Temporary Staff Services in Australia Industry Market Research Report Now Updated by IBISWorld
Melbourne, Australia (PRWEB) September 13, 2014 -- Prior to the global financial crisis, the operators in the Temporary Staff Services industry in Australia benefited from a trend of increased outsourcing, a strong economy with low unemployment and a strong appetite from the Mining division for labour, amid booming commodities prices. “Post-crisis, the industry suffered from a revenue decline in 2009-10, due to rising unemployment and weaker demand for temporary labour,” according to IBISWorld industry analyst Alen Allday. However, the Australian economy weathered the global downturn relatively well, as growth in the housing sector stabilised and mining output increased rapidly. Many other sectors within the economy returned to growth, fuelling demand for new staff and thus for industry services.
Industry revenue returned to growth in 2010-11, as economic growth drove demand for temporary staff across a wide range of downstream industries. However, a weaker Mining division and economic uncertainty in 2012-13 and 2013-14 led to industry revenue declines for these years. Revenue growth is expected in 2014-15, as the unemployment rate remains low. In the five years through 2014-15, industry revenue is estimated to increase by an annualised 1.7% to $19.3 billion. This includes a forecast increase of 3.5% in 2014-15. “The moderate revenue growth of the past five years has been accompanied by increases in industry wage levels and higher industry employment numbers,” says Allday. Enterprise numbers have also increased over the past five years due to low barriers to entry, with more companies establishing operations in regional areas. The industry exhibits low levels of market share concentration. Major players include Skilled Group Limited, Chandler Macleod Group Limited, Manpower Services (Australia) Pty Limited and Adecco Holdings Pty Limited.
Employment outsourcing has become well established in Australia over the past two decades. As a result, temporary staff services are expected to grow only modestly over the next five years. This is likely due to the mature nature of the Temporary Staff Services industry. The mining and energy sectors are expected to remain key growth drivers for the industry, despite weaker global growth hindering commodity demand and causing prices to decline.
For more information, visit IBISWorld’s Temporary Staff Services industry in Australia report page.
Operators in the industry provide temporary staffing solutions for client companies on a fee or contract basis. Temporary staff services companies provide their own staff to client businesses, to carry out temporary assignments. These temporary staff members work under the control of the client at the client's work site for operational purposes, but remain legally employed by (and are paid by) the temporary staff provider.
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IBISWorld industry Report Key Topics
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.
Gavin Smith, IBISWorld, http://www.ibisworld.com, +61 396553838, [email protected]
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