The global staffing industry generated an estimated $461 billion in revenue worldwide in 2017, according to the “Global Staffing Industry Market Estimates and Forecast: May 2018 Update” released by Staffing Industry Analysts. Three countries — the US, Japan and the UK — comprised a majority of the revenue, and the top 17 countries combined accounted for 90% of total global staffing revenue.

SIA predicts global staffing revenue will grow by 7% this year and 6% in 2019, both on a constant-currency basis. Seven of the 17 largest markets are expected to grow by double-digits this year, and none are expected to decline.

“We are seeing stronger growth in Japan, China, India and several continental European markets with slower growth in the US and the UK,” said Tony Gregoire, director of research for the Americas at Staffing Industry Analysts.

Growth in the US, the world’s largest staffing market, is expected to accelerate to 4% in 2018 from 3% in 2017. SIA predicts 10% growth in 2018 in Japan, the second-largest market, unchanged from 2017.

Published twice annually, the report provides estimates and forecasts for the staffing industry by revenue and segment, with additional labor market information including regional and historical data and a ranking of the 17 largest countries in terms of staffing industry revenue.

SIA corporate members and CWS Council members can download the full “Global Staffing Industry Market Estimates and Forecast: May 2018 Update” report online.