The financial success of the Employment and Recruiting Agency industry is closely connected to the broader economy and the unemployment rate in Canada. Economic conditions experienced drastic improvement at the onset of the five-year period to 2017, resulting in several initial years of strong revenue growth. The industry's corporate clients have achieved steady profit growth and have benefitted from gradual declines in national unemployment. Over the next five years, industry operators are anticipated to benefit from further improvement in the Canadian labour market. The unemployment rate is forecast to steadily decline and corporate profit is expected to increase through 2022, providing clients with additional cash to outsource hiring and recruiting activities to the industry's agencies. As a result, IBISWorld anticipates industry revenue will increase.
Operators in this industry list employment vacancies and select, refer and place job seekers into permanent or temporary employment positions. Individuals placed into these new positions are not employees of this industry’s agencies.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.