U.K. Recruiter Sees Profits Jump as Labour Market Tightens
Robert Walters Plc, the U.K. recruitment company, expects to benefit from an ever-tightening labor market that’s driving wages higher.
With wage inflation taking hold, fourth-quarter profit jumped by 39% compared with last year, the London-based company said in a trading update Tuesday.
“We are seeing candidate shortages across all locations and disciplines, a fierce competition for talent and wage inflation kicking in,” it said, citing particular demand in the U.K.’s legal, commerce finance and technology sectors -- both in and outside of London.
U.K. companies are preparing to hire more workers to meet consumers’ increasing demands to buy products and services instantly online, according to a Lloyds Bank Plc survey published last week. Almost half of the 600 businesses surveyed said they plan to add staff in the medium term.
Read More: U.K. INSIGHT: Big Squeeze Is Coming, BOE Can’t Turn a Blind Eye
©2022 Bloomberg L.P.