Recruiters contributed £36bn to UK economy in 2020 despite Covid

The wider recruitment industry contributed £35.9bn to the UK economy in 2020, according to the new Recruitment & Employment Confederation (REC) ‘UK recruitment industry status report 2020-21’, released this week.

The figure reflects an 11.5% drop in Gross Value Added (GVA) from £40.5bn in 2019, yet still “shows the resilience of the sector during the worst recession for 300 years”, a REC statement said. The industry includes not only agencies, but managed services providers and supply chain partners.

Other highlights from the report: 

  • £32.7bn of the GVA came from temporary/contract placement activity
  • £3.2bn came from permanent placement activity
  • 30,295 enterprises were operating across the UK recruitment industry at the start of 2021, showing a 2% drop on the number at the start of 2020
  • 110,300 staff were employed by the broader recruitment industry, including those furloughed throughout the pandemic
  • 450,400 permanent placements were made by the recruitment industry in 2020, 55% fewer than in 2019.
  • On any given day in 2020, 980,100 temporary/contract workers were on assignment.

See the January 2022 issue of Recruiter for more insight from the report.

APPOINTMENTS: 23-27 MAY 2022

This week’s appointments include: AMS, C4S Search, Frontline Recruitment, iSource Group, Kingdom Group, Poplulus Select, RMS, Talent.com

People 23 May 2022

CONTRACTS & DEALS: 23-27 MAY 2022

This week’s new contracts & deals include: Sky Recruitment Solutions Huddersfield

Contracts 23 May 2022

NEW TO THE MARKET: 23-27 MAY 2022

This week’s new launches include: AMS, Operam Education Leadership Recruitment

New to Market 23 May 2022

AMS welcomes Stuart back as CFO

AMS, a global provider of talent outsourcing and advisory services, has welcomed Gordon Stuart back to the business as chief financial officer, the company has announced.

People 19 May 2022
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