PRIVATE sector jobs growth has risen significantly, recruitment firm Hays reported yesterday, but is not yet enough to offset a large decline in government sector recruitment.
Reporting a net profit of £32.3m in the second half of 2010, Hays said private sector fees in the UK were up 27 per cent, while government sector fees had collapsed by 36 per cent.
The largest growth areas for Hays were in sectors such as accountancy and finance, IT, City-related and corporate accounts, it said.
Yet the downturn in the public sector meant that Hays relied on income from abroad to record net fee growth of 20 per cent, and operating profit growth of 38 per cent.
Record levels of fees were earned in Singapore, China, Japan and Germany, Hays said.
“With almost two thirds of our net fees now generated outside the UK, the business is well placed to capitalise on the excellent long term structural growth prospects ahead,” said Hays chief executive Alistair Cox.
Cox added the company planned to increase international consultant levels in 2011, having already grown its number overseas by 13 per cent this half to nearly 2,500. In the UK the firm has around 2,100 consultants.