Recruitment industry contributes £43bn to the UK economy.

The Recruitment & Employment Confederation’s latest Recruitment Industry Status Report demonstrates the huge role that recruitment and staffing firms have played in driving the recovery for firms and workers.

 

Research found that last year:

– The recruitment and staffing industry contributed £42.9 billion of direct Gross Value Added (GVA) to the UK economy1, a 21.7% increase on 2020 and a rise on pre-pandemic levels

– 22.4 million temporary or contract workers were placed

– 540,000 permanent placements were made

– The sector and other related industries employed over 200,000 more people in more than 30,000 businesses, 6.5% higher than the previous year

 

The same research predicts the following for the future:

– The number of staff employed in recruitment activities is set to grow by 6.9% in 2022, helping the growth of the UK economy

– Client volumes are set to grow by 14.3%

– The recruitment sector’s contribution to the UK economy is set to eclipse £51.3 billion by 2025

– Roughly a 6% growth is expected after 2022

 

Our thoughts

We are thrilled to learn that the recruitment and staffing industry is making such a positive impact on the UK economy, and as the end of the year approaches, we predict that these positive trends will continue into the upcoming new year.

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