The economic roller coaster ride continues, but training appears to be on an upswing: Total 2011 U.S. training expenditures—including payroll and spending on external products and services—jumped 13 percent to $59.7 billion, according to Trainingmagazine’s 2011 Training Industry Report. Some 32 percent of respondents reported that their training budget increased—up from 24 percent last year. Likewise, training payroll increased substantially, from $25.7 billion to $31.3 billion, and spending on outside products and services jumped more than $2 billion to $9.1 billion.
The training budget figure was calculated by projecting the average training budget to a weighted universe of companies, using the Dun & Bradstreet counts of U.S. organizations with more than 100 employees. It is interesting to note that although small companies have the smallest annual budgets, there are so many of them that they account for 77 percent of the total budget for training expenditures.
For the full 2011 Training Industry Report, download the PDF below.