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Stock impact report

Recruitment giant sounds alarm over ‘longest jobs downturn' [Yahoo! Finance]

PAGEGROUP PLC S/ADR (MPGPY) 
NASDAQ:AMEX Investor Relations: page.com/investors.aspx
Company Research Source: Yahoo! Finance
Toby Fowlston said the current hiring slump was worse than shortly after the global financial crisis and during the pandemic. He said there had been a “huge surge in hiring, a shift in working patterns and remote work” coming out of Covid, but that the jobs market had since gone into a protracted decline , adding: “It's the longest downturn I have seen.” It comes as employers cut back on hiring following a series of moves by Labour to push up worker costs, including increasing the minimum wage and raising National Insurance contributions. The minimum wage will go up again in April, increasing by 4.1pc to £12.71 per hour. Bosses are also bracing for the Employment Rights Act to start coming into effect this year, handing new protections to workers and introducing further red tape for employers. Employers have warned the new workers' rights laws will stop them hiring for posts or risk being “chronically overstaffed” at times when they do not need as many workers. The joblessn Show less Read more
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