Key Highlights
- The employment rate in the U.S. reached 62.7% in 2023
- The global staffing industry was valued at approximately $530 billion in 2022
- 72% of employers reported difficulty filling positions in 2023
- The average duration of unemployment in the U.S. was 15.5 weeks in 2023
- 45% of workers in the U.S. are considering switching jobs in the next year
- The youth unemployment rate in the EU stood at 16.8% in 2023
- 8.4% of the global workforce was engaged in gig work in 2022
- Women hold 28% of senior management roles globally as of 2023
- The average hourly wage in the U.S. manufacturing sector increased by 4.2% in 2023
- The labor force participation rate in India reached 63.5% in 2023
- The median age of workers in Japan is 48 years as of 2023
- 65% of companies worldwide increased their remote work policies in 2023
- The average duration to fill a job opening in the U.S. was 36 days in 2023
The employment industry is undergoing a turbulent transformation in 2023, with record-low job filling rates, a booming $530 billion global staffing market, and nearly three-quarters of employers struggling to find qualified candidates, all amid shifting worker expectations and evolving workplace norms.
Employee Satisfaction and Management Practices
- 15% of employees globally are satisfied with their current work-life balance
Employee Satisfaction and Management Practices Interpretation
Global Employment Trends and Challenges
- 8.4% of the global workforce was engaged in gig work in 2022
- 65% of companies worldwide increased their remote work policies in 2023
Global Employment Trends and Challenges Interpretation
Industry and Market Valuations
- The global staffing industry was valued at approximately $530 billion in 2022
- The global temporary staffing market constituted 22.5% of the total staffing industry revenue in 2022
Industry and Market Valuations Interpretation
Labor Market and Employment Statistics
- The employment rate in the U.S. reached 62.7% in 2023
- 72% of employers reported difficulty filling positions in 2023
- The average duration of unemployment in the U.S. was 15.5 weeks in 2023
- 45% of workers in the U.S. are considering switching jobs in the next year
- The youth unemployment rate in the EU stood at 16.8% in 2023
- The average hourly wage in the U.S. manufacturing sector increased by 4.2% in 2023
- The labor force participation rate in India reached 63.5% in 2023
- The average duration to fill a job opening in the U.S. was 36 days in 2023
- 78% of HR professionals believe that employer branding influences hiring success significantly
Labor Market and Employment Statistics Interpretation
Workforce Composition and Demographics
- Women hold 28% of senior management roles globally as of 2023
- The median age of workers in Japan is 48 years as of 2023
- The average age for new hires in the U.S. is now 36 years, indicating an older workforce seeking employment from 2020 to 2023
- The percentage of disabled individuals employed in developed countries increased to 45% in 2023
Workforce Composition and Demographics Interpretation
Sources & References
- Reference 1BLSResearch Publication(2024)Visit source
- Reference 2STAFFINGINDUSTRYResearch Publication(2024)Visit source
- Reference 3SHRMResearch Publication(2024)Visit source
- Reference 4PWCResearch Publication(2024)Visit source
- Reference 5ECResearch Publication(2024)Visit source
- Reference 6OECDResearch Publication(2024)Visit source
- Reference 7MCKINSEYResearch Publication(2024)Visit source
- Reference 8LABOURBUREAUNEWResearch Publication(2024)Visit source
- Reference 9STATISTICSResearch Publication(2024)Visit source
- Reference 10WBGINVESTMENTCLIMATEResearch Publication(2024)Visit source
- Reference 11GRANDVIEWRESEARCHResearch Publication(2024)Visit source
- Reference 12EREResearch Publication(2024)Visit source