CITY AM – Canary In the coal mine 

Fears grow of deteriorating jobs market after recruitment firms update on 2023

CITY AM SAYS Signs of stress are emerging in the jobs market after three of the UK’s largest recruitment firms reported significant slowdowns in hiring in the final quarter of last year.

On Monday morning Pagegroup became the third recruitment firm this year to reveal the impact that a slowing jobs market has had on its performance.

The firm reported that profit in the UK was down 20 per cent in the final quarter of the year as it warned profit for the full year would come in below market expectations.

This followed a profit warning from fellow recruiter Hays last week. Robert Walters meanwhile maintained its guidance for the full year despite reporting a drop in revenue.

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