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2024 U.S. Industry Statistics & Market Forecast - Employment Placement Agencies
Market Size & Industry Statistics
The total U.S. industry market size for Employment Placement Agencies:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Employment Placement Agencies industry include:- Increased use of technology and automation in recruitment processes
- Rise of remote work and virtual recruiting
- Growth in temporary and contract staffing
- Preference for niche staffing focusing on specific industries
- Expanding role of social media in talent acquisition
- Emphasis on recruiting for diversity and inclusion
- Implementation of data analytics for improved matchmaking
- Greater importance on employer branding
- Incorporation of artificial intelligence for screening and matchmaking
- Legal and regulatory changes impacting hiring practices
- Economic fluctuations affecting client hiring volumes
- Increase in job-seeker expectations around flexibility and benefits
- Shift towards more personalized candidate experiences
- Growing competition from online platforms and freelance marketplaces
- Expansion in global talent pools due to less restrictive geographical limitations
Product & Services Breakdown
Research products and services in the Employment Placement Agencies industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Permanent (Direct Employee) Placement Services |
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Independent Contractor Placement Services |
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Temporary Staffing Services |
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Temporary Staffing - Office/Clerical And Administrative Support Staff |
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Temporary Staffing - Industrial/Trades Staff |
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Temporary Staffing - Health Care Staff |
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Temporary Staffing - Information Technology (It) Staff |
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Management And Coordination Of Temporary Help (Program Management At Client's Location) |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Employment Placement Agencies company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Employment Placement Agencies industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
|
| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Employment Placement Agencies measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 3% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Business and Financial Operations Occupations | 9% | |||
| Business Operations Specialists | 8% | |||
| Healthcare Practitioners and Technical Occupations | 5% | |||
| Office and Administrative Support Occupations | 14% | |||
| Production Occupations | 16% | |||
| Assemblers and Fabricators | 7% | |||
| Miscellaneous Assemblers and Fabricators | 6% | |||
| Other Production Occupations | 6% | |||
| Transportation and Material Moving Occupations | 24% | |||
| Material Moving Workers | 22% | |||
| Laborers and Material Movers | 20% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 14% | |||
Employment Placement Agencies Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Employment Placement Agencies industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Employment Placement Agencies industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Employment Placement Agencies industry. |
Source:
Innovation News
- Jan 29, 2024: Staffing Logistics trademarks "STAFFING LOGISTICS" - Employment agencies; Employment agency services; Employment agency services
- Jan 23, 2024: Elite Hospitality Staffing trademarks "ELITE EVENT CENTER" - Catering; Catering services; Food preparation services; Catering services for the provision of food and drink; Catering services for weddings; Catering services for indoor events; Hospitality services in the nature of provision of food and drink; Providing banquet and social function facilities for special occasions; Providing general purpose facilities for business conferences, trade shows, exhibitions; Providing general purpose facilities for wedding receptions, conferences, birthday parties, social events and gatherings, business events and meetings, ceremonies, and parties; Providing social meeting, banquet and social function facilities; Rental of conference rooms; Rental of banquet and social function facilities for special occasions
- Jan 19, 2024: Triumph Staffing trademarks "TRIUMPH STAFFING" - Professional staffing services in the field of medicine
- Dec 28, 2021: Good Type raises $2 million in funding.
- Dec 20, 2021: FactoryFix raises $10 million in funding.
- Dec 01, 2020: FactoryFix raises $1 million in funding.
- Apr 21, 2016: Skillgigs patents System And Method For Generating A Three-dimensional Resume
Recent Federal Contracts for Employment Placement Agencies
- Mar 25, 2024: RVET OPERATING LLC (Chesapeake, VA) awarded $19,280
- Mar 22, 2024: MANPOWERGROUP PUBLIC SECTOR INC. (Falls Church, VA) awarded $4,648
- Mar 21, 2024: SUMO MEDICAL STAFFING, LLC (Draper, UT) awarded $48,523
- Mar 12, 2024: VIAKORP CORP (Williamsburg, VA) awarded $3,218
- Mar 04, 2024: LINDHOLM & ASSOCIATES, INC. (Lusby, MD) awarded $18,590
- Feb 29, 2024: RIVIDIUM INC. (Vienna, VA) awarded $635,505
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