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Jobs market is on the up, says City recruiter

SQUARE Mile headhunter SThree said the fourth quarter saw signs of recovery in the jobs market even as it unveiled a sharp fall in profits.

Underlying pre-tax profits at SThree slumped by 87 per cent in 2009 to £4.8m, with revenues down 18 per cent to £519.4m. The firm said its advertising spend, already halved from its 2007 peak, would continue to decline.

Despite this, SThree said the City employment landscape was improving. Its shares rose 4.2p to 308.7p.