Insights

The US is home to a diverse and highly skilled workforce. Estimated at over $200 billion, the US market is considered robust over the medium term. The 10% contraction forecast in 2023 is unsurprising given the macroeconomic backdrop and it follows growth of 34% in 2021 and 20% in 2022. The sheer size of the market allows recruitment firms to scale their operations and tap into various sectors and geographic regions.

Beyond cyclical factors, the US staffing industry is benefiting from growth drivers such as greater acceptance of contingent work arrangements and a shift to remote working that has enlarged the accessible talent pool, as well as the further development and adoption of staffing platform technology. Looking ahead to 2024, 3% growth is projected in the US staffing market.