Hays Doesn't Expect Recovery In UK Job Market In 2010
08 Abril 2010 - 4:49AM
Dow Jones News
The U.K.'s largest recruiter, Hays PLC (HAS.LN), doesn't expect
a recovery in the U.K. job market this year, but rather "fragile
stability" in volumes, Finance Director Paul Venables said
Thursday.
The job market in the U.K. outside of London is still in
recession, he told reporters on a conference call. He added there
is no stimulus in the U.K. for a rebound in the market, or anything
that will drive potential job opportunities, and that the upcoming
May 6 general election also reduces confidence.
Candidate confidence to change jobs is what drives demand for
the company and although activity levels and sentiment in the U.K.
have improved, this hasn't yet converted into any real increase in
job levels, which would drive demand for Hays.
Contrary to the U.K., Hays' Asia Pacific and European markets
are expected to grow. Venables said he expects to deliver "improved
performance from now on and significant growth in the long
term."
The finance director does not expect to add offices in Asia
Pacific in the next three months because "there still is capacity
coming out of the recession."
-By Anita Likus, Dow Jones Newswires; +44 20 7842 9407;
anita.likus@dowjones.com
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