Employment Services: A Global Strategic Business Report
San Jose, CA (Vocus/PRWEB) February 14, 2011
Employment services industry is counted among the most adversely affected markets during times of crisis due to the market’s high dependence on a strong employment environment. The recession in recent years, led several companies resorting to cost cutting through massive laying-offs, freeze on new hiring, and salary cuts. Unemployment rates at the end of 2009 remained at significantly high rates in developed regions including the US, Japan, and the EU. Manufacturing industries such as automobile and construction were the hardest hit and contributed the maximum to the number of people laid off. Cost cutting measures by organizations also included bypassing employment agencies to conduct direct recruitment process, thereby further hurting the market revenues. Even in developing countries, the rate of new job creation slowed down from the robust scales witnessed during the preceding years. Bleak economic conditions across the world and the resultant fall in unemployment rendered many smaller and middle-sized companies in the employment services market susceptible to acquisitions and mergers, with larger companies holding sufficient cash reserves on the lookout for consolidating their positions.
With the global economic conditions showing signs of improvement in 2010, the employment services market is projected to recover from 2011 onwards, as stated by the new market research report on Employment Services. Pent-up demand from consumers is likely to drive demand across industries and increase industrial growth, thereby leading to a pick up in employment. However, the tentative nature of the recovery in the US and Europe means that the situation would take some more time to regain the pre-recession heights.
Europe represents the largest employment services market worldwide. Asia-Pacific is projected to lead the growth rate chart owing to rapidly developing economies such as China, India and South East Asia. Major employment service providers are foraying into the lucrative Asia-Pacific, East Europe and Latin American markets, while those who are already present in the market are strengthening services. Construction & Manufacturing represents the largest revenue-generating sector in the employment services market.
Worldwide employment services market is highly competitive and extremely fragmented with local players dominating in discrete regional markets. Major players profiled in this report include 51job, Adecco SA, Beijing Foreign Enterprise Human Resource Service Co. Ltd., CDI Corporation, China International Intellectech Corp, China International Talent Development Center, ESI International, Inc., Hays Plc, Kelly Services, Korn/Ferry International, Manpower Inc., Monster Worldwide, Pasona Inc., Poolia AB, Randstad Holding NV, and Synergie SA.
The research report titled “Employment Services: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ Billion for the world market by dividing the world into the US, Europe, Japan, Asia-Pacific, and Rest of World. For the US market, the report provides analytics for employment services by the following segments: Temporary Staffing Services, Employment Agencies, and Employee Leasing Services, while for the other regional markets analytics is provided by industry sectors: Construction & Manufacturing, Trade & Commerce, Communication & Energy, and Others.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Employment_Services_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site: http://www.StrategyR.com/
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