Recruitment Industry Trends

Posted in News on 21 Nov 2014

Turnover across the recruitment industry reached £28.7 billion in 2013/14 according to research conducted by the REC. At 1.9% of the UK's 2013 GDP this represents annual growth of 8.2% but still remains 37% below its pre-recession peak.

The legal services and recruitment industry are almost on a par in terms of gross revenues - in 2013 the legal services market was valued at £26.8 billion which would mean it makes up about 1.79% of the UK's GDP.  

In August of this year The Law Society predicted growth in real turnover in legal services of 3.8% in 2014, jumping to 4.9% in 2015. A bullish REC's forecast for the next 3 years is also positive - forecasting that turnover of the industry will grow by 9.0% in 2014/15, 9.0% in 2015/16 and 8.7% in 2016/17.

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