Recruitment giant nosedives as job market grinds to a halt [Yahoo! Finance]
PAGEGROUP PLC S/ADR (MPGPY)
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Source: Yahoo! Finance
More than a fifth has been wiped off the value of recruitment giant PageGroup as Britain grapples with surging unemployment Shares in PageGroup plunged by 20pc on Thursday as the company revealed a 60pc drop in profits following a hit from Britain's ailing jobs market. The company pointed to “tougher” trading conditions in the UK, recording an operating loss of £13.3m in the country. PageGroup warned that companies in Britain were “deferring hiring decisions and candidates [were] cautious about accepting offers”. The country's jobs market is grinding to a halt, with employers bringing on fewer new staff in the face of soaring worker costs and stricter red tape. Official figures show that the unemployment rate in Britain has risen to record levels over the past year, hitting 5.2pc at the end of last year. The UK's joblessness levels recently overtook Italy for the first time since the depths of the financial crisis. Bosses have blamed Labour policies for fuelling unemploym
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