Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Recruiter slump points to jobs market stasis, not crash

by Index Investing News
January 21, 2024
in Economy
Reading Time: 3 mins read
A A
0
Home Economy
Share on FacebookShare on Twitter


Unlock the Editor’s Digest for free

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

Do you like your colleagues? Or is there perhaps someone who sets your teeth on edge? If so, you are in for a tough spell. The chances of anyone in your immediate vicinity changing jobs have plummeted.

That, at least, is what recent trading at Hays, PageGroup and Robert Walters suggest. The UK and US look particularly weak. PageGroup’s UK fee income fell by a fifth; in the US, it was down almost a quarter. Hays reported a similar trend, worsening into December. The slowdown has affected the market for permanent jobs, more than that for temps.

Such gloomy results look hard to square with a resilient jobs market. UK unemployment was 4.2 per cent in the second and third quarters. US December employment data was surprisingly strong.

Yet recruiters only spend a sliver of their time filling newly created jobs. The bread and butter is so-called job churn, the merry-go-round created by companies and candidates seeking that elusive perfect match. There was a lot of that post-Covid, as people reconsidered their life goals. It has now come to a screeching halt.

Companies are posting fewer job offers, as confirmed by the Recruitment and Employment Confederations’ labour market tracker.

Roles that do come up take ages to fill. Anecdotally, employers are only offering 5 to 10 per cent more than a candidate’s current salary, down from as high as 20 to 30 in 2022. Smaller rises make candidates more reluctant to take the leap, and counter-offers from their current employer are more likely to succeed.

The slowdown appears to be particularly acute in highly paid non-technical jobs, such as senior employees in HR, legal and finance. Such people are the labour market equivalent of big ticket discretionary buys, perhaps less crucial to the day-to-day running of organisations than they might hope.

You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

Clearly, macro headwinds have made potential employers more cautious about taking on new employees, although not yet so cautious that they are taking an axe to headcount. Some of the slowdown is cyclical, too. Companies will be bedding down their recent spate of expensive hires, and soothing existing workers who may now be feeling relatively underpaid.

A deep chill on job moves is clearly bad news for potential candidates, forced to hunker down and hope for better days. Yet longer term, demographics are on their side. Shrinking workforces and the need for new skills point to a long-term bull market in talent. That is helpful for the (qualified) jobseeker and the recruitment companies trying to reel them in.

Lex is the FT’s flagship daily investment column. Sign up for our popular newsletter for premium subscribers here



Source link

Tags: CrashjobsmarketpointsRecruiterslumpstasis
ShareTweetShareShare
Previous Post

OpenAI suspends bot developer for Congressman Dean Phillips- The Washington Post By Reuters

Next Post

Tanya Berezin, Behind-the-Scenes Off Broadway Force, Is Dead at 82

Related Posts

How is the Federal Reserve reacting to Donald Trump’s commerce conflict?

How is the Federal Reserve reacting to Donald Trump’s commerce conflict?

by Index Investing News
May 25, 2025
0

Unlock the White Home Watch publication at no costYour information to what Trump’s second time period means for Washington, enterprise...

SoftBank’s Masayoshi Son floats thought of US-Japan sovereign wealth fund

SoftBank’s Masayoshi Son floats thought of US-Japan sovereign wealth fund

by Index Investing News
May 25, 2025
0

Unlock the White Home Watch e-newsletter without costYour information to what Trump’s second time period means for Washington, enterprise and...

The Ethics of Inequality – Econlib

The Ethics of Inequality – Econlib

by Index Investing News
May 25, 2025
0

In an period marked by rising tensions over social justice, wealth redistribution, and the position of the state, it's sensible...

Donald Trump makes dangerous guess by rekindling his commerce conflict with the EU

Donald Trump makes dangerous guess by rekindling his commerce conflict with the EU

by Index Investing News
May 24, 2025
0

Donald Trump likes to make offers. And he could also be calculating that his sudden escalation of tariffs on the...

The Fed’s not making a revenue

The Fed’s not making a revenue

by Index Investing News
May 24, 2025
0

Unlock the Editor’s Digest free of chargeRoula Khalaf, Editor of the FT, selects her favorite tales on this weekly publication.The...

Next Post
Tanya Berezin, Behind-the-Scenes Off Broadway Force, Is Dead at 82

Tanya Berezin, Behind-the-Scenes Off Broadway Force, Is Dead at 82

Moroccan-registered aircraft crashes in Afghanistan’s Badakhshan

Moroccan-registered aircraft crashes in Afghanistan's Badakhshan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Rumble secures 5 million funding from Tether

Rumble secures $775 million funding from Tether

December 21, 2024
Won’t be any change: Devendra Fadnavis refutes Prithviraj Chavan’s claims on Ajit Pawar replacing Eknath Shinde as CM 

Won’t be any change: Devendra Fadnavis refutes Prithviraj Chavan’s claims on Ajit Pawar replacing Eknath Shinde as CM 

July 25, 2023
Angelina Jolie Barefoot In First Late-Evening Look ‘In a Decade,’ Says ‘I Get Very Uncomfortable’

Angelina Jolie Barefoot In First Late-Evening Look ‘In a Decade,’ Says ‘I Get Very Uncomfortable’

December 6, 2024
Journo drops 49ers declare at Leeds

Journo drops 49ers declare at Leeds

May 21, 2022
‘Black Panther 2’ Star Tenoch Huerta Denies Sexual Assault Accusations – Deadline

‘Black Panther 2’ Star Tenoch Huerta Denies Sexual Assault Accusations – Deadline

June 12, 2023
Six Benefits Of Exchanging Into Delaware Statutory Trust Properties

Six Benefits Of Exchanging Into Delaware Statutory Trust Properties

January 19, 2023
Improve Your Mindset And Your Finances

Improve Your Mindset And Your Finances

January 17, 2023
SEC clarifies that the majority stablecoins usually are not securities

SEC clarifies that the majority stablecoins usually are not securities

April 5, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In