Blockfreelancer is the platform for the global labor Market built on blockchain technology, to change the way
employees and employers meet. Blockfreelancer will create an ecosystem where job seekers can decide to be a
full-time employee or a freelancer.
U.S. Employment - Statistics & Facts
The most regularly referenced economic indicator for the state of employment in the United States is the
unemployment rate. The unemployment rate is the share of the labor force currently without a job but seeking
employment. In 2016, the civilian labor force of the United States numbered 159.19 million. In economic
terms, a distinction is made between the labor force and the general population. The employment
rate evaluates the share of the total population (excluding institutionalized persons) current engaged in
employment.
There is a multitude of reasons why members of the general population are outside of the civilian labor force.
Some such reasons are desirable, such as early retirement, while others are unavoidable, such as long-term
illness or caring for others. However of great concern for policymakers is the proportion of the population
who are unemployed so long they lose hope or the desire to continue searching for a job. This phenomenon
has prompted economists and concerned members of the public to raise awareness that the long-term
unemployment rate in the United States is actually higher than government statistics suggest.
Like many countries around the world, the United States is struggling with youth unemployment rates higher
than the national unemployment rate. In March 2017, the unemployment rate for those aged 16 to 24 was 9.1
percent. In contrast, the national figure at the time was 4.5 percent. These rates can partially explain why 35
percent of Millennials considered the economy and employment the most important issue for the next
president prior to the 2016 U.S. elections.
Looking to the future, young people may look towards training in industries where job numbers are projected
to increase.
Reference to existing freelancer platform: freelancer.com: on the 20th June 2018 this platform has
recorded an ever-growing Total Users: 28,810,810Projects Posted 14,145,040. fiverr.com has tripled the total
volumes of freelancer.com even with all the obstacles surrounding the labor market which only
BLOCKFREELANCER can solve with it blockchain uniqueness, this shows that the freelancer and recruiters
industry has great potential growth and will be more lucrative using Blockchain technology.
2.1. The staffing industry in the U.S.
The staffing industry in the U.S. - Statistics & Facts
Staffing firms operate within the business services industry, finding workers for client companies. Unlike
recruitment companies, staffing firms primarily deal with temporary and contract job positions, although not
necessarily exclusively. Staffing firms find temporary employees to fill job positions for client companies
which require staff for short-term work assignments. These positions, which are usually for lower-skilled jobs,
have vacancies available for a variety of reasons, such as, maternity leave, short-term projects or periods of
high demand in the company. Despite the candidate working within a client company, they often remain an
employee of the staffing agency. This is not the case in all positions, as the employee may go on to be hired
permanently by the client company.
The global staffing industry generated 428 billion U.S. dollars in 2016. In that same year, the United
States' staffing and recruiting industry sales reached 150 billion U.S. dollars, 85 percent of which was
generated in the temporary and contract employment sector. In the United States, temporary and contract
employment totaled 14.5 million in 2016, down from 15.6 million in 2015, the highest employment figure
recorded since the year 2000. While employment figures have been sporadic between 2000 and 2016,
the average length of temporary and contract assignments have generally risen over the period from 9.7 weeks
in 2000 to 11.5 weeks in 2016.
Despite the U.S. holding a large share of the global staffing industry, the largest staffing firm in the world is
not American, it is the Swiss company Adecco. In 2016, the companys revenue amounted to 22.5 billion U.S.
dollars, with the largest share of its business generated in the industrial sector. The largest U.S. company in
the ranking is Manpower which generated over 19.6 billion U.S. dollars in revenue in 2016. Manpower placed
approximately three million people into permanent, temporary and contract positions worldwide during the
same year.