Industry Analysis & Industry Trends
Temporary or agency work is a bellwether of prevailing economic conditions. Temporary workers are the first to face restructuring pressures during a downturn as companies seek to preserve the jobs of their permanent employees. However, temporary workers have the benefit of being the first to be hired during the initial recovery phase, as employers assess the strength and sustainability of the upturn. For the individual, agency work limits the risk and duration of unemployment, as the industry rebounds quickly after recession. There are over 1.5 million temporary workers in the United Kingdom, representing about 5.0% of the labour force. The United Kingdom, the United States and Japan have the largest global temporary-employment businesses... purchase to read more
Industry Report - Industry Analysis Chapter
Over the five years through 2012-13, industry revenue is expected to decline at an annualised 1.5% to total £26.7 billion. During 2012-13, industry revenue is forecast to grow by just 1.7% as the economic recovery falters and demand for temporary workers from the public sector falls due to stringent government budget cuts. This is being reinforced by general doubts among businesses about the strength of the economic recovery. Job vacancies in April 2011, at 469,000, were still two-thirds of what they were at the beginning of the recession. Industry firms looking to consolidate via mergers and acquisitions have hesitated due to the uncertain economic environment. According to XpertHR, employers have reduced their recruitment budgets during 2011... purchase to read more