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Recruitment's road to recovery

Booming job market spells success for recruiters, but future growth is uncertain
Recruitment's road to recovery

Since the pandemic took hold, panic buying has become something of a national sport. First it was rice and pasta; then toilet roll; then petrol. Almost two years down the line, are workers the new short-term stockpiling target? Or is the tight labour market here to stay?

Recruitment companies are having a bumper season. In a trading update, Robert Walters (RWA) reported a record December performance, with fourth-quarter net fee income a third higher than last year. Omicron proved less damaging than feared, and the group said permanent and interim recruitment activity were the strongest drivers of growth, pointing towards greater long-term confidence. 

Meanwhile, 2021 proved to be a “record year” at  PageGroup (PAGE), whose results were also bolstered by a strong final quarter. PageGroup’s fee earner headcount is now the same as before the pandemic and full-year operating profit is expected to be marginally ahead of its previous (boosted) guidance of £165m.

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