Global staffing revenue is projected to decline between 14% and 37% in this year, according to a new report by SIA. Growth is expected to resume in 2021.
Three scenarios for this year are included in the report — the 14% decline in worldwide staffing revenue represents the most optimistic estimate while the 37% decline represents the most-dire prediction. A middle forecast, the “base scenario,” calls for a decline in global staffing industry revenue of 24% this year.
The report contains projections for 2020 and 2021 with three scenarios (shorter outbreak, base case, longer outbreak). While the base scenario is used predominantly in the report for the sake of simplicity, it should not be taken to imply that it is necessarily regarded as the most likely outcome. Increases are also in constant currency.
US staffing revenue is expected to fall by 21%, according to the base case. The largest declines are expected in France and Italy; staffing revenue is slated to decline by 39% in each of those countries.
Looking at next year, US staffing revenue is expected to grow by 14% in the base case scenario.
The full report, “Global Staffing Industry Market Estimates and Forecast: May 2020 Update,” is available to corporate members of SIA.