Recruitment firm reports slowing UK growth

Recruitment firm Michael Page today said its UK growth slowed to almost a standstill last quarter as the financial sector turmoil put the brakes on new hirings.

The group saw UK gross profits during the second quarter this year rise by 1.2% to £48.5m (€61.3m) compared to last year, down from the 6.7% and 16% growth seen during the previous two quarters. Profits from finance and accountancy recruitment fell 8% in the second quarter.