summary
key external factors
current Performance
Industry Outlook
life cycle of the sector
Products and Markets
Supply Chain
Products and Services
main markets
Globalization and Trade
Business Places
Competitive Landscape
concentration of market share
The key success factors
the structure of cost parameters
barriers
Large Enterprises
Terms of Use
Capital Intensity
Key Statistics
industry data
annual change
Key relationships
About
IBISWorld Inc.
Recognized as the nations most reliable source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis of all industries of the United States. With a large online portfolio, valued for its depth and scope, the company equips clients with the insight needed to make better decisions. Headquartered in Los Angeles, IBISWorld serves a range of services, professional services and government agencies in over 10 locations worldwide. For more information, visit the website or call 1-800-330-3772 http://www.ibisworld.com.
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