Strong UK job market boosts profit for recruiter Michael Page

 
Chris Papadopoullos
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UK unemployment is currently 5.5 per cent (Source: Getty)
A booming British jobs market has raised the earnings of recruiter Michael Page.

Over the first half of the year its UK gross profit was 12 per cent higher compared with the same period last year, the company said yesterday.

“The market has been consistently strong all year, with good levels of demand and candidate shortages which are providing some degree of pricing leverage,” the firm said. UK unemployment is currently 5.5 per cent down from 7.2 per cent only 18 months ago.

However, currency movements such as the fall in the euro knocked £11m off its profit, taking profit growth down from 10.8 per cent to 6.6 per cent.

“Our five high potential markets of Germany, Greater China, South East Asia, the US and Latin America are now performing at a record level,” said chief executive Steve Ingham.

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