Michael Page warns austerity measures may hamper jobs recovery

Michael Page International has seen an improvement in the UK jobs market, as the recruitment company reported a 33% rise in profit for the second quarter. But it has cautioned that austerity measures may hit economic activity.

The company, which recruits professionals and executives for industries ranging from finance and insurance to IT and manufacturing, gave a cautiously optimistic trading outlook, echoing recent comments from fellow recruiter Hays.

Group profit for the three months to June 30 rose to £111.5m from £83.8m in the same period a year earlier.

However, the company warned that economic activity in the UK and Europe could be hit by fiscal austerity measures.

“In the UK, continental Europe and north America we have experienced job flow improvements in virtually all markets,” said chief executive Steve Ingham. “It is the nature of our business that visibility is short, and the general level of business confidence and economic activity may be threatened by fiscal consolidation in the UK and Europe, however, we are quick to react to changing market conditions.”

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