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Michael Page cautious on UK employment market

Recruitment leader Michael Page still remains very cautious on the UK employment market despite posting better-than-expected quarterly results today. A 9.2% increase in gross quarterly profits in the UK was better than many had expected with the company's exposure to the accountancy and legal professions showing significant strength. So why is the company cautious about the UK employment market?

Even though the company is well-positioned to take advantage of the eventual recovery in the UK, Continental Europe and North America there appears to be some concern about the fragile nature of the UK employment market, at least in the short-term. Ever-growing suspicion about official employment data and the fact that the economy is still very fragile would appear to be causing concern amongst potential customers who are looking to build for the future but ensure their cost base reflects the current economic environment.

While the sting in the tail, i.e. the negative comments on the UK employment market, has made many analysts sit up and take notice the underlying strength of the business is becoming more apparent. Recruitment companies are often a very good gauge of the underlying economic situation as many employers are likely to recruit part-time staff before committing themselves to greater numbers of permanent staff.

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