Report : North America Online Recruitment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Job Type (Permanent and Part-Time) and Application (Finance, Sales and
Permanent Segment to Dominate North America Online Recruitment Market during 2020–2028
According to a new market research study on “North America Online Recruitment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Job Type and Application,” is expected to reach US$ 18,273.05 million by 2028 from US$ 12,009.85 million in 2021. The market is estimated to grow at a CAGR of 6.2% from 2021 to 2028. The report provides trends prevailing in the North America online recruitment market along with the drivers and restraints pertaining to the market growth. Integration of technologies in online recruitment are the major factor driving the growth of the North America online recruitment market. However, common difficulties faced in online recruitment hinder the growth of North America online recruitment market.
It is becoming apparent with the COVID-19 pandemic spreading across the United States significant challenges are faced by all industries. Thus, any impact on industries directly affects the economic development of North America. The US is the world's worst-affected country by the COVID-19 outbreak. The consequent economic downturn has led to the rise in number of jobless candidates by more than 14 million in the country, which reached 20.5 million in May 2020 from 6.2 million in February 2020. As a result, in 2020, the rate of unemployment increased from 3.8% in February to 13.0% in May in the US; the rise in unemployment rate continued in April as well with 14.4%. This also led to a standstill in recruitment process across the region thereby impacting the online recruitment market. However, post Q3 2020, the number of COVID-19 cases in the US started declining, thus triggering gradual normalization of economic activities in the country. This resulted in rise in demand of products and services across the region. Moreover, with the improved vaccine distribution and administration drives, the US witnessed a more than expected increase in job openings in February 2021. According to data released by the Job Openings and Labor Turnover Survey (JOLTS), in 2021, the number of job openings rose to 7.4 million in March 2021 from 7.1 million in February 2021. Nonetheless, the labor market has a long way to go before resuming its late-2019 status. The US hiring rate increased to 4% in February 2021 from 3.8% in February 2020. To hire people easily and rapidly while maintaining social distancing, the demand for online recruitment rapidly increased across the region
The North America online recruitment market is segmented into job type, application, and country. In terms of job type, the online recruitment market is bifurcated into part-time, permanent. In 2020, the permanent segment held the largest share North America online recruitment market. Based on application, the online recruitment market is categorized into finance, sales and marketing, engineering, IT, others. In 2020, the IT segment held the largest share North America online recruitment market.
Glassdoor, Inc.; iPlaceUSA, Inc.; itForte; Info Edge (India) Ltd. (naukri.com); LinkedIn Corporation; SH Inc; StepStone GmbH; are among the leading companies in the North America online recruitment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, LinkedIn launched a new product to assist employers in managing candidate sourcing, interviewing, and hiring. LinkedIn is also experimenting with how it can assist businesses in improving their diversity by allowing recruiters to assess the gender proportions in a pool of candidates
The report segments the North America Online Recruitment Market as follows:
North America Online Recruitment Market – By Job Type
North America Online Recruitment Market – By Application
- Sales and Marketing
North America Online Recruitment Market – By Country
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