Global Temporary Labour Market

Temporary Labour Market Size, Share, Growth Analysis, By Type(Unskilled, Clerical), By End-User(Healthcare, Manufacturing) - Industry Forecast 2024-2031


Report ID: SQSG20N2007 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 72 | Figures: 75

Temporary Labour Market Insights

Global Temporary Labour Market size was valued at USD 476406.4 million in 2019 and is poised to grow from USD 505100.784 million in 2023 to USD 768134.5 million by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

Labours whose primary employment is an occasional, casual, or seasonal worker; daily workers or other people who rely on an employer, work for a short or long period of time, work seasonally or temporarily, or are looking for work. Temporary labour can be used for a variety of objectives. Employing these personnel to repair ageing infrastructure is typically convenient for businesses. Similarly, in retail businesses, where footfall is especially high during public holidays and holiday seasons, short-term staff are engaged to assure consumer pleasure. Temporary employees are also used to meet the increasing demand for on-demand delivery services related to internet shopping. Organizations that use temporary labour services can reap various benefits, including lower recruiting expenses and savings on employee benefits and training expenditures. Furthermore, firms can choose to put these workers on non-priority activities while allocating their resources to core jobs. Such advantages are intended to entice businesses to hire temporary workers. Hiring temporary workers frequently causes permanent staff to feel insecure, demoralises them, and reduces their productivity, which is detrimental to an organization's growth.

As incumbents in several industries, including construction, healthcare, logistics, information technology (IT), and telecommunications, have deployed temporary labour on various growth initiatives, the market has grown dramatically. The need for temporary labour is expected to rise in the future years as a result of an increase in the number of smart city initiatives announced by various governments, propelling the market throughout the projected period.

US Temporary Labour Market is poised to grow at a sustainable CAGR for the next forecast year.

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FAQs

Temporary Labour Market size was valued at USD 476406.4 million in 2019 and is poised to grow from USD 505100.784 million in 2023 to USD 768134.5 million by 2031, growing at a CAGR of 6% in the forecast period (2024-2031).

As part of the attempts to obtain a competitive advantage in the market, the corporations are focused on the development of new goods and services. Market incumbents are forging strategic alliances and conducting mergers and acquisitions to expand their businesses and improve their market position globally. These firms are developing new goods and services in order to get a competitive advantage in the industry. ManpowerGroup Inc., has introduced IntelliReach, which will digitalize management tools. 'ManpowerGroup', 'Adecco Group', 'Randstad', 'Kelly Services', 'Allegis Group', 'Hays plc', 'Robert Half', 'Recruit Holdings', 'Staffline Group', 'Synergie', 'Amadeus FiRe AG', 'PeopleReady', 'Labor Ready', 'Gevity', 'TrueBlue', 'Express Employment Professionals', 'Aquent', 'The Select Group', 'Aerotek', 'Volt Information Sciences'

The growing need for temporary IT workers is propelling market expansion. Additionally, the benefits of lower hiring costs, as well as savings on employee benefits and training costs, are fueling market expansion.

Enterprises frequently suffer a labour shortage, particularly during peak seasons or other emergencies. During such times, businesses often turn to temporary labour services. Furthermore, as technology advances, the demand for people with particular talents in design engineering, digital marketing, and software application, among others, grows. Temporary employees can assist companies in filling this need. Rising transportation and logistics demand is driving the expansion of the targeted market. Temporary employees have more options in terms of the organisation they wish to work.

Europe dominated the market in 2021. The region's market is expanding due to increased need for temporary labour in the car manufacturing industry. It will continue to develop as the number of small and medium-sized firms (SMEs) in the region grows, and many SMEs choose to hire temporary workers to decrease recruiting expenses.

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Global Temporary Labour Market

Product ID: SQSG20N2007

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