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Economic Report 2023

HR services were in greater demand in 2021 than ever before, generating nearly €579bn in revenue globally, which represents an unprecedented 22.6% increase over 2020. Compared with the pre-pandemic year of 2019, the increase was equally impressive at 13.6%. These are the full-year data collected by the World Employment Confederation (WEC) for its Economic Report 2023.

Published on 17th April 2023

Data in the Economic Report 2023 by the World Employment Confederation confirms the strong rebound of the HR services sector in 2021, supporting labour markets in recovering from the Covid-19 pandemic. The sector generated €579bn in revenue globally, a 22.6% increase over 2020. All segments but outplacement grew, and most regions benefitted, except North America negatively affected by a severe ban on agency work in Mexico.

Get all facts and figures about the global private employment sector in our Report, with insights into the five HR services and the different geographical areas covered by the World Employment Confederation.

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