$45.2bn
$XX.Xbn
260k
11,953
$XX.Xbn
The Employment and Recruiting Agencies industry places job-seekers in available positions, taking commissions from client businesses that seek capable employees. Despite a collapsing labor market in 2020, employment agency revenue expanded at a CAGR of 11.7% in the past five years, including 0.3% growth to reach $46.7 billion in 2023. Additionally, the transition to online work lowers costs and supports profit growth through 2023. Revenue growth was fueled by a 52.0% rise in 2021 alone, as the labor shortage, shift to remote work and economic recovery sparked a surge in demand for employment and recruitment agencies.
Industry revenue has grown at a CAGR of 9.6 % over the past five years, to reach an estimated $45.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Randstad Holding NV | 2,003.6 | 74.1 | 3.7 | |
Linkedin Corp | 1,383.1 | 481.2 | 34.8 | |
Asgn Inc. | 1,156.4 | 61.3 | 5.3 |
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Industry revenue is measured across several distinct product and services lines, including Permanent placement services, Executive search services and Temporary staffing services. Permanent placement services is the largest segment of the Employment & Recruiting Agencies in the US.
Companies seek long-term workers to limit high turnover rates
This industry comprises establishments engaged in listing employment vacancies, referring job applicants to potential employers and assisting companies with employee recruitment and placement. Individuals referred or placed are not employees of the employment agencies.
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NAICS 56131 - Employment & Recruiting Agencies in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
The US is facing a labor shortage, with many employers struggling to find qualified workers. This has increased the demand for employment and recruiting agencies, as employer...
Learn about an industry's products and services, markets and trends in international trade.
Transportation and warehousing employment growth drives employment and recruiting agency revenue. Temporary workers fill a rising share of these positions.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Employment and recruiting agencies benefit from being located near key markets, like major cities and metropolitan areas. This is because key markets tend to have a larger po...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Online job boards have made it easier for employers to find candidates and for candidates to find jobs. This has reduced the reliance on employment and recruitment agencies.
Learn about the performance of the top companies in the industry.
Randstad expands HR offerings to gain recruiting market share with Monster acquisition. The acquisition is a way for Randstad to expand its global reach and gain access to Mo...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
American Staffing Association rules guide agencies through labor laws. The ASA advocates for the interests of the employment and recruiting agencies industry at the federal, ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Employment and recruiting agencies can increase their profits by focusing on high-demand industries and niches, like technology, healthcare, and finance. This is because ther...
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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The market size of the Employment & Recruiting Agencies in the US industry in United States is $45.2bn in 2024.
There are 11,953 businesses in the Employment & Recruiting Agencies in the US industry in United States, which has grown at a CAGR of 1.2 % between 2019 and 2024.
The market size of the Employment & Recruiting Agencies in the US industry in United States has been growing at a CAGR of 9.6 % between 2019 and 2024.
Over the next five years, the Employment & Recruiting Agencies in the US industry in United States is expected to grow.
The biggest companies operating in the Employment & Recruiting Agencies market in United States are Randstad Holding NV, Linkedin Corp and Asgn Inc.
Operating casting agencies or bureaus and Operating employment agencies or registries are part of the Employment & Recruiting Agencies in the US industry.
The company holding the most market share in United States is Randstad Holding NV.
The level of competition is moderate and increasing in the Employment & Recruiting Agencies in the US industry in United States.