Brexit prompts rise in temp jobs, says PageGroup

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Firms hiring temporary staff rather than offering permanent contracts, a downturn in public sector jobs and fewer revolving doors at London’s banks: that’s the post-Brexit recruitment picture so far, according to PageGroup.

Recruiters are good barometers for the economy because staff tend to spruce up their CVs and switch jobs when confidence is high.

But Steve Ingham, boss of white collar specialist PageGroup, was cautious of predicting too much. “The rise in temporary jobs in the UK is a reaction to the uncertainty (from the EU referendum vote),” he said.

He added: “But it’s too early to call. Have we seen the odd job cancelled, the odd candidate not accept an offer? Yes, but any significant impact hasn’t happened.”

Rivals SThree and Robert Walters have warned that Brexit-fuelled uncertainty has reduced their workload.

In the UK, Page’s fees fell 2.3% in the second quarter as its UK public sector jobs business fell 9%, and financial services was off 7%. Ingham hit back that the UK brings in a quarter of Page’s total fees. Lawyers are doing better — Page’s legal sector was up 23%. “There’s an underlying trend of increasing governance and compliance in business,” he said. 

Better jobs churn in continental Europe and Latin America,  saw Page’s pre-tax profit grow 3.6% to £299.2 million in the first-half of the year.

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July 12, 2016 |
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